The Inventory Management application controls stock movement and provides information necessary for the purchasing and selling functions. Stock levels are adjusted automatically on a real-time basis through the interaction with the Sales Order and Purchase Order applications. 

When an order is entered through the Sales Order application, the goods are classified as committed. When the order is verified as complete, the goods are removed from the committed category and deducted from the on-hand category.  Goods placed on order with your vendors are added to the on-order category. 

As goods are received they are deducted from the on-order category and added to the on-hand balance.  The updating of these statuses occurs as the transactions happen thus assuring you of an up-to-date picture of stock status at any time.

Through the inquiry capability you are able to not only see these stock statuses, but also to window into the detail files which gives you the detail of the individual statuses.

There are multiple seven level price tables available for each stock item.  These price levels may be used for quantity break pricing, price code pricing, or both.  On the cost side, the system always maintains average cost on a moving average basis and the choice of FIFO or LIFO.

This is an inventory management system as opposed to inventory control.  Managing inventory encompasses several activities; identifying those items that do not move well, reducing stock in the slow moving/dead items, monitoring stock movement, and re-ordering on a timely basis to avoid stock-outs.  All of this is done within the framework of maintaining a high level of customer service.  The system includes automatic recalculation of re-order point, automatic recalculation of lead times, smoothing formulas, provision for line points on all items, and five replenishment methods.

The reports produced by the system are designed to aid management in determining stocking levels, quantities and timing of purchases and analyzing sales.  Other reports reflect the value of stock on hand, measure the movement of stock through the warehouse, and reflect the on-order position of items by item or vendor.· Update stock in all warehouses from a single warehouse