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Inventory
Management Overview
Inventory maintains detailed records of purchases, sales,
adjustment and physical inventory transactions. With the
interaction of Sales Order and Purchase Order entry, 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 allows you to manage your
inventory on-hand levels. Suggested reordering can be based
on simple min/max or, through the Usage Based Procurement
granule, on EOQ or Item Class. |
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Unit of Measure functionality
provides the ability to sell, order and track in 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 allows the user to reserve
specific items for a sales order. The items may be reserved
from inventory stock, from purchase orders, or from
inventory requisitions.
Multiple Locations
NewVision will handle an unlimited number of inventory
locations. Each location can have its own zone and bin setup
with policies for those zones and bins unique to that
location. Sales can be made on a single order from any of
the locations. Replenishment items can be purchased for
specific locations or a central warehouse can be the
replenishment path for other warehouses.
Transfers between warehouses are accommodated by the
Transfer Order function which sets up both the Transfer From
and Transfer To transactions from a single screen.
Completing the transaction becomes a simple matter of going
into the transactions and indicating them as shipped and/or
received as it occurs. |
Inventory Items by Location (Enlarge) |
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Vendor Listing for an Item (Enlarge) |
Unlimited Vendors
The NewVision System will support an unlimited number of
vendors per item. For each vendor listed the system will
identify the vendor’s item number, lead time, minimum order
quantity and minimum order dollar amount. This vendor record
may also be used as a catalog allowing you to record
information on other potential vendors for the item.
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Item Charges
This functionality allows you to include the value of
additional cost components to the unit cost of an item. Such
cost components can be freight, duty, insurance, or other
costs related to the item.
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 form 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.
Item Tracking
Item Tracking allows you to assign, control and track serial
and/or lot numbers. Items can be tracked from receipt to
end-user and serial number and lot number availability is
accessible throughout the system. The purchase or sale of
multiple lot numbers on a single line item is handled
seamlessly by the system. |
Lot Tracking Record (Enlarge) |
Cross Docking
This feature 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 remote locations in the
warehouse while picking inventory to ship.
Features
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Multi-warehouse capability
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Multiple
Units of Measure
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Unlimited
number of vendors per item
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Kitting
through Bill of Materials
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Extended Text
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Order
Promising
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Item Tracking
(Lot and Serial)
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Item Comments
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Block an item
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Make an item
inactive
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Cross
References
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Substitutions
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Non-Stock
items
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Maintains
detailed records of sales, purchases, and adjustments
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Inventory
values based on FIFO, LIFO, Average, Specific, or
Standard Cost
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Item Picture
or Specifications
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5 decimal
precision
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Item
availability by period
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