ERP - Inventory Management

• 1. Inefficient Inventory Tracking and Monitoring: Difficulty in accurately tracking the movement and location of banknotes across facilities, leading to errors or delays in inventory management.

  2. Lack of Real-Time Visibility: Inability to obtain real-time updates on inventory levels and banknote movements, making it challenging to respond to sudden demands or shortages.

  3. Time-Consuming Processes: Manual handling of inventory processes, such as counting and verifying banknotes, resulted in inefficiencies and delays in daily operations.

  4. High Risk of Errors: Errors in tracking or reconciling banknote inventory due to human input, especially during large-scale transactions or movements.

  5. Inefficient Reporting and Compliance: Generating accurate and timely reports for regulatory purposes or internal audits was cumbersome and error-prone.

  6. Ineffective Demand Planning: Inability to predict cash needs or optimize inventory levels due to a lack of accurate data on banknote availability and movement.

  7. Difficulty in Standardizing Processes Across Locations: Lack of a unified system to ensure consistent inventory management practices and data accuracy across multiple facilities or branches.

• 1. Enhance Inventory Accuracy: Ensure precise tracking and management of banknotes by reducing errors through automation and barcode integration.

  2. Improve Traceability and Transparency: Enable full traceability of banknotes throughout their lifecycle, from production and storage to distribution and withdrawal, ensuring accountability and reducing risks of mismanagement.

  3. Enable Real-Time Monitoring: Provide real-time visibility into inventory levels and movements across all facilities, allowing for timely and informed decision-making.

  4. Streamline Operational Efficiency: Automate inventory workflows, such as stock updates, reconciliation, and restocking alerts, to reduce manual workload and improve processing speed.

  5. Optimize Demand Planning and Resource Allocation: Use accurate inventory data to forecast cash demand, prevent overstocking or shortages, and allocate resources efficiently.

Inventory Accuracy Metrics

• 1. Inventory Discrepancy Rate: Percentage of discrepancies between physical stock and system records.

  2. Barcode Scanning Accuracy: Success rate of barcode scans matching the correct inventory data.

Operational Efficiency Metrics

• 1. Transaction Processing Time: Average time taken to process inventory-related transactions (e.g., receiving, dispatching, or reconciling banknotes).

  2. Manual Workload Reduction: Percentage decrease in time or resources spent on manual inventory tasks.

  3. System Uptime: Percentage of time the ERP system is fully operational without interruptions.

Real-Time Monitoring Metrics

• 1. Data Update Frequency: Time taken for inventory data to reflect changes after a transaction.

  2. Real-Time Access Rate: Percentage of inventory transactions that are logged and updated in real-time.

Traceability Metrics

• 1. Traceability Completion Rate: Percentage of inventory items (e.g., banknote packages) with a complete and verifiable movement history.

  2. Audit Trail Accuracy: Success rate of retrieving detailed transaction histories for regulatory or internal audits.

Reporting and Compliance Metrics

• 1. Report Generation Time: Time required to produce reports for regulatory compliance or internal audits.

  2. Regulatory Compliance Rate: Percentage of operations compliant with applicable regulations and standards.

Demand Planning Metrics

• 1. Forecast Accuracy: Accuracy of cash demand forecasts compared to actual usage.

  2. Stockout Rate: Frequency of inventory shortages disrupting operations.

  3. Overstock Rate: Frequency of excess inventory leading to inefficiencies or increased costs.

Customer and Stakeholder Satisfaction Metrics

• 1. Satisfaction Scores: Feedback from stakeholders (e.g., staff, regulatory bodies) regarding the system’s ease of use and efficiency.

  2. Issue Resolution Time: Average time taken to address and resolve user-reported issues with the system.

BI internal team and PERURI

Some snips of what has been accomplished

Limited use for BI and PERURI