Smart Inventory Management System

Theme: Commercial Excellence & Marketing Excellence

Expected Pilot Duration - 1 Months

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Challenge Summary

Absence of a Digital logging system for inventory management (raw materials and finished goods) leads to labourious & time intensive process in locating and hinders planning activities connected to production due additional time consumed.

Challenge Scenario

  1. At present the weighment and tracking of raw material & finished goods are done manually. The raw materials received are weighed and stored in a yard house. This further is distributed to various plants based on the demand by the plants through a manual record logging process such as declaration forms & acknowledgment letters.
  2. The goods of 600-700 coils are stored indoor in one warehouse space of LxWxH=60m x 20m x 10m and half of the goods are stored in open space outside the warehouse due to space constraints.
  3. The total time taken for locating the product and loading the product takes approximately 4 hrs Vs 1hrs where the additional time consumed for locating the inventory. The existing system will reduce their dependence on manpower if its fully automated which will perform the below functions :
    • Processing customer order deliveries.
    • Inventory demand fulfillment.
    • Managing real-time data, which is essential for warehouse operations.
    • Performing tracking tasks
  4. Currently, there is an existing SAP system that's in place where the details are fed on goods produced which in turn generates the product number
  5. A single platform/dashboard for plant inventory operations : Unloading - Weighment - Storage - Consumption

Profile of the end users

Production Team

The visibility of Raw Materials availability and consumption tracking of each goods.

Logistics Team

After the production , the inventory is handed over to the logistics team. They will further dispatch the goods on time if there is a visibility of location of Finished goods.

Solution Requirements

Movement tracking of RM - Tracking/Visibility of RM from Unloading - Weighment - Storage - Consumption.

Real time tracking of FG from production to QC department , the warehouse storage and dispatch Dashboard for metal accounting.

Reduction in loading Finished Goods TAT - from 4 hrs to 1 hrs.

Proactive planning on production of goods by having complete visibility on metal accounting .

Single platform or complete plant operations for Raw materials and Finished goods.


Expected Outcomes

1. Quantified Metrics & Outcomes:
Operational KPIs/Metrics Current Value Expected Target Value
Tracking of raw material and finished goods 1 manpower /shift 0
Loading of finished goods 4 hour 1 hour
Movement of vehicles ~400 km/day ~320 km/day
2. Qualified Outcomes:
Operational KPI/Metrics Current State Expected Target State
3. ESG Impact:
ESG Metric Target State (Expected)
Energy and fuel ~10-15% fuel reduction in vehicles by optimization of vehicle movement.

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