Intelligent Optimization of Import Efficiency-Automated Goods Receipt Process in the Life Science Industry |
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| © 2023 by IJCTT Journal | ||
| Volume-71 Issue-4 |
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| Year of Publication : 2023 | ||
| Authors : Ravi Dave, Bidyut Sarkar | ||
| DOI : 10.14445/22312803/IJCTT-V71I4P108 | ||
How to Cite?
Ravi Dave, Bidyut Sarkar, "Intelligent Optimization of Import Efficiency-Automated Goods Receipt Process in the Life Science Industry," International Journal of Computer Trends and Technology, vol. 71, no. 4, pp. 62-72, 2023. Crossref, https://doi.org/10.14445/22312803/IJCTT-V71I4P108
Abstract
This article focuses on optimizing import efficiency in the life sciences industry through the automated goods receipt process. The objective is to investigate the potential benefits of automated goods receipt adoption in enhancing import efficiency and reducing operational costs. In addition, the paper aims to illustrate the process of performing an automatic goods receipt for an import purchase order inbound delivery immediately upon creating the inbound delivery. The article outlines the importance of automatic goods receipt in finance, procurement, and warehousing. The requirement for an automated goods receipt arises when the customer owns the inventory when the goods depart from the vendor location, specifically for import vendors with incoterms Free on Board or Ex Works. The paper discusses the significance of this requirement in terms of finance's desire to own the dollar value, procurement's need to include the inventory in Material Requirement Planning but not make it available for ATP-Available to Promise for sale, and warehouse's aim to avoid having to perform goods receipt for in-transit inventory. This paper aims to provide industry professionals with valuable insights into adopting automated solutions for goods receipts in their operations. It presents a detailed analysis of the automatic goods receipt process and its associated value additions. The paper aims to aid organizations in enhancing their import efficiency, reducing operational costs, and improving financial control and accountability by adopting the solutions presented.
Keywords
Business Automation Solutions, SAP S/4 HANA, Logistics, Import Processes Efficiency, Life Science Industry.
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