Asset Suite: Materials and Procurement Management
Effective asset management goes beyond your four walls to suppliers, service personnel and other outside partners. Asset Suite's supply chain functions consist of three primary categories: Inventory Management, Procurement and Invoice Matching.
Inventory Management
Asset Suite manages all warehouse and inventory management functions, including requisitions, stock issues, returns, receipt, physical inventory, lot/batch tracking, serialized spares, hazardous materials handling, internal sourcing staging and kitting, rebuild costing and more.
- Asset Suite features a "parts finder" that enables users to search for parts to place on a work order or requisition. You can search in the main catalog, sub-catalog or in any of the "personalized or customized catalogs" that you create yourself.
- Using the catalog management functions, you can assign a type code (electrical, mechanical, etc.) to a part, and you can imbed policy rules, storage details and other factors into the parts catalogs.
- With the requisition module, you can create parts and service requisitions that can be generated manually or automatically, based on volume triggers or other criteria.
- With Asset Suite, you can manage the inventory stocking function. The system supports walk-up stock depletion or a pick-ticket/advance picking process.
- Inventory receiving records items received including the quantity, purchase order number, origin of goods, carrier and other relevant information.
- The system supports returned items that are returned to stock, or returned to vendor, or sent out for repair.
- Asset Suite supports periodic physical inventory counts in a four-part process, consisting of stock item selection, printing count sheets, recording count results and updating stock quantities.
- Asset Suite allows you to make manual inventory adjustments, including scrapping items and registering item obsolescence.
- With Asset Suite, you can maintain a complete history of all your stock transactions and use it for ongoing inventory analysis.
- Automatic replenishment and lead time calculations ensure the right parts are available for the work to be scheduled.
Procurement
Asset Suite helps you purchase supplies at lower costs, higher quality and more predictable availability.
- The system allows buyers to create their own customized views of key data, including requisitions, work orders and delivery schedules.
- Asset Suite supports quotation processing, including Requests For Quotations (RFQ), Requests For Information (RFI) and Purchase Agreements. The system helps your buyers determine the firms you should request information or quotations from.
- The system has a comprehensive, work-flow enabled purchase order functionality that can be used stand-alone or interfaced to other systems.
- A comprehensive supplier/vendor registry maintains all information about your supplier partners, including products supplied, contact information, history with your company, performance evaluations and other information.
Invoice Matching
Ensure accuracy and save money by matching purchase orders to vendor invoices.
- Register and match invoices and credit/debit notices against purchase orders and receipts to close the loop in the purchasing cycle.
- Generate invoice vouchers automatically or manually.
- Use the system to generate credit/debit notes when purchase orders do not match invoices.
- Allow ERS payments upon receipt of material.
