This chapter gives you an overview of the Instruments Inventory Tracking (IV) module of Oracle FLEXCUBE.
This chapter contains the following sections:
Banks and other financial institutions use a variety of pre-printed instruments for their daily business. These instruments are normally ordered in bulk and distributed internally for daily transactions. Most of these instruments have a pre-determined value. Some instruments may have numbers that are internally controlled. In either case, your bank may need to control the inventory of such instruments and ensure prompt replenishment when re-order levels are reached.
The Instruments Inventory Tracking (IV) module is built to maintain stocks of various financial instruments that the bank handles in the daily business. This module enables you to define new financial instruments with ease and minimum customization.
The following financial instruments come under its purview:
The IV module provides you with the following features:
The IV module comprises of the following high-level functions:
The following sections give you a brief overview of the IV module’s various functions and features.
This section contains the following topics:
Parameters Definition for currencies, denominations and re-order levels is completely user defined and flexible. Since different banks have different workflow requirements for inventory control, the module provides a means to define the bank’s workflow for inventory control and then tracks the status of the instruments based on the defined workflow.
Different stocks, different currencies, different denominations for each instrument and re-order levels for each type of instrument can be defined and tracked separately.
Some instruments may not be denominated. In such cases they are tracked only by numbers and not by value. For these cases the denomination value will be defaulted to zero.
Re-order levels can be defined for each type of stock i.e. different re-order level are possible for each issuer, currency etc. This makes tracking and replenishing easier as the procurement time for each type of instrument, issuer or currency is different.
The IV module supports tracking of the flow of inventory from the supplier, through the various departments of the bank, till the final delivery to the customer. The module also supports tracking of inventory replenishment requests, made from within the bank, until the fulfillment of the request.
Each and every bank will have different workflows for inventory. The IV module allows you to define the workflow (or stock flow, as you may call it) and then tracks the inventory based on what you have defined.
Comprehensive drill-down inquiries are available for Balance-On-Hand Quantity and Stock Transaction inquiry. All these inquiries allow you various parameters for narrowing down the results to individual stock summaries, denomination-wise summaries and even individual instrument serial numbers.
The Comprehensive Usage Analysis feature enables the bank to track the usage of inventory and also the ageing of inventory. It helps the in identifying whether inventory is used according to age and to check reasons for ad-hoc indent requests. Usage analysis helps the bank to plan for better utilization and prompt ordering of inventory.
The IV module interfaces with the CASA and Teller modules of Oracle FLEXCUBE. The interface helps in generation of the next available instrument serial number based on the inventory. It also helps in keeping an update of the inventory status.
The nature of the IV module’s interface with Oracle FLEXCUBE is briefly explained below.
CASA Module
The CASA module has transactions that capture the issue of personal cheque books to customers based on their request. The interface to the IV module is restricted to the “issue” phase alone, since inventory will get updated only on issue. When the cheque comes in for inward clearing, only the individual status of that particular cheque changes and this will not affect the inventory in any way.
The interface takes care of the following with respect to the issuance of cheque book to a customer:
Teller Module / Web Branch module:
The Teller / Web Branch module of Oracle FLEXCUBE has transactions that capture the issuance of passbook, banker’s cheque, demand draft and traveller’s cheque to customers. The interface to the IV module deals with only the issue of stock to the branch and customer (as inventory status gets updated only on issue of stock).
The interface takes care of the following:
Note
For banker’s cheques, demand drafts and traveller’s cheques, the generation of the next available instrument serial number is based on the combination of instrument type and issuer code. This is handled by the Teller module itself.