Inventory & Materials Management
Gain full visibility and control costs with a tightly integrated inventory-to-requisition system. Order, Fulfill, or Transfer stock held at any inventory location with confidence and ease.
Increasingly, companies are recognizing that requisition, procurement and spend management solutions allow them to bring more spending under direct control, allowing them to boostbuying power while simultaneously minimizing waste and driving efficiency.
In addition, spend management solutions provide companies with visibility into the purchasing cycle that they just can’t get with manual or disconnected systems. Another area where spend management software is gaining traction, is when it is integrated with a company’s ERP solution and used as a tool to improve inventory and materials management. Procurement and spend management software can improve inventory management by speeding and simplifying internal fulfillment, tracking purchase requests, and shedding light on replenishment activities.
Paramount WorkPlace is a comprehensive, integrated solution for inventory and procurement management, helping organizations streamline ordering and inventory management, reducing costs and driving operational efficiency.
Gain full visibility and control costs with Paramount WorkPlace’s tightly integrated inventory-to-requisition system. Order, Fulfill, or Transfer stock held at any inventory location with confidence and ease.
Features and Benefits:
- Real-time updates and visibility of item stock levels
- Hand-held scanner interface
- Materials management workflow
- Serial and lot items support
- Inventory replenishment examines stock levels and requirements to automatically generate requisitions
Terms & Definitions
What is Materials Management:
Materials management is a core supply chain function and includes supply chain planning and supply chain execution capabilities.
What is Inventory Management:
Inventory management is the supervision of non-capitalized assets (inventory) and stock items.
What is Replenishment:
Inventory replenishment, otherwise known as stock replenishment, refers to the process of inventory moving from reserve storage to primary storage, then onto picking locations.
What is Requisition:
A requisition is a documented way to request an action or item for delivery by a certain date, department or individual.