The BFW inventory management module provides insight in the current stock.
The stock can be updated at any time on the basis of produced kilograms and received materials.
Furthermore, the module allows you to manage purchasing activities or cancel existing purchasing contracts on the basis of the expected production amount.
BFW will connect the scheduling data with the purchasing contracts and stock data, allowing optimum inventory management.
Inventory management as a control method
The inventory management module can be used to check whether the actual stock corresponds to the theoretical stock.
This is important because the financial administration sees the stock as an important financial component.
The theoretical stock is determined on the basis of:
Stock balance at the end of a period (e.g. 1/1);
All write-offs as a result of production;
All additional bookings as a result of revenue.
This results in a calculated stock.
Discrepancies between actual and theoretical stock are often due to:
A difference in the actual and assumed scrap/waste;
Use of more materials than planned in bending schedule (e.g. due to manufacture of testing components);
Use of more materials than required in bending schedule.
Due to the above-mentioned, a complete balance between theory and practice is often impossible.
However, the above-mentioned does allow us to make an accurate estimate.
Inventory management screen
Overview start and end stock including mutations
Inventory management to support sales
The inventory management in combination with the planned deliveries and receipts can be a useful tool to determine whether meshes and support beams can be delivered from stock.
BFW will reduce the inventory with planned production requirements.
This results in a 'free' stock, allowing goods to be directly delivered.
If there is no stock of a certain product, the module allows you to check when a product is back (or expected) in stock on the basis of scheduled write-offs.
Inventory management with scheduled deliveries
Inventory management as a optimum purchasing tool
The financial risk management (FRM) module can be used to determine whether the stock sufficiently covers current obligations.
This module allows you to compare calculation estimates with purchasing contracts.