EVRAZ and ITPS use automation to make inventory process twice as fast

EVRAZ and ITPS Group are implementing a project to automate inventory control. As a result of the 2022-2023 project, the company implemented electronic document management, which accelerated the document creation process and reduced the likelihood of reporting errors. Simplification and reduction of document processing time affected the work of 3.5 thousand employees of key enterprises of the company: EVRAZ Nizhny Tagil Metallurgical Combine (EVRAZ NTMK) and EVRAZ Kachkanar Mining and Processing Plant (EVRAZ KGOK).

EVRAZ is a leader in the Russian metallurgical industry. The company produces steel and steel products and mines iron ore. The main objectives of the inventory are to determine the actual availability of physical assets and compare it with accounting data. During the project, more than 10 paper-based inventory reporting forms were converted to electronic forms. Simplification included documents reflecting the actual availability of inventory items owned, shipped, received and stored, in transit, recording inventory discrepancies, comparing and recording results.

As part of the project, ITPS consultants implemented an ERP class system. The objectives were achieved through automatic detection of discrepancies, calculation of costs, automation of entries, accelerated signing of documents with a simple electronic signature. In addition to that, a mobile application was developed. The electronic form of documents and the unified electronic document database made it possible to speed up the search for documents required by internal and external auditors. EVRAZ and ITPS continue working on the project to develop it further.

"We are constantly expanding the ways in which we can increase the efficiency of our operations. For example, it used to take 10 days to manually fill out paper inventories, locate items and enter quantities. Now it takes 5 days. The implementation of the project has freed the company's employees from this time-consuming process, allowing them to focus on other important tasks. At the enterprise level, inventory automation also helps increase visibility into business processes and minimize the human factor by eliminating manual entry errors," Irina Shchadilova, Head of Production Accounting Department at EVRAZ NTMK.

"Each organization has its own unique structure, business goals, and priorities. That is why we take into account the specifics of each project and work according to the client's individual requirements. Automating the inventory process has significantly reduced data processing time. The likelihood of human error has been reduced, the accuracy of reporting has increased, and the client now receives the most up-to-date information about the assets. The experience gained from the project is of great value to us," said Dmitrii Fedorochev, Director for Implementation and Development of Corporate Information Systems at ITPS.