Have you ever had this feeling of forgetting something, followed by the irritation of just not being able to remember it? With the never-ending distractions surrounding us, it’s close to impossible to be a master memoriser; let alone remember the diary denoting that piece of information.
And, if you have your own manufacturing business, God forbid missing even one piece of your product’s puzzle.
Imagine going out of bolts one fine day, having everything except the one thing to piece it together. Well, it’s surely going to lead to a high production loss and the worst? Money drained out of your pocket.
The importance of being light years ahead in stocking up input materials cannot be minimised as it’s one of the most important parameters to add continuity to a business.
There might be ways to handle an out-of-stock crisis, but won’t it be best to eliminate it altogether?
Elaborating on the above, what if we told you there was a tool which assisted you in the process of this elimination?
It’s all in your control.
Let us draw the curtains to show you the power of GRID, a tool made to assist you in creating an efficient flow for your business’ core: material management.
Here is a look at its functionality, and the way to use it: in brief as talking to us is just a call away.
- The space to manage your materials is known as a workspace (a screenshot of which is given below). As you can see, we have the name on the top right corner with your business name under it.
- Every workspace is sub-divided into worksheets which cater to specific functions or material demands of your business. A typical material management sheet would have the following worksheets: Material Request, Purchase Order, Vendor Invoices, Material Receiving (Office) and Material Issued (Office).
Before I get into the nitty-gritty of the what and why of every worksheet, what you must know is the system on which it operates.
If you view the column below Material management, you would see the ‘Database column’ wherein, the assigned person updates minute material details, like the category, the value, GST, and a whole lot of important parameters.
Don’t worry, we help in designing your workspace just the way you like to give you and your teams the smoothest and quickest transition.
Coming to the process and its core benefits, let us take it step by step:
To prevent any out-of-stock calamity, you can involve various stakeholders and assign them specific roles.
Step 1: A material request in a factory/warehouse/mine is raised by production managers or assigned members. When this is done, the purchasing department receives a notification on Grid regarding the material request
Step 2: The Purchase Order is generated by the purchasing department along with the material requisition number, which is then sent to the relevant vendor.
Step 3: The concerned vendor dispatches the material and sends the invoice to the company. Invoices are uploaded on Grid against the PO to create a complete repository for tracking and documentation.
Step 4: The material is received on-site and the data is entered for the same. The material can be received on multiple locations/warehouses depending on the scale of operations.
Step 5: The material is issued from the warehouse to a relevant location for consumption, thus, coming full circle.
Apart from the ease of distributing and tracking data with multiple stakeholders, GRID aids in running a material business through:
1. Stock Analysis
The above flow helps in defining and evaluating the status of various stocks, which helps in making informed decisions about what needs to be bought and sold. It also helps in gaining insight into the functioning of the business as a whole.
2. Purchase and Payments Analysis
Having all the invoices, billings, and material requests in one place help in creating a detailed graph of recurring buys, expenditure, usage, and the like.
3. Vendor Dispatches & Pricing Analysis
Also, having data from all concerned vendors in one space helps in defining pricing, delivery time, and availability of various vendors which helps in making quick decisions in the future.
If GRID is a product which interests you, how about showing your interest here and taking a step to make your life easier?