home textile industry process
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7/23/2019 Home Textile Industry Process
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TEXTILE INDUSTRY
PROCESS
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Challenges in Home textile industry
Inventory maintenance
Purchase of Materials
Tracking of RM in subcontractingprocesses
Production
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Processes involved in Production of FG
Purchase of Raw Material (Fabric RM)
Purchase of Raw Material (Yarn)
Purchase of Raw Material (Raw Cotton)
Yarn Conversion(Subcontracting)
Dispatch
Dyeing & Bleaching(Subcontracting)
Cone Winding (Subcontracting)
Folding(Inhouse)
Packing(Subcontracting / Inhouse)
Warping
(Subcontracting / Inhouse)
Weaving(Subcontracting / Inhouse)
Cutting(Subcontracting / Inhouse)
Stitching(Subcontracting / Inhouse)
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Executive Summary
Materials traceability- WIP traceability for both in-house production and subcontracts
Subcon reconciliation- Material reconciliation between issues and receipt
3 Way Matching while payment- Purchase Order – Goods receipt – Supplier Inoice
!ost center based report- !ontrol oer sales order and cost
!omply with Statutory and regulatory norms Multiple currency
- "#change rate is maintained
3$% & Standard reports Gain aluable insights across your business processes' and
ensure sound and timely decisions
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Purchase Management
The Raw Materials purchased may beCotton/Yarn/Fabric which areimported based on the market availability and rates.
The purchase module is handled withmultiplecurrencies
Multiple Unit of Measure (UOM) for single item based on Purchase, Sales & Inventory Stock
Maintenance The Purchase & Sales module has multiple Taxes and Charges discounts
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Subcontracting Management
In Textile Industry, more than50% of theprocesses are subcontracted to local suppliersin and around the location
Tracking of Raw Material issued to each Supplier
with respect to Subcontracting Order and Issue
Reconciliation of the Issued material againstthe receipt of Ordered goods
RM purchased from Supplier A is supplieddirectly to Supplier B for subcontracting forsupplying SFG has also been handled
Separate Subcontract Register to track Orders,
Issue and receipt of materials.
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Payable Management
The Payment of Supplier A has to be given toSupplier B can be handled
The Supplier can be treated as both Supplier as
well as Customer. The supplier purchases RM todeliver goods against the PO released to him
A common Ledger to view reports of both Supply& Sale to Supplier
A Supplier can be mapped with multiple TDS andseparate Register to track TDS based on Nature ofpayment
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Payable Management
The Item based Debit notes are raised for allPurchase Returns and hence no separate Debitsnotes are required to be raised
Post Dated Checks (PDC) for Regular paymentsissued to Suppliers
PDC for Advances issued to Suppliers with onlySupplier Ledger featuring the PDC and the Bank
dynamically reflecting PDC based on processing
All the expenses can be accounted through directinvoicing
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Sales and Shipping
The Export Invoices require documentations likepackslip and Invoicing which are available inSystem
Multiple methods of Sales accounting like Order-packlip-Invoice, Direct Invoicing & Direct Sales isavailable
Status Sale Orders booked, material dispatched
and pending shipment reportsare available
The local sales can be accounted in DirectInvoicing which requires no Order. The Retail saleof goods against Immediate Cash can be
accounted through Direct Sales
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Receivables Management
The Bill discounting method is handled in the ARmodule. The Debit Documents are presented inthe Bank for which a contingent amount will begiven by the Bank. The payment deposited by the
Customer shall be credited against the contingentamount thus realizing the amount.
Tracking of Receivables based on due dates andcredit terms has been handled
Multiple Foreign currencies are handled withclear tracking of exchange rate fluctuation
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Inventory Management
Stock valuation methods like FIFO, Actualcosting, Standard & Moving Average are available
WIP at each stage is traceable.
Issue, Receipt and Return of materials withproper reference documents.
Proper Gate Entry/ Exit System to track material
movements within organization. Stock Movement Reports to track items by eachtype of transaction
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Inventory Management
Maintenance of other Stocks like consumables,Packing materials etc
Multi-Warehouse and Multi Locations supported
Online stock status and valuation
A separate process of stock taking (PhysicalInventory) can be accounted in the system
Supplier warehouse can be created to trackmaterials with Supplier
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Management Accounting
Tracking of Expenses and Income based onlocations and processes
Multiple level of Cost Centres
Profitability statements for the Cost Centres
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Production Management
Each stage wise productions can be handled
Material Issue and receipt based on work orders
Consumption reporting for each work orders based on Issue and Receipt of Production
Each Resource wise tracking and reporting ofproduction
Detailed activity chart like start and end ofproduction runs, problems and batch activity etcfor each Resource.
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Management Information System
Module wise reports
• Excel format
• Pdf formats
Financial Statement
Balance Sheet in USGAAP & Schedule VI
Trial Balance
P&L statement
Profitability reports
All reports with high volume of data are directly loaded inExcel format
Currently there are 310 standard reports available in the
system
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Thank You
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