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Material Management

Material Management

Managing materials or resources is complex for any business and needs an effective tool to be controlled and monitored. This module involves the entire purchase and stores functions of an enterprise. Tightly integrated with modules/sub-modules such as Payables and Payments and tax-related legal compliances.

Processes at a glance
  • Procurement operations ( Control & escalation ) based on the project plan
  • Additional approvals for project plan overrides
  • Purchase centre management for multiple projects
  • Trip sheet bookings for aggregates
  • Project plan controlled issues management
  • Debit accounting for pieceworkers & subcontractors
  • Site-specific stock management
Documents / Reports
  • Requisition Tracking
  • Comparative Statement
  • Material Reconciliation
  • Vendor Rating
  • Material Trend Analysis
Benefits
  • Place Material/Plant requests from project sites.
  • Multi-level approvals for material deviations and appends.
  • Centralised purchase team management for materials and consumables.
  • Decision making of requested Materials to go with the purchase Order/Hire Oder/Cash Purchase or extension of own material Transfer/Machineries.
  • Centrally create RFQs to vendors for Material Purchase Initiation.
  • Upload or capture quotations and generate comparison statements for materials for purchase operations.
  • Issue Purchase/Hire Orders centrally with editable terms and conditions along with Amendment.
  • Issue fixed rate contracts for materials for long term or bulk purchases.
  • Create multiple delivery requests for fixed rate contracts.
  • Create Receipt entry for Material/Plant received at the Project site or warehouse.
  • Cash purchase provision for material and consumable purchases.
  • Delivery receipts for material supplied by clients.
  • Material/Plant Transfer out & in operations along with respective Tax Invoices.
  • Spare parts for machinery and consumables issue and re-ordering.
  • Material Issue from site stock according to Cost code/work order/Employee.
  • Recording the Usage logs for the Plant (Own/Hire).
  • Purchase returns before invoices are added in system or debit note issue for returned or excess items.
  • Issue Returns can be recorded for Material/Plant against the Issues.
  • Receipt/Returning of Scraps from Site after the execution/wastage/expiry.
  • Bill entry and scrutiny by accounts and purchase teams based on Purchase/Hire orders, Receipts and related Tax invoices.
  • Stock statement for physical stock audit at site and warehouse.
  • Recording the actual stock vs Physical stock and generation of Excess and Shortage adjustments during stock audit.
  • Accounts payables alerts for material purchases based on terms and aging analysis.
  • Create Periodic maintenance schedule for Plant and equipment.
  • Organising the Follow up for Preventive/Breakdown maintenance.
Reports
  • Material purchase price trends and vendor comparison.
  • Supplier wise purchase details comparison for the same material.
  • Item wise purchase details comparison for material from the same supplier.
  • Machinery Availability vs Utilization Report.
  • Own Hire charges report for machinery against the project.
  • Stock statement generation - project wise for finance submission.
  • Stock statement generation with aging analysis for reallocation and ¬†finance submission.
  • Consumables and another material minimum stockholding at sites and warehouses.
  • ABC and XYZ analysis of materials in sites and warehouses.
Material Management Processflow Diagram

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