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Inventory Management
Inventory Count is the method of monitoring what is in stock for certain items and certain storage locations. This is also known as a stock take.
Using the Inventory Count Setup function you can define templates, or setups, which contain the scope, operating conditions and analysis categories for a particular type of Inventory Count.
Each template optionally defines the following:
Whether or not it is a 'full' or 'cyclic' count. How the count will operate. The range of warehouses, zones, locations, items, batches, item analysis, storage characteristics etc., to be included. Whether or not tolerances are used and, if so, what they are. Any overrides to display to the user when generating a count. What movement types to use when updating the inventory.
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Full - this processes all the items defined. Cyclic - this uses the last counted date, count frequency, number of counts on a warehouse and random item selection mechanism to define what appears in a count.
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Write-on
Used in the Inventory Count function, this is the process of balancing the inventory quantity held on the system with the physical quantity held in an inventory storage location by creating a receipt.
Write-off
Used in the Inventory Count function, this is the process of balancing the inventory quantity held on the system with the physical quantity held in an inventory storage location by creating an issue.
Tolerance values can be defined, below which a write-on or write-off will be automatic, but above which manual authorization is required. Tolerance checking is optional and can be switched off if not required. If it is switched off, any tolerance values are ignored and write-ons and write-offs automatically generate inventory updates.
Inventory Count generates movement orders to write-on or write-off inventory. A movement order of the receipt type is used to write-on inventory and a movement order of the issue type is used to write-off inventory. Any ledger postings, formulae, costing updates etc., defined on the movement type are performed when creating these orders.
Important Note: Transactions are not stopped within the Order Fulfilment module whilst a count is taking place. Further receipts or issues of inventory made since the count was generated, therefore, must be controlled.
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Cyclic counting in the Inventory Count function enables you to count specific items or locations on a periodic basis, and may obviate the need to perform annual counts. For example, a small section of the stock may be counted each month, so within a twelve month period all the stock will be counted at least once.
A cyclic count is similar to full count but differs in its generation, as described below.
On the Inventory Count Setup, the count method must be set to Cyclic. Define the range of items, locations, etc., to be included in the count. When generating the count, the following is performed:
1. The ranges of items, warehouses, item analysis etc., to be used in the count are retrieved.
2. The system then selects within that range the items to be included in the cyclic count, as follows:
Important Note: These items are defined as a unique combination of item/location.
a. Find the frequency value, that is, the number of counts per year for an item. This is set up on:
Item Master - Inventory Count Cyclic Frequency field. If set to 1000 then look at the Warehouse. Warehouse - Inventory Count Cyclic Frequency field. If set to 1000 then look at the Inventory Business Setup. Inventory Business Setup - Inventory Count Cyclic Frequency field.
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b. Calculate the interval between counts.
Interval (days) = 365 / frequency.
Where: frequency = frequency found in step a.
For example, if two counts per year are required then the frequency equals '2' and the interval is calculated as 182 days.
c. Calculate the next count date:
Next count date = Last count date + interval.
Where: Last Count Date = Date of last count.
Interval = Interval calculated at step b.
Note: If this is the first count for an item/location combination then the item is automatically selected to be included in the count by setting the Next Count Date to 1st January 1900.
d. Carry out the final selection of items to be included and a randomiser:
This can be overridden by the field Include Randomiser on the Inventory Count Setup. This stops the randomiser from being included so that only items which are overdue for counting are included.
e. Sort all item/location combinations in next count date order.
3. Select the number of items to be counted:
Number of items = sum of frequencies of items / number of Inventory counts per year.
Where: frequencies = all frequency values found above.
Inventory counts per year = Inventory Counts Per Year set up on the warehouse, or if set to 1000 then Inventory Business Setup.
For example, ten items are counted twice a year and a warehouse is counted four times a year.
The number of items: (10 * 2) / 4 = 5 items in this count.
Because the warehouse has four counts, each consisting of five items, all ten items will be counted twice a year.
This can be overridden by the field Maximum Count Lines on the Inventory Count Setup. This determines the maximum number of lines to be included.
If the check box Include All Locations is checked on the Inventory Count Setup, then all locations are included for the item. Each item/location combination is treated as one item in the number of items to be included.
4. Generate the count lines.
The number of lines generated is five, from step 3, and then the first five items sorted by the next count date, from step 2, are included. When generating, the last count date for the item/location combination is updated so that it is not included in the next count.
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Movement Types allow you to define different types of movements used in your system. For example, you can define how allocation is treated, when an account code must be entered, the stages a movement transaction must pass through, and the forms to be used at each stage. Movement Types do not have either a supplier or customer associated with them. |
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You can set up specific information for the stages to be used in a Movement Type. For example, the sequence the stages are processed in, and the document format to be used.
From the Action menu within Movement Types Setup, select MO Stage. See What are the Stages in the Inventory Process? for more explanation about these stages.
The form contains the following fields: |
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Movement Type Values Setup enables you to define the values used in the Movement Type. From the Action menu within Movement Types Setup, select MO Value. The form contains the following fields: |
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