MasterSoft Store (inventory) Management System - Why is it Deemed Fit for Higher Educational Institutes?

The inventory management in higher academic institutes becomes a major challenge for the administration of colleges. Inventory optimization, transparency in the supply chain, scalability, and time-saving are the most common problems. The automated inventory management system can help them to overcome such issues and saves time. MasterSoft is one-stop-shop for the education ERP software and store management software.

What Makes MasterSoft Inventory Management Software Best?

The relative module of the inventory management by the MasterSoft includes the computerized process for the goods procurement, stock book, receipt of the goods, issue write-off, passing the bill and the store reports. Moreover, with the help of store management system software, the management of educational institutes can create a varied department, items, users, passing paths and the authorities, and maintain the vendors' details.

This inventory module also helps in making the flexible format for the tender documents, quotations, taxes, warranty conditions and vendor quotation entry. Even the MasterSoft helps in automating the two main processes in the educational institutes. It includes:

• The flow of Purchases and Store Information
• Store Reports Generation

The flow of Purchases and Store Information

The store management software helps the educational authorities to maintain the following and keep their track accordingly:

• The flexible requisition of goods from the online resources and approval by the authority
• For issuing approved material to the various departments and the users
• The automatic generation of the indents by the stores for the procurement of the goods
• Record the acceptance of goods and the details of the verified person.
• The educational institutes prepare the quotations, and the tender documents
• Manage the received tenders or the quotations
• Auto-generate the PO receipt.
• Generation of the comparative statements by the educational institutes and the vendor recommendation
• Invoice management
• Maintain the receipt of the goods and passing of the invoice of the vendors for the payment.
• This automation software facilitates rejection or returns the goods

Stores Reports

The inventory management software module helps the educational institutes to procure the processing documents, including tender documents, purchase order, quotation calling letter and comparative statement. The other features are,

• Keep the note of the stock book
• Facility maintaining the goods receipt register
• Maintenance of the dead stock register or DSR for writing about the unused stock that needs to be returned to the vendor
• Maintain the daily report of the educational institute's store
• Preserve the requisition or the indent reports
• Helps in making the balance quantity report that states about the balance of the goods or supplies remaining with the educational campus
• Automates the process whereby it helps in mentioning about the item wise investment or maintains the item ledger of the goods.
• Upholds the reorder level report
• With the help of this inventory management module, the educational campuses can also maintain the department wise inventory report. It carries the details of the goods that are procured for each department present in the academic campus. For example, the procurement of acids or chemicals by the chemistry department and existing stocks.
• Assist in accurate maintenance of the invoice list or item list or the vendor list of the goods.

MasterSoft helps the educational institutions in managing the inventory effectively using the advanced technology. They provide unmatched solutions by adopting cloud technology, RFID, and mobile enhancement technologies at affordable prices. Moreover, the store management software from MasterSoft is enough flexible and scalable to outfit your custom requirement and workflow implementation.