Inventory Master - Key Elements

Product Code Number - Product Code that identifies the product to the system. A product code can be numeric or alpha-numeric. The length of the product code itself is not limited, but most screens and reports show up to 16 characters.

Description - Name of the product. The length of the description is not limited but most screens and reports show between 30 and 45 characters.

Manufacturers Part Number - Number that can be the primary vendor's stocking number. This can print on Purchase Orders, optional.

Type and Group - Inventory products are assigned to a type such as BOLTS SCREWS SOCKETS WASHERS etc. Useful for isolating specific products for reports and for finding products quickly.

Unit of Measure - The unit it will be stocked, purchased, and sold in. EA if sold singly, 100 if sold in boxes of 100, 300 if sold in boxes of 300.

Average Cost - Weighted average cost, maintained by the system. Presents a true cost. Example, if there are two in stock, one received at $1.00 and one received at $2.00, the average cost is $1.50.

Last Cost - Last purchase or manufacture cost of the product. Used to compare to Selling Price or to Average Cost. Last Cost from vendor for multiple vendors is also tracked, and last cost from vendor is used as the standard reorder price unless modified by the user.

List Price - Used as a first level retail price.

Country of Origin - Used to print on Certificates and box labels.

Gross Weight

Mininum and Maximum Stock - used in reports and for automatic purchase order.

Stock - Number of Units currently in Stock. This can be entered on initial product entry, but subsequently can only be changed through transactions.

Not Committed - Supplied by the System: Number of units available for sale.

Committed - Supplied by the System: Number of units for which orders exist whether blend, packaging or sales orders.

Required - Supplied by the System: Number of Units needed to fill orders whether purchase, blend, pack or sales orders.

Appropriated - Supplied by the System: Number of units appropriated to fill orders.

Not Appropriated - Supplied by the System: Number of units not appropriated to fill orders.

Inventory is tracked by heat number if the Track Heat Number or the Track Lots field is clicked. It's easy for users to track heat numbers. When product moves out or in, the system displays a screen showing all the products on the order with the existing heat numbers. The quantity is already marked for the default heat, so if tracking is not required, the user only needs to accept the default and continue without taking any more time.

Normal system flow:
Sales orders are taken during the day. If the quantity ordered is not in stock or if there is not enough product to fill the orders then the balance goes to required. That night or the next morning, inventory reports are generated to determine which goods need to be ordered to fill the existing reports. If finished goods are required then transfer orders are generated to fill orders which in turn flags raw materials to determine if sufficient stock remains to make the existing orders. Purchase orders can be entered either manually or automatically by the system.

Auxiliary View and Information Screens:

• View Transactions
• Vendor Prices
• Vendor History
• View Usage History
• View Customer Purchases
• View Customer Part numbers

Inventory Control Auxiliary Task Screens:

• Physical Adjustments Screen
• Cost Adjustments
• Verify Files - Used to verify all allocations.
• View and print all currently open orders for a product. This shows the exact status of the product in the system.
• Print & Post Adjustments - Physical adjustments are posted to the general ledger via this program.
• Delete Products - Used to delete products from the inventory master.