Inventory Management

The Inventory Management module will allow you to effectively track count, value and analyze your inventory. Inventory valuation can be performed in three ways: standard costs, Actual costs (FIFO or LIFO), or average cost. Analysis of your inventory is done by analyzing: stock status, min/max inventory for period, inactive inventory, inventory ranking, and by performing sales analyses. The module also gives you the ability to perform many types of inventory transactions. Pre-defined transactions such as receipts, POs, sales, adjustments, issues, and transfers give a greater level of automation to your inventory, increasing efficiency. You can also configure different types of transactions yourself; and you are given complete control of the effect of transactions on inventory or the general ledger.

Inventory tracking can be performed on two separate levels: the inventory level or the lot/serial level. Lot/serial tracking allows you to track by vendor or internal lot, and trace lot controlled items such as POs, manufacturing orders or sales orders. You can also identify customers by the vendor lot or internal lot shipped to them, and track lot expiration dates. Tracking on the inventory level allows you to setup an unlimited number of locations and assign inventory items to each location. Location information such as priority and physical dimensions is stored. Finally you are given flexible options when grouping products, allowing you to group by class type, group or inventory type.