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The Inventory system is designed to control and manage inventory effectively resulting in the following benefits;
- Reducing inventory levels without sacrificing the ability to satisfy customer demand.
- Releasing capital tied up in slow moving, dead or obsolete inventory.
- Identification of inventory that is selling and profitable.
- Controlling shrinkage through improved inventory control and inventory count procedures.
- Providing accurate and reliable inventory data with which to assess sales trends and place orders.
The Inventory system provides the necessary control and management tools required to achieve these aims.
The system may be used as a stand-alone system or integrated with Accounts Receivable, Sales Order Processing, Sales Analysis, Accounts Payable, Purchase Orders and other modules.
Important features in the Inventory system are;
- Multiple warehouses
Inventory may be recorded by company, branch and warehouse.
- Inventory numbering
Product codes may be broken down into user definable portions.
- Inventory descriptions
Extended descriptions are provided per product at a branch level.
- Multiple cost prices and selling prices.
Three cost prices with currency conversion and five selling prices are standard.
- On-line inventory status
The system provides the status of physical, allocated, on order, reserved, back ordered and free inventory status when called for.
- Product groups
Inventory may be allocated to product groups for future product group analysis.
- Unit sales history
The last six months' unit sales history of any product may be viewed.
- Sales trend analysis
Using sales trend analysis techniques the system monitors sales, advising the user of demand trends.
- Dynamic re-order level calculation
The standard order quantity, minimum order quantity and dynamic re-order levels are advised by the system.
- Back order management
All back orders are monitored.
- Multiple inventory enquiry options
The product status may be viewed as a company, branch or warehouse. Each of these options allows the inventory masterfile data, movements, orders and supersessions to be viewed.
- Supersessions
To provide continuity of supply to customers, inventory which is superseded by other items can be recorded and subsequently enquired upon at the time of order enquiry.
- Alternative inventory items
In order to reduce out of stock situations, the system will identify alternate products where necessary.
- Sub Stock/Serial number
Products may be broken down into sub-stock levels showing quantities on hand and allocated.
- Optional rotational inventory counting
Products are selected on a random rotational basis for inventory counting.
- Cost update
Standard and average costs are updated according to specified formulae, and are fully traceable through the necessary audit trails.
- Scan
A scan facility that allows the user to `page' through the inventory masterfile, in various sequences. The product code is automatically pre-loaded as the file is scanned.
- Extensive reporting
Reports include inventory turn, excess inventory, obsolete inventory, inventory valuations, back-orders and ABC analysis reports.
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