Inventory Management  

Each and Every Inventory Investment Matters!

 Are you sure as shooting that your inventory is well controlled? Do you know about the true picture of inventory? Does it seem that you spend quite a lot of time money on your inventory registers and yet hardly have records that can be entrusted? 

There is no other alternative than managing inventory well, to run a business successfully. You surely would not love to fool around stacking millions of money in the inventory. You have got to be sure they don’t ‘walk off’ and you can’t afford to leave them sitting idle for too long. A great way to protect your unwanted expense is, having a delicate Inventory Management System. 

Inventory Management is an inventory tracking system that lets you know up-to-the-minute elaborate information on each item in your inventory. You’ll exactly know how much inventory comes in, on purchase order, work in progress, how much is on hand now and where it goes. It is the root of your sales, purchase and manufacturing jobs. 

 With Inventory Control, You Can:

§          Have the up-to-the-minute quantity status any item in your inventory at a keystroke.

§          Be able to get automatic conversion between ordering, stocking and consumption units of measures.

§          Categorize of items for analysis purpose; reorder level for exception report.

§          Stock status for each item and each warehouse showing quantities on customer orders, allocates to customer orders, in picking, on manufacturing orders, kited to manufacturing orders, kited to transfer orders, goods-in, stock in hand etc.

§          Know the value of your current inventory.

§          Be able to use multiple warehouses for receipts and issues.

§          Get on-line help of complete stock status (quantity on order, allocated, on hand etc.)

§          Generate physical inventory tags.

§          Move quantities between inventory locations as needed.

§          Be able to create references to other organizations’ item codes to your item codes, which allows for entering transactions and printing of documents by any of the codes.

§          Get stock status by batch numbers.

§          Keep extensive supporting information about inventory item.

§          Be able to make inventory costing and facilitate generation of stock ledger by three types of costing method – Weighted Average Costing, FIFO costing & Batch Costing. 

Reports and queries you will get:

§          Item master information based on item code or description.

§          Transaction listing for a given type (issue, receipts etc.) for date specified.

§          Stock listing at different locations.

§          Detailed stock status (includes stock on hand, on order, in picking, allocated, inspection etc.

§          Stock Valuation.

§          Item reordering list.

§          Stock ledgers.

Integration with other modules:

§          Links to Purchase Order for update of material receipt.

§          Links to Order Processing for update of customer order and dispatch information.

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LAST UPDATED: Tuesday, August 12, 2008