Warehouse Groups can be set up to link particular warehouses together using Warehouse Group Setup (WGS). For example, if there are Warehouses situated in the same industrial estate you might want to group these together.
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A warehouse is a building used to store items and may contain a number of zones and specific storage locations, for example, shelves.
You can also set up Warehouse Groups to link specific warehouses together. For example, if they are located in the same geographical area.
The Warehouses Setup (WS) form contains the following fields:
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A location is a specific storage area with a particular set of storage characteristics which can be linked to other Inventory Storage Areas, that is, Warehouses and Zones. This is usually the smallest level of location. For example, it could be a shelf in an area of a warehouse. |
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Inventory Costing Setup provides additional functionality within the Inventory module which includes being able to set the following parameters- The stage at which latest and weighted average costs can be updated.
- Whether costs are kept in all currencies set up for the Business Unit.
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The most recent Actual Cost. This appears as an Item Cost and may be an Issue Cost if there are no allocations.
Weighted Average Cost (WAV)
The average cost calculated on receipts by taking the existing quantity in the inventory, that is, unissued stock, multiplied by the existing weighted average cost from the item record. The incoming quantity is then multiplied by its actual unit cost. These two values are totalled. The existing quantity balance is then taken plus the incoming quantity. The total value is then divided by the total quantity.
That is:
[ (QTY1 x COST1) + (QTY2 x COST2) ] / QTY1 + QTY2
Where :
QTY1 = existing quantity currently in inventory, that is, unissued stock
COST1 = existing Weighted Average Cost from the item record
QTY2 = incoming quantity
COST2 = incoming actual unit cost
Note: In order to avoid negative average cost problems, if the inventory quantity used to calculate WAV is negative, WAV is set to the same value as Latest Actual Cost which is set as normal.
If movement costs are updated online or via a batch process.
Note: Only one Inventory Costing Setup can be defined per Business Unit.
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Movement Presets are used to predefine some or all of the entries in a Movement Type. They are intended to speed up the entry of a movement transaction, particularly where the data entered is frequently repeated. It also allows you to automate data entry, and so improve accuracy. They are set up using Movement Order Presets Setup ( MOPS). Once they have been defined, they can be assigned to a Movement Type using Movement Types Setup (MTS). |
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