RightAngle Customizations for Inventory Reporting Process - Value Creed

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RightAngle Customizations for Inventory Reporting Process

Enhance Inventory Management with RightAngle Customizations

Looking to view and analyze live inventory data across multiple terminal locations?

With RightAngle customizations, you can now streamline the inventory reporting process by creating multiple reports that provide users with comprehensive insights into their inventory positions. The real-time reporting capabilities of our customizations help to proactively manage inventory positions and mitigate any potential risks. Users can now quickly view and analyze the live inventory data across multiple terminal locations, which is further drilled down to the tank level, which enables better-informed trading decisions and improves operational efficiency.

Pre-Customization Challenges

Inventory Reconciliation

Manually comparing the terminal inventory data with the inventory transactions in the RightAngle recon groups.

Inventory Update

Updating the physical inventory maintenance with inventory balances from various storage facilities at multiple locations.

Resource Allocation

Reconciling inventory transactions in the Recon groups requires multiple dedicated resources to compare data from various sources, including terminals and 3rd party applications.

Manual Export

Inventory data from different reports were being copied/exported from the RightAngle by the users into an Excel sheet manually daily.

Value Creed's Diverse Customization Solutions

Customized jobs and reports help to make the inventory management process more efficient by providing the users with the necessary inventory data in a timely and accurate manner. The custom reports eliminate the need for manual searching and sorting through multiple reports, saving time and reducing the risk of errors. They are designed to automate inventory updates, ensuring that the data is accurate and updated, reducing the risk of missed trading opportunities and operational risks.

Below are the custom jobs that can be developed for the users which can streamline the BUSINESS PROCESS immensely:

Custom Physical Inventory Balance jobs in RightAngle automate the input of daily tank readings, saving time and reducing errors. They calculate total volume accurately for specific products, locations, and deal details. Bottoms readings prevent tank levels from dropping too low, ensuring smooth operations. The Recon Tool enables efficient month-end closing by reconciling inventory. These jobs can import inventory data from different file formats, enhancing their versatility. Overall, they improve inventory management, streamline processes, and increase accuracy in RightAngle.

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The custom job, Terminal Inventory, streamlines the import of terminal data files into the RightAngle system. It automates the process by receiving the data file, handling various formats, and importing it into a staging table. The data is validated and a .csv file is generated with valid BOL information. This file is used for inventory reconciliation. The automation saves time, reduces errors, and eliminates the need for manual data import.

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The Terminal Inventory Recon job compares terminal movement data with inventory transactions in RightAngle. Previously, relying solely on RightAngle calculations led to discrepancies between displayed and actual inventory data. This manual process was time-consuming and error-prone. The custom solution automates the import and comparison of terminal data with inventory transactions. Discrepancies are flagged as “Disputed,” and missing transactions are labeled as “Missing.” This process saves time, reduces errors, and enables users to resolve discrepancies for accurate month-end inventory closing, resulting in cost and time savings.

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The Auto Agree custom job automates the process of marking inventory transactions as agreed in recon groups, eliminating manual work for users. It compares terminal data with recorded transactions, marking matches as agreed and discrepancies as disputed. Missing transactions are deleted once their relevant BOLs are available. Previously, manually marking transactions was time-consuming and overwhelming. The Auto Agree job saves up to 4 hours of daily manual work, reducing resource costs. It improves accuracy and speed in month-end closing activities, ensuring a balanced inventory.

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Configuring the core report distribution task, the distribution of inventory-related reports in RightAngle can be streamlined. Users can now receive the reports in the format they prefer, without having to manually export and save them for analysis. The task automatically sends the reports to users via email and saves a copy in a shared folder at specified intervals, saving a significant amount of time and effort.

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The custom 3^rd Party Inventory outbound job sends the inventory data such as the quantity, schedules, WACOG value, and more details from RightAngle to a 3rd party tool in a certain format that is accepted by the tool. This helps the users to maintain their data across multiple tools to aid their business. Depending on the number of transactions this can save 6 to 8 hours daily and avoid any manual errors and discrepancies.

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Below are the custom reports that we have developed to streamline the INVENTORY MANAGEMENT in RightAngle for the business:

The Physical Inventory Balance Report provides an overview of the tank-level inventories that are interfaced with RightAngle through the Physical Inventory Interface. The report is generated by an aggregation task that sums up all tank readings for a given product, location, and deal detail, which are then stored in the Physical Inventory Maintenance report.

This report also displays the estimated inventory at the end of each day, which the workbench calculates based on schedules for specific deals and the type of transaction (buy/sell).

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The Terminal Data Staging Interface report retrieves data from the terminal inventory jobs and imports it into RightAngle with complete, error, and invalid status. This report serves as a filter to ensure that only valid files and data are imported for inventory reconciliation.

The staging table ensures that only the valid BOLs are imported and that users are presented with relevant data in the main report. This helps to minimize clutter and streamline the reconciliation process while ensuring that data accuracy is maintained.

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The Search Terminal Inventory Recon Interface report is a crucial tool for users to maintain a balanced inventory. This report compares the net quantity of terminal data with inventory transactions and updates the inventory recon status as missing, unreconciled, agreed, or disputed.

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Key Results

Value Creed’s proposed solutions can make the current process efficient for the users by reducing manual efforts, improving accuracy, providing timely information, empowering better decision-making, and generating cost savings for the business.

Automation of Processes

The automation of various jobs and reports has led to a significant reduction in manual efforts. our custom solution will save up to 90% of the time when compared to manual intervention needed for importing, exporting, and comparing the inventory data across multiple systems for correctness.

Improved Accuracy

The automated jobs and reports ensure that the data is accurate and up to date. This helps in avoiding manual errors and discrepancies that can be costly for the business.

Decision Timeliness

The reports provide users with timely information about inventory balances, terminal data, and inventory reconciliations. This helps in making informed decisions and taking corrective actions and users to make better business decisions.

Decision Timeliness

The reports provide users with timely information about inventory balances, terminal data, and inventory reconciliations. This helps in making informed decisions and taking corrective actions and users to make better business decisions.

Value Creed Services Deployed

Value Creed provides a comprehensive range of services to deliver a one-stop solution that meets the client’s needs and improves their business processes.

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© 2024 Value Creed

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Get In Touch

+1 (833)-282-7333 | info@valuecreed.com

By calling or texting this number (833) 282-7333, Customers agree to receive text messages. If you no longer wish to receive text messages,
you may opt out at any time by replying “STOP.”

© 2024 Value Creed

All Rights Reserved