SMU MBA ASSIGNMENTS

Web ERP has become a necessity for businessmen to be aware of their stock and inventory from anywhere, at anytime. Web ERP is an absolute web-based ERP system that requires only a web browser and PDF reader. It has now become an open source application and is offered as a free download.

Web ERP systems are gaining popularity than ever. It allows businessmen to update their systems in large organisations without the need of installing updates at any remote locations, almost immediately. It provides real time information about finance, inventory, employee management, etc by providing advanced levels of service to consumers and suppliers

8.3.1 Benefits of Web ERP

Web ERP Inventory system has many benefits. Some of them include:

· It processes data on the server side. Therefore, no installation is required on the client machines.

· It provides Multilanguage support; users can view the interface in their preferred language.

· It provides Multi-theme support; users can view the interface in their preferred graphical theme.

· It runs on any web server and suitable for both high speed and low speed internet connections.

· It can be installed on any device that has internet access.

Web ERP is developed using PHP as a web development language. These scripts are developed with stability and ease so that the application becomes readable with a minimum knowledge of scripting in PHP and the structure of ERP.

The logic is made as clear and simple as possible in order to remove any generalisation from the code, and to make it readable for all kinds of employees. It can also be configured easily on any operating system and the processing constraints required are also economical.

Web ERP has many features that make it suitable for maintaining organisations of different sizes. It provides an easy structure of processing by supporting features such as multiple inventory locations and multiple currencies. .Web ERP maintains all records that provide information like, amount of inventory stock available, amount of inventory ordered, amount of inventory sold, and amount of inventory that is defective.

ERP Inventory management module takes care of transactional workflow in an organisation in sequential order. ERP Inventory module is subdivided into different modules such as:

Inventory requisition: The function of inventory requisition is to take the inventory constraints from various departments of an organisation. This is achieved when various departments fill the inventory requisition form. On filling the form, the head of the department fills up the quantity/quality of the inventory required, considering the minimum inventory required, maximum inventory required, and the current inventory available.

Inventory order assessment: Once the form is filled, inputs are taken from the form and processed. The inventory wanted by the various departments is compared with the minimum inventory required. Once the comparison is done, the final requirement for various departments is fixed and a list of suppliers for the inventory is then formulated

Inventory placing: Once the supplier is chosen, an order is placed by filling the order form

Supplier Performa: In this sub module, the supplier provides quotation for further transactions

Order received: In this sub module, a comparison between order placed and order received is recorded i.e. a comparison is done between Date of placing order with Date of receiving order, and Quality with Quantity of order placed. Once the comparison is done, the amount to be paid to the supplier and the mode of payment is decided.

· Quality checks: It is necessary to check if the deliverables have met the expected outcome. Therefore, quality check becomes an important phase where Research and Development(R &D) department performs a check and the department head acknowledges it by filling up a quality assessment form.

· Inventory bills and challans: In order to ensure safe payment, bills and challans are chosen to represent the amount paid, payment mode along with the ID of supplier and Receipt ID.

· Minimum inventory assessment: Minimum inventory assessment aims at assessing minimum inventory inputs or requirements from various departments of an organisation. The assessment is done by preparing a Performa which is circulated to various departments and they are expected to fill up their minimum inventory requirements. This assessment is done, considering various factors such as costumers order received, inventory in hand and scrap.

· Minimum inventory requirement: Minimum inventory requirement is the amount of inventory less than which employees cannot work i.e. it is that minimum amount of inventory required to perform any task.

· Maximum inventory assessment: In this sub module an assessment is done for maximum amount of requirements. This information is gathered from various departments to guarantee that no wastage happens. The assessment is done by considering factors such as customers order received, inventory in hand, etc.

· Maximum inventory requirement: It is the amount of inventory which is sufficient to perform any task.