NewVision Inventory Control and Management

NewVision Inventory maintains detailed records of purchases, sales, and adjustment transactions. With the interaction of Sales Order and Purchase Order, it becomes a complete inventory management system with availability controls that let you schedule each sales and purchase transaction so that inventory arrives when you need it and not before.

Basic inventory also allows you to manage your inventory on-hand levels. Suggested reordering can be based on min/max quantities, and also supports reordering in specific increments. Unit of measure functionality provides the ability to track different units of measure for each inventory item. For example, items can be purchased in containers, stored in pieces, and sold in boxes. Item Reservations functionality allows the user to reserve specific items for a sales order. Items may be reserved from inventory stock, from purchase orders, or from inventory requisitions. Item variants bring an added dimension to the inventory system. This functionality allows an item to be defined in different ways, such as color, shape, or size.

Inventory Benefits

• Maintains detailed records of purchases, sales and adjustments
• Inventory values based on LIFO, FIFO, Average, Specific, or Standard Cost
• Multi-warehouse capability
• Multiple units of measure
• Unlimited number of Vendors per item
• Kitting through Bill of Materials

Bill of Materials

You can use the Bill of Material feature as a simple “kitting“ feature for sales and purchase orders, or you can use it to produce finished goods from raw materials through a production journal. Bill of Materials can be defined to any level, and NewVision includes features that allow on-line navigation through the Bill of Materials or through the Where-Used windows. Single-level explosions are provided on reports for net requirements analysis and availability planning.

Basic Shipping & Receiving is the base for warehouse management. It provides basic functionality to assist warehouse personnel in the processes of picking inventory for order fulfillment, shipping of the order, and in recording the receipt of inventory.

Usage-based Procurement offers functionality to assist the distributor in making decisions about when to purchase inventory and how much inventory to purchase and carry at a time. It does provide for inventory replenishment through economic order quantity or item class. Based on the Gordon Graham business model, this feature can help to drastically improve your profitability by reducing, if not eliminating, excessive inventory.

As part of the picking feature, a report is provided which helps warehouse personnel identify opportunities to “cross dock” items. With cross docking, it is possible to pick inventory that is in the receiving area of the warehouse before it has been put away. This can prevent unnecessary trips to distant locations in the warehouse while picking inventory for shipment.

Location Transfers

Location Transfers provides a means to effectively track inventory as it is being moved from one warehouse location to another. It helps to improve your ability to account for inventory while it is in-transit and to account for its cost.