Inventory Valuation Using AARI Desktop

Companies have to keep track of the cost of financial goods sold using suitable costing methods. With RPA, we have developed a process which enables the end user to use the appropriate costing method.

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Inspiration

People think RPA is only capable of performing a fixed set of tasks - like it were a rigid set of processes that are allergic to change and cannot account for it.

That is simply not true.

RPA is capable of much more, and it can also introduce you - the user, into the loop. This way, you can provide inputs, and the bot will perform operations accordingly.

To show how far RPA has come, we have taken a moderately difficult finance usecase involving Inventory Valuation.

What it does

This process was developed with the goal of assisting finance teams around the globe with inventory valuation.

Instead of having them sit and process hundreds of files, update their database and waste precious hours that could have been better utilized on tasks that draw out their creative potential, the bot assist them by first displaying a form asking them for the operation they wish to perform(purchase or sell) followed by how the data is retrieved(file, folder or manual input) and finally the costing method they wish to make use of.

This is then updated in the database and a mail of the cost valuation is sent across to respective stakeholders.

Ideally, companies sticks to a single costing method which complements their business(food industries tend to stick with FIFO), but we want to show the world that RPA is capable enough to provide the user with a multitude of options/operations to choose from.

RPA isn't some sort of mindless drone which only performs a fixed set of tasks, you can make it much more interactive and user friendly, which is the point our team wants to stress above everything else.

Note: I am using MS SQL to store,validate and manipulate stocks.

How we built it

The process was built using AARI Desktop. Its a combination of Forms and bot actions which guides the user along the process without any confusion. Once the process is complete, the database is updated and a mail is sent across to the concerned stakeholders.

If the user isn't aware of the current stock, the bot has been developed so as to pull out the current stock from the database.

This is provided as a button that the end user can use to check on the stock decides to sell. If he accidentally proceeds without providing the necessary details(e.g. you can only purchase if you provide details of the products you wish to purchase) the bot is smart enough to notify the user and divert him back to the parent form.

Challenges we ran into

Since we were planning on providing the user with all four costing methods, the challenge was to develop a logic for all methods, and integrate them. This was the toughest challenge so far.

Also, we had to pay special attention to scenarios where a user tried to sell stocks that weren't present, so we pooled a lot of effort into addressing that as well. Then there are the many form validation we had to take care of, such as making sure the user provided sufficient details regarding their purchase/selling, before triggering subsequent forms.

Accomplishments that we're proud of

Regardless of the outcome of this hackathon, we learned a LOT. Not only did we learn how to properly use forms, we also realized the sort of potential it holds, and how RPA isn't just "hit play and automate". It can be interactive as well, and even assist the user in making the right decisions.

The best way to achieve that is by using forms. This gets the end user engaged, and RPA stops becoming this software that doesn't like getting disturbed while it does its magic. You too, can take part in the magic and contribute.

Time management is another key aspect of this process. It doesn't matter how great the idea is, executing it at the right time matters just as much. We struggled there, as we had to

What we learned

We have learned basic database operations, using Forms(the right way) and developing logic for complex data manipulation(LIFO, FIFO). We struggled a lot to develop the logic for this, but it also taught us that nothing is impossible as long as you set your mind to it.

What's next for Inventory Valuation Using AARI Desktop

We have every intention of refining this process. There are many areas that can be greatly enhanced. If everything goes well, we could even pitch this solution to customers, as it would aid them and save on FTE. Either way, this exercise helped broaden our perspective, and now we have actively started hunting for similar ideas which can be converted into Automation Anywhere Apps(AAA).

Built With

  • microsoft-sql
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