TactCPM Store Management module offers a robust solution for defining, managing, and controlling all store-related activities, from receiving and issuing materials to maintaining detailed records and managing store costs. This module helps ensure that all materials are properly tracked, accounted for, and utilized efficiently, contributing to overall project efficiency and cost savings.

Key Features

1. Store Definitions and Setup:

• Digital Store Definition: TactCPM allows users to define stores digitally, specifying key details such as store location, store type (e.g., central, site-specific, mobile), capacity, and categories of materials stored. This helps in setting up and managing stores based on project needs.
• Store Hierarchy and Classification: Users can create a hierarchical structure for stores, categorizing them into different levels (e.g., regional, site-specific) and defining relationships between stores (e.g., central store supplying site stores). This hierarchical setup enables better control and coordination.

2. Multiple Store Setup and Management:

• Support for Multiple Stores: The system supports the setup and management of multiple stores within a single project or across multiple projects. Each store can operate independently with its own inventory, processes, and documentation.
• Centralized and Decentralized Store Models: Allows for both centralized (single store serving multiple sites) and decentralized (individual stores for each site) models. This flexibility helps in optimizing material handling and logistics based on project requirements.

3. Material Management:

• Comprehensive Material Master Data: Provides a centralized material master database that includes detailed information about each material, such as material code, description, unit of measure, reorder level, supplier details, and approved rates. This ensures consistency and standardization across stores.

4. Stock Receiving and Inspection:

• Digital Material Receipt Notes (MRN): The system allows for the creation of digital Material Receipt Notes (MRN) upon the receipt of materials from suppliers. Each MRN includes details such as PO reference, supplier information, received quantity, quality checks, and inspection status.
• Quality Inspection and Approval Workflow: Integrates with quality management functions to ensure that received materials undergo quality inspection before being accepted into the store. This process ensures compliance with project specifications and standards (enhancement).
• Automated Stock Updates:Upon approval of GRNs, the system automatically updates the store inventory, ensuring accurate and real-time stock levels.

5. Stock Issuing, Returns, and Adjustments:

• Material Issuance Requests and Approvals: Provides a controlled issuance process where site engineers or managers can raise material requisition requests that go through an approval workflow before issuance from the store. This ensures that only authorized personnel can request and receive materials.
• Issuance and Return Tracking: The system records all material issuances and returns, capturing details such as date, quantity, requesting department, and purpose. This helps maintain accurate records of material movement.
• Stock Adjustment Entries: Allows for stock adjustments to account for discrepancies, damages, wastage, or loss. These adjustments are recorded in the store ledger and are subject to approval to ensure accountability.

6. Store Registers and Ledgers:

• Automated Store Registers: Maintains automated registers for each store, recording all transactions such as receipts, issuances, returns, and adjustments. These registers provide a complete audit trail of material movements and transactions.
• Store Ledger Management: The store ledger records all financial transactions related to materials, including costs of materials received, issued, returned, or adjusted. It serves as the primary financial record for managing store costs and inventory valuation.
• Material Ledger: Maintains a material ledger that provides a detailed record of all material transactions at the item level, including batch and serial number tracking, quantity, and value. This helps in accurate inventory valuation and cost control.
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7. Inventory Management and Optimization:

• Real-Time Inventory Monitoring: Provides real-time visibility into inventory levels across all stores, enabling project managers to monitor stock levels, track consumption, and manage reorder points. This helps in maintaining optimal inventory levels and avoiding stockouts.
• Inventory Valuation and Costing Methods:Supports multiple inventory valuation methods, such as Weighted Average Cost, allowing flexibility in financial reporting and inventory management.
• Inventory Reconciliation and Audits: Supports regular inventory reconciliation and audits, helping identify discrepancies between physical stock and recorded stock, and ensuring inventory accuracy.

8. Store Cost Management:

• Material Cost Allocation: Allows for accurate cost allocation of materials to specific projects, tasks, or cost centers based on material consumption and usage reports. This helps in project cost control and budgeting.
• Consumption Analysis and Cost Reports: Generates detailed consumption reports and cost analysis, providing insights into material usage patterns, wastage, and areas for cost optimization.
• Overhead and Indirect Cost Management: Supports the allocation of indirect costs, such as storage costs, handling costs, and inventory carrying costs, to materials, providing a more accurate picture of overall project costs (enhancement)

9. Debit and Credit Notes Management:

• Automated Debit Notes for Returns and Shortages: Generates debit notes automatically for material returns, shortages, or discrepancies, ensuring that suppliers are notified and adjustments are made to supplier accounts.
• Credit Notes for Supplier Adjustments: Allows for the creation of credit notes for supplier adjustments, such as discounts, allowances, or corrections. This feature ensures accurate supplier management and financial accounting.
• Integrated Financial Impact: All debit and credit notes are integrated with the financial module, ensuring that all adjustments are reflected in the financial books, supporting accurate financial reporting and reconciliation.

Unique Selling Proposition (USPs)

• Enhanced Material Control and Accountability: Real-time tracking, digital records, and approval workflows ensure full control over materials, reducing wastage and enhancing accountability.
• Optimized Inventory Levels: Real-time inventory monitoring, reorder point management, and stock optimization features help in maintaining optimal inventory levels, reducing carrying costs and avoiding stockouts.
• Improved Cost Management: Detailed store ledgers, material cost allocation, and consumption reports provide better visibility into store costs, helping in effective budgeting and cost management.
• Streamlined Operations and Efficiency: Automated processes for receiving, issuing, returning, and adjusting materials streamline store operations, reducing manual efforts and errors.
• Comprehensive Reporting and Compliance: Robust reporting capabilities and digital records support better decision-making, compliance with regulatory requirements, and audit readiness.