Item Issue & Item Received in Inventory Management
Item issue and item receipt are commonly used terminology in the Inventory Management System. Item is issued by storekeeper when the demand is raised by the different department. The quantity of material and its related specification is first documented and then sent for further proceeding.
Item issue entitles the details like which item is issued, for which department, to which person and its designation, and for what purpose. An item might be issued for many reasons. Whereas, an item receipt is issued when an item is brought back to the warehouse. Item receipt also entitles similar information like the date it was issued, to the person and department it was issued and the date it was received back.
Since, the Item Issued & Item received note contains every information in regards to the product, that is being delivered, so it minimize any case of any in between forgery.
Item issue and item receipt, both the processes are followed in well formatted manner and strategically, thus avoiding any mismanagement. That makes an organization work in a very systematic manner.
Since, the Item Issued & Item received note contains every information in regards to the product. A Receipt is helpful for both the customer and vendor to get acknowledged where they are in the purchase cycle.
Online item issue and item receipt process gets more user friendly, as complete data can be retrieved as and when required. So it can help the organization if future.
Online item issue and item receipt helps delegating all the processes involved in a streamlined and well formatted manner. Being online, all the details pertaining to item issued and receipt are available within a click .For any firm ,be it small or large, the usage of software has become a necessity to upgrade the system to maintain consistency and defined time constraints.
In Online item issue and item receipt some tentative date is also mentioned, which directs the vendor, when and where he has to deliver the good. It smoothens the process efficiently & coordinate the time accordingly.