The addition of inventory lot traceability can help companies maintain compliance with government and industry regulations, such as the U.S. Food and Drug Administration’s (FDA) Current Good Manufacturing Practice (CGMP) regulations. In addition to helping them meet regulatory requirements, inventory lot traceability can provide financial benefits to companies. For example, one company reports that implementing a computerized system for inventory lot traceability allows the company to trace product throughout its supply chain in 20 minutes. Previously, this process could take up to three days, a costly delay in the event of a product recall. In addition, the company has decreased its expired stock by 80 percent, saving the company approximately $175,000 annually.
Inventory lot traceability capabilities available in IMMPOWER R6 include the following:
—Receive materials by lot and expiration date for first in first out (FIFO) inventory management; —Select materials for use based on lot and expiration date; —Control use of inventory lots by approving them for use in production, rejecting them for any business purpose, or placing them on hold; —Trace materials from receipt to production.
About Revere, Inc.
Revere delivers software-based Enterprise Asset Management (EAM), Computerized Maintenance Management System (CMMS), and Shutdown/Turnaround Planning solutions and complementary products worldwide to companies where asset management is mission-critical and their capital assets are essential to generating revenue. Revere designs its solutions specifically for the needs of industries such as upstream and downstream petroleum, power generation, chemical process, pulp and paper, mining, metals, manufacturing, and transportation.
Revere, Inc. is headquartered in Birmingham, Alabama. For more information about Revere, please visit our Web site at http://www.revereinc.com/ or call 205.795.3681.
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