Inventory Module in Finacle - Movement of Inventory between locations using menu options : IMAUM and IMC ,Part - I

This weekend, we will cover the Inventory Management Module in Finacle and related finacle menu options  , Before going in to details lets understand what we mean by the term  Inventory in our Banking domain . 

Cheque Books, Demand Drafts, TPO, FDR, Cash Order etc. are known as the Inventory in Banking sector . As  per  the  manual  procedure followed in Banks ,  these  forms  are  kept  in Double Lock (DL) when they are received from Stationery Department of a Bank. Before printing/issuing  such  instruments to the Customers ,  it’s  very  necessary  to  move  such  inventory from DL to the Employee location.

In  Finacle, through  Inventory  Movement  Module, these Security Forms are moved from one location to another location like from Outside location (stationary division) to Double lock (i.e. branch), from Double Lock to Employee, from Employee to another Employee.   IMC is the menu option used in  Finacle through which the inventory can be moved from one location to another location. 

The Inventory Module is  especially used for  storage, transfer  of  Security  Items  and  release  of  security  items  to  Front  Office  personnel  for  normal Banking. There are various types of inventory locations as per below:

1. ZZ- EXT   : External to the System  i.e Stationary Department an External Location
2. DL-DL     : Double Lock  i.e Two authorized Supervisor officials
3. EM- User ID : Employee Code i.e Location of Tellers / Clerical Staffs alloted by   Supervisors

Location Codes	Description	Meaning
ZZ – EXT	External to the System	Inventory receive by the  branch from Head / Administrative Office/ Stationary Deparment i.e. from external location
DL - DL	Double Lock	It   keeps   in   double   custody    of   two supervisors of branch
EM- User ID	Employee Code	Supervisors    allot    or    distribute    the inventories   to    the   front   desk   tellers for issuing to the account holders

Before movement of different Inventory , we have to assign two authorized User ID’s for transfer of Inventory from External Location  to  Branch’s  Double  Lock.  The  custodian  and  the  supervisory  official  will  put their respective user ID’s. Most often these Inventory Management functions are permitted with authorized users with higher user Class ( Officers in Banks are allowed normally for Movement of such Inventories )

Let us see the process or flow of the inventory.

For Inventory Movement Authorization 

To specify authorizers for the location classes, we have to use the menu option  IMAUM in finacle. Any changes, Addition(A) / Modification(M)  in IMAUM does not require verification by another user in finacle.

Menu Option : IMAUM

Select function A to add two authorised User Id’s for transfer of Inventory from External Location  to  Branch’s  Double  Lock as show in following screen.

You can also use function M  to modify the Supervisor Officials. The  finacle menu  option  for  transfer  of  Inventory  from  one  location  to  another  (from  External  to branch’s  Double  Lock  and from  Double  Lock  to Employees)  is  done  through  Option  IMC which is illustrated next.

For Inventory Movement Between Locations  ( ZZ-EXT to DL-DL)

Menu Option : IMC

This menu option IMC is used for movement of inventory between different locations:
From ZZ-EXT to DL-DL
From DL-DL to EM- USER ID

• Enter A for ADD, in Function field and Press F4, the 
• cursor will appear in the next block at SOL ID & From Location field.
• Enter your SOL ID in SOL ID field & ZZ and EXT in From Location field.  Same SOL id is to be entered in To Location SOL ID Field (as the inventory is being moved from outside of the system to Double of the system of your branch only) & Press F4 the cursor will appear in the next block at the Inventory Class/Type field  as shown below: 

•  Enter Inventory Class like CHQ for Cheque Book, CO for Cash Order, DDS for Demand Draft, SI for Stock Invest, TDR for Term Deposit Receipt, TPO for TPOs etc.  The list of Inventory Class can be seen by press F2 which are shown as below:

   

• The type of inventory will be automatically be selected if the class is selected from the list by pressing Shift and F4, otherwise enter the type of inventory and press Tab or Enter key to go on to the next field.

• Alpha :  Enter Alpha Series of inventory e.g. BCZ  & press Tab or Enter key to go on to the next field.
• Start No :  Enter Start No. of inventory e.g. the start no. is 100001.  Press Tab to go on to the next field.
• End. No :  enter the end no. of inventory   e.g. e.g. 100100 &   press Down Arrow  Key the  system  will  automatically  display  the  quantity  which  is  being moved and the cursor will appear on the next line as shown below:   

•  Finally, press F10 to commit and save the record and as a result , The system shall generate an Inventory Transaction No. like 162006 (as shown below). Please note this transaction no and get verified this inventory transaction by a different Employee through the menu option IMC

      

Verification of Inventory Movement:

• Enter finacle menu option IMC, enter V for verification and press Tab to go on to Inventory Transaction No. field
• Enter Inventory Transaction No ( Here in our example it is 162006)  and press F4 to go on to the next block.
• Then System  shall  show  the  following  screen  displaying  the  record  of inventory to be verified.

     

• Press F4, the system will display another screen as follows: 

    

Here, you are required to enter password of Authorized Officials who can operate Double Lock and  the authorized officials have to enter their passwords in the respective fields. On accepting password the flag of password will automatically convert to Y from N as shown above. Finally Press F10 to commit. And The system will give the message Record Verified as shown in next screen.

   

Next Step is to move the Inventory from the Double Lock to the Employee,  we are covering this in our next Post " Inventory Module in Finacle - Movement of Inventory between locations using finacle menu options : IMAUM and IMC ,Part - II ". 

Needless to mention , your feedback on this post are always welcome . and do not forget to mention if any errors detected by you in above steps. Do share and post your rectified steps in comments so that  precise knowledge on this subject can be shared among our bankers.