Procurement and Stores

LSAcademia offers a set of modules to automate all the activities of acquisition, maintenance and utilisation of assets and consumables, leading to efficient management of the resources of the institute.

Procurement

This module facilitates procurement of all the items; consumables or non-consumables through direct purchase or tendering. It streamlines all the processes involved in the purchase cycle and tracks each purchase comprehensively. Purchase Requisition can be created and approved online followed by raising the purchase indent and final approval from established approval hierarchy. System supports all channels of procurement viz. Direct Procurement; RFP/RFQ based Procurement, Tendering and also Donations/Gifts. This is further integrated with Purchase Order generation, receiving of items, inspection of items, return of defective items and payment processing. Comprehensive workflow is available to view/track order fulfilment and payments.  Vendor Management function allows to register new vendor and also monitor their performance through Vendor Rating system. Provision is also available to black list/block vendors. Reports can be generated for each stage of procurement process.  This module improves the overall efficiency and transparency of the procurement process.

Stores

LSAcademia provides the flexibility to maintain multiple stores with handling of both consumable and non-consumable item stocks. Items can be inducted into a store against a purchase order, as a donation or under transfer. Each store item can be labeled. A customised labeling system (manual or auto-generated) for items can be created as per requirement. The stock of consumable and non-consumable items is maintained separately. The system automatically tracks the stock levels of the consumables and gives alerts for low quantity levels. For non consumable items/assets there is provision to allot or de-allot them to the users. The system monitors the various states of the an asset during its life cycle like ‘gone for repair’, ‘loaned out’, ‘transferred’, ‘donated’, ‘auctioned’, ‘disposed’ etc.  For non-consumable items an approval hierarchy  can be created in the system for issuing them against a ‘Request’ or ‘Receiving’ them back. The module provides several useful reports like Induction Report, Stock Register, Depreciation Report, etc.