Higher Education ERP Module For Purchase & Stores
It takes a huge amount of time to manage inventory manually. The chances of data mismatch leading to errors in calculation can also occur. This is why inventory management in educational institutions has become a major cause of concern. Be it keeping track of the stock or keeping the records in place all needs a centralized system. Store inventory management software is a perfect solution for taking care of the inventory as it not only reduces the time but also maximizes the efficiency of the whole process.
A store management system (or inventory system) tracks goods or books from the point of purchase through production and sales to the point of sale. It monitors inventory levels, orders, sales, take-up, and deliveries. You can use it to manage all your inventory for your institution.
MasterSoft's Store Management Information System
MasterSoft's store management information system is an advanced ERP module that provides a lot of facilities that help to automate the most elaborate and tedious tasks involved in tracking the inventory. The educational ERP software automates key functions related to the functioning of the retail department. Some of the vital operations which the software takes care of are generating receipt of goods, making stock book entries, generating bills, issuing materials for different departments, maintaining stock books regularly, etc.
The most notable functionalities of the store management system include:
- Maintains the details of multiple institutes
- Safekeeping of the vendor's details
- Automatic updates of transaction of supplies and purchases
- Generation of store MIS reports
Higher Education ERP Modules
College ERP College ERP
University ERP University ERP
Key Features Of Store Management System
1 Track Inventory in Real-Time
The software displays the amount of stock present within the store as well as it shows its location. This feature enables one to keep track of the goods and commodities which are brought into the educational institute. The book sales orders are automatically indicated in real-time thus helping the administrative staff to keep a track of the consignment stock.
2 Stock Ledger
This feature helps in centralizing the ledge and keeping it in accordance with other departments of the school or college. In case of maintaining important information such as the names of the stockholders, addresses of the stockholders, date of stock issues, etc. all can be easily done with the help of this software.
3 Supply And Issuing Management
If a faculty from any department is looking to issue any book or document for educational and teaching purposes, they can do this by informing the library store department. The software can then proceed to generate and autofill the requirement which has been issued by the concerned department of the institute.
4 Library Stock Keeping Unit
It is challenging to keep a detailed track of multiple orders when it is done manually. The store inventory management software is capable of keeping track of a large number of library items and products which are being ordered by various departments by using SKU (Stock Keeping Unit) which is a scannable barcode.
5 Maintaining Detailed Purchase Records
For educational requirements, the institute purchases many resources for different purposes. Maintaining the details of these purchases in an error-free and detailed manner can be carried out by the store management information system. The date when the products were dispatched, the bills of the respective products, when they had arrived at the institution premises all are carefully maintained in this software.
Invoices are basically the acknowledgement statement of the goods which have been delivered and procured and sent to the buyers. The software further enables keeping a track of the invoices. Hence, if there are any discrepancies found later with the product, the institute can deal with the vendor by showing the invoice.
Key Benefits Of Store Management System
The Higher Education E-Learning System with MasterSoft Team Integration fulfills the core purpose of education by ensuring smooth teacher-student communication & providing the best quality education.
Inventory Management Automation
Reduced Workload and Saves Time & Effort
Prevents Human Error
Latest Technology Framework
Reduces Overhead Costs
Improved Data Visibility
Transparency in the Number of Stocks
Keep a Tab on the Stocks
Role-Based Login Access
Better Communication Among Librarians
Timely Delivery of Stocks
Hassle-Free Delivery of Books
Easier Issuing of Books During Exams
Time-Saving Issuing/Deposit of Library Items
Track Inventory and Delivery of Stocks
FAQ's On Store Management System
To ensure that all the activities involved in stock control and storekeeping are carried out economically and efficiently by the librarian. Also, to prevent any overstocking & understocking and ensuring uninterrupted supply of library items without any delay.
There are six types of store management, which includes the following:
- Main or Centralized Stores
- Branch or Decentralized Stores
- Central Store with Sub-Stores
- Centralized Stores
- Miscellaneous Stores