Inventory Items Inventory Section

The Inventory section provides information about material currently in stock.

Stocking Information

This information is entered and updated manually.

  • Cost - represents the per unit cost for the part

  • Unit - represents how the part is stocked, used, and sold.

    • Limited to 3 alpha-numeric characters (e.g., BAR, EA, FT, LB, SHT)

    • Automatically updates to / from the Pricing Unit of Measure field (located in the General Section)

Re-Order Information

This section is used to keep safe levels of inventory on hand.

  • Level - sets the minimum quantity of the material that should be 'On Hand' at any given time.

    • The level quantity is in terms of stocking units.

    • This part will show on Reorder Summary reports and Automatic Purchase Orders, once the inventory count falls below the level.

  • Quantity - represents the quantity of the part that will be ordered when the inventory drops below the reorder level.

    • The quantity is in terms of Stocking Units.

Part Weight (lbs)

This figure represents the weight in lbs of one part (in terms of its Stocking Unit).

  • The weight is used for shipping purposes.

Default Bin Location

Represents the physical storage location for the part. One part type can be found in multiple bins.

The Bin Locations listed in the dropdown menu here must be listed in the Bins grid (below).

For more information see Inventory Adjustments.

Inventory Bin Location's Grid

Buttons are provided to Add a Row, Delete a Row, and open a QuickView Vendor screen. On this grid, a line item represents a Bin.

Editable Grid Columns Include:

  • Bin Location Column - these columns will be listed in the Default bin Location dropdown menu.

  • Lot Number Column - this field is optional.

  • Vendor Column dropdown - this field pulls from the vendor table.

  • Qty On Hand Column - quantities available for immediate use.

Inventory Information

The Inventory Information section provides reference information only.

  • Quantity On Hand - represents the amount of this inventory item available for use in stock.

  • Quantity On Reserve - amount of material already allocated to jobs, considered part of Work In Progress (WIP).

  • Quantity in Process - amount of material currently in production.

  • Last Receiver Number - the last receiver number used for this inventory item.

  • Last Receiver Date - the date of the last receiver.

  • Last Receiver Quantity - the quantity of the last receiver.

  • Average Cost - the average cost of the inventory item.

  • Total Average Cost - the total cost of the inventory item based on the average calculation.

  • FIFO Cost - the cost of the inventory item calculated through the cost of the oldest material in stock.

  • Total FIFO Cost - total cost of the inventory item based on first in first out cost.

  • LIFO Cost - the cost of the inventory item calculated through the cost of the newest material in stock.

  • Total LIFO Cost - total cost of the inventory item based on last in first out cost.

 

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