Inventory Management Functions & Features

The Inventory Management Functions & Features comprise the following elements:

• Adjusting Inventory

  Main modules below cover Manual adjustments to inventory values;User specifies reason codes for adjusting inventory, such as cycle count or poor quality;Secure access via control number to modify inventory transactions;Displays inventory balance information before and after adjustments;Inventory adjustments tracked for reporting purposes;Authorization on individual transaction level;. Adjusting Inventory, Inventory Management Functions & Features

• Inventory Management Data Requirements

  Functionality below covers Provide product line code information on the inventory master file;Provide item number information on the inventory master file;Provide item description information on the inventory master file;Provide unit of measure information on the inventory master file;Provide effectivity information on the inventory master file (absolute date effectivity may be assigned via item number);Provide effectivity information on the inventory master file regardless of its total product structure usage;. Inventory Management Data Requirements, Inventory Management Functions & Features

• Locations and Lot Control

  This covers Set stocking locations for each item as fixed, assigned, manual or assigned by the system;Standard ten-position convention to identify location of items in inventory;A given finished item can be listed simultaneously in multiple stocking places in one site;Users define types to classify storage locations, such as warehouse, store, branch, truck, consigned, return, repair, inspection, department, bulk, or category;Use random locations for storing items;Standard locations for stocking items;. Locations and Lot Control, Inventory Management Functions & Features

• Inventory Management Processing Requirements

  It includes Provide for multiple facilities, warehouses, stockrooms, and inventory locations;Kanban inventory management;Flexible assignment of inventory processing by product and part (kanban and point-of-use);Provide allocation of raw material and component inventory to firm planned or open work order locations;Provide for non-nettable inventory locations;Provide for ABC classification of parts, based on order activity, historic usage/cost, or projected usage/cost;. Inventory Management Processing Requirements, Inventory Management Functions & Features

• Reporting and Interfacing Requirements (Inventory Management)

  Main modules covered Produce system-generated documents for material issues to production runs;Provide inventory valuation reporting by item number, product code, warehouse, production facility, distribution center, or stockroom;Provide reporting of inactive, excess, or obsolete inventory;Reports of inventory by team, planner code, and buyer code;Interface with the general ledger to forward a journal for all inventory adjustments;Provide the ability for a distribution center to run reports or inquiries on inventory status, open order status (sales and production), costs, sales, and quotes for items that only pertain to their specific facility;. Reporting and Interfacing Requirements (Inventory Management), Inventory Management Functions & Features

• Reservations and Allocations

  Main modules covered Reservation days--time fence between soft and hard allocations;Displays online and in real time resources and inventory that are available in a specific location;Item balances maintained by grade specifications and lot number;Available inventory reduced at time of sales order entry;Customizable rules for reallocating inventory across open orders;Immediate allocation of inventory quantities to backorders;. Reservations and Allocations, Inventory Management Functions & Features

• Inventory Management--Online Requirements

  Feature and functions covered Maintain item number history of usage, both planned and unplanned, and purged upon a specific date criteria;Provide capability to track items by lot or serial number;Identify type of transaction;Identify the source of demand;Multi-currency capability;Internal cross-reference to vendor part numbers;. Inventory Management--Online Requirements, Inventory Management Functions & Features

• Forecasting

  Functionality covered Conducts simulation to test policies;Uses beta factor to resolve forecasting errors;Compares actual service levels to service levels specified in policies;Generates initialization and control reports to create and evaluate forecasts;Generates initialization or simulation reports for safety stock;Imports forecast data from spreadsheet;. Forecasting, Inventory Management Functions & Features