TT Ltd Gains Edge with MS Dynamics
About the Company
Founded by Rikhab C. Jain in 1978 under the name of Tirupati Texknit Limited, T.T. Limited is a vertically integrated concern and self contained textile producer and garment manufacturer. It is engaged in raw cotton ginning, manufacturing of combed and carded cotton yarn, knitted fabric, inner wear, and fashion garments.
The company has 25 franchise production units at eight different locations, working exclusively for T.T. Its dealer network extends to 500 wholesalers throughout India and has overseas representatives in Pakistan and Bangladesh. Other than India, it has market in around 30 countries across the globe. Growing at a fast pace, it employs more than 700 skilled personnel and has an annual turnover of around $150 million.
Need for a solution
With various ginning, spinning, and knitting units and offices all over India, T.T. Limited struggled with different manual processes, and locally customized software. In order to fulfill its growing business requirements, the company needed to improve its business operations, and streamline production.
The company was using customized software, called Focus, to cater to its daily commercial operations which could not meet all its needs. The management found it quite difficult to get updated information all the time. The legacy system failed to provide management information system (MIS) reports, financial reports, and payroll-related documents to the head office on a regular basis. Inability to integrate all the units led to delays or inaccurate decisions. Besides, the software was not user friendly.
Additionally, T.T. was not using any application to automate its production processes. Hence, the production planning, capacity planning, work flow, production order and schedule etc. were not streamlined. This resulted in the need to switch over to a solution which would provide real time information to make faster and accurate decisions.
"It was not a comprehensive solution and as such could not cover all necessary financial transactions and business details," said Bhupendra Modi, T.T. Limited. "This drawback and lack of production software forced the management to look for other avenues."
The requirement was to enable the organization to plan the production, schedule and project management, generate MIS reports, have better control over its business processes and develop better decision making capabilities.
TT Limited evaluated several vendors including Oracle, Ramco, and SAP but finally settled for Microsoft Dynamics NAV 4.0 to manage all its production, financial, and commercial operations.
"We decided to go for Microsoft Dynamics NAV 4.0 because of its unique selling proposition - ease of use," said Modi. "We found it very user friendly and easy to customize to cater to the needs of our industry."
CorporateServe, a Microsoft Certified Partner, was the implementation partner for this deployment. The implementation of the solution started in February, 2008, at all the manufacturing units, head office and other offices of T.T. Limited. The solution went live in eight months.
The modules implemented include:
* Sales and receivables, purchase and payables, production management, inventory management, fixed asset management, and human resource management.
* Real Time Gross Settlement System (RTGS) and National Electronics Funds Transfer System (NEFT) Payment Functionality: It generates the report and automatically transfers the funds to the vendors via bank.
* Performa Invoice Functionality: It confirms orders, generates letter of credit based on which export documents to government, custom department and customers are generated. This simultaneously takes care of bill of extent, certificates of quality, weight, packaging, courier, letter of insurance company and issuing bank etc. without any error.
* Parta Sheet and Contribution Analysis: The decision whether the project is profitable or not including the percentage of profitability is based on the Patra sheet. This includes analysis of purchase cost, freight, bank interest and charges, focus market, commissions, target plus etc. Thus intelligent decision can be drawn before giving the go-ahead to any project or order
The other modules covered apart from these are Drawback and Duty Entitlement Pass Book Scheme (DEPB), export and bank document module, bank reconciliation, purchase indent, cheque search and location wise use permission.
The implementation also included advanced production sub contracting with ginning, spinning and knitting and trading of garments. The solution streamlined multi level authorization and work flow. It automated business notification production order, bill of material, production schedule and project management. Besides basic capacity planning and customer relationship management including Microsoft Outlook integration was also implemented.
"The solution has enabled the organization to become more competitive and supple to meet changing business needs. It helped concentrate on the overall business process, increase productivity and save time and money," said Sanjay Jain, joint managing director of TT Limited.
Another key benefit of the solution is its ability to integrate branches and offices seamlessly. Data flows smoothly amongst all the locations. All the units update the MIS reports, the financial reports, project reports and schedules etc. to the head office on daily basis in minimal time.
"Due to the integrated solution, we are able to track and access information across branches with ease," said Sunil Mahnot, VP, (finance) of TT Limited.
Some other key benefits of the solution are:
* Empowers Employees to Take Better Decisions: Because the online information is updated regularly, it empowers employees to take quick and appropriate business decisions and make use of all business opportunities, thus reducing operational cost by five to ten per cent.
* The solution eliminates manual efforts of entering and validating data. At the same time, it provides error free data and reduces the efforts to search for required information. It has empowered the company to save time in many lethargic procedures and sluggish operations by automating them.
* Systematizes Production Planning: It allows the implementation of additional functionalities as the business demands become more complex and permits to adapt quickly to the changes. "This has empowered us to draw realistic plans in accordance to incoming resources, capacity and demand in the market. This has increased productivity by 10 percent, reduced the inventory cost" says Jain.
* User Friendly Interface: It empowers customer relationship management and integrates Microsoft Outlook to the solution. The solution has also reduced training time through friendly and known tools of everyday use. "Integration with Microsoft Outlook helps to keep the schedule current, increase and improve synchronization between Microsoft Office Outlook and Microsoft Dynamics NAV 4.0," said Jyoti Jain, director of T.T. Limited.
* Report Generation: The solution generates accounts and financial reports for automatic transfer of funds to vendors via banks, MIS and payroll reports for human resource department and management. It also provides various reports on quality, weight, shipment, freight, commission etc. for the respective departments in no time. Thus, it saves time, eliminates manual efforts and removes the probability of errors.
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