Cloud-enabled supply
chain management system
FX Material Management System (FX MMS) is a comprehensive cloud module designed to manage your supply chain, inventory and procurement and related processes.
IDS Next’s material management software can be used within a single office while overseeing the needs of an entire enterprise or business chain and covers hotel, restaurant and leisure spheres.
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What Features Can You Expect from Material Management Software?
Auto-generation identification codes
Handling non-stock daily purchase items
Receive non-stock daily purchase items and issue them to cost and profit centres. This allows for the entire process to be streamlined, accurate expenses tracking and cost allocation.
Accurate report generation
Derive accurate financial reporting and makeinformed decisions. Monitor inventory levels, oversee purchases and pending items and track associated costs.
Linking of raw materials to multiple outlets
Material management software enables centralised inventory control coupled with economies of scale and ensures effective distribution of materials to properties based on the demand.
Create standing purchase orders for rate-contracted items
Multi-level authorisation workflow
Advanced recipe management
Audit
trail
Benefit from a detailed record of transactions and changes made within the system, track discrepancies, ensure accountability at each step and meet regulatory compliance requirements.
Material Management Software: A Modern Necessity
Did you know that 71% of global companies claim raw material costs as the most prominent supply chain threat in 2023? The lack of proper inventory management procedure lead to high costs, losses and wastage, which is especially threatening for hospitality businesses that often deal with perishables.
Businesses that do not have records of inventory consumption and utilisation or a way to predict demand often fall short when meeting customer needs and may even face overstocking or deadstock situations. Especially in peak seasons when inventory consumption is high and dynamic pricing is required, not having the necessary stock in hand can dampen a hospitality establishment’s service delivery.
The right material management software can help you save money and maintain customer satisfaction.
What are the Benefits of FX MMS?
Optimised inventory levels
With real-time tracking of inventory levels, businesses can maintain the right amount of stock at the right times. Maintain an optimised inventory and cost accounting, minimising stockouts, excess costs and wastage and stay sustainable.
Cost control and reduction
By accurately tracking purchases, consumption, and wastage of materials in your hotel, restaurant or bar, FX MMS helps in identifying cost-saving opportunities. Achieve better control over your operational expenses, establish cost leadership and gain competitive advantage.
Streamlined procurement
Automating procurement and integrated vendor rate contracts, including purchase requisitions, approvals, and order placements, ensures timely purchase of materials. The software allows businesses to monitor supplier performance, track delivery times, and evaluate quality, fostering better relationships with reliable suppliers.
Demand forecasting
Material management software uses historical data and demand trends to forecast future requirements. This enables businesses to plan their procurement and production processes more effectively. Constant monitoring of consumption patterns also helps your businesses implement waste reduction strategies and stay sustainable.
Improved decision-making
What Are the Benefits of FX MMS?
Optimised inventory levels
Cost control and reduction
By accurately tracking purchases, consumption, and wastage of materials in your hotel, restaurant or bar, FX MMS helps in identifying cost-saving opportunities. Achieve better control over your operational expenses, establish cost leadership and gain competitive advantage.
Streamlined procurement
Automating procurement and integrated vendor rate contracts, including purchase requisitions, approvals, and order placements, ensures timely purchase of materials. The software allows businesses to monitor supplier performance, track delivery times, and evaluate quality, fostering better relationships with reliable suppliers.
Demand forecasting
Material management software uses historical data and demand trends to forecast future requirements. This enables businesses to plan their procurement and production processes more effectively. Constant monitoring of consumption patterns also helps your businesses implement waste reduction strategies and stay sustainable.
Improved decision-making
Access to real-time updates and insights empowers businesses to make data-driven decisions regarding procurement, production, and resource allocation. This leads to more strategic and profitable operations that ensure all critical material is available in your stocks to provide an uninterrupted service regardless of the season.
Watch FX MMS in Action
Learn more about FX Material Management System
Frequently Asked Questions
What is FX MMS?
FX Material Management System is a cloud solution designed to efficiently handle the procurement, storage, tracking, and utilisation of materials in your hospitality organisation. It helps streamline the entire process, from ordering to inventory control.
What are the key features of FX MMS?
FX MMS includes features for inventory tracking, purchase order management, supplier management, demand forecasting, reporting and recipe management.
How does material management software benefit my business?
It optimises inventory levels, reduces carrying costs, minimises stockouts, streamlines procurement processes, enhances supplier relationships, and encourages data-driven decision-making.
Is material management software suitable for small businesses?
Yes, material management software can be an ideal solution for small businesses, as it helps businesses streamline their entire supply and procurement, helping businesses save costs. A cloud material management solution also provides better scalability.
Is training required to use FX MMS?
IDS Next promises extensive support for your business from the moment you choose our software till you implement it at your property, giving you the insights and training to work with our technology. We also have a 24/7 support team for any enquiries and doubts you encounter as you use FX MMS.
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