Inventory Control

The creation and maintenance of an inventory is a continuous process. The cycle begins with the order and receipt of a product and continues when the product is physically stored and shrinkage for the product is managed with physical counts. Eventually, the product is sold, a reorder for the product (based on prior sales history) is placed, and the cycle begins anew.

The Stores Inventory module provides for the creation and maintenance of the product life cycle. The creation of inventory, or more precisely the order and receipt of a product, is handled through Purchasing and Receiving respectively. The maintenance, or inventory control, is handled in various areas:

• Inventory control begins when the physical location of the product is defined.
• The process continues with the definition of relevant Order Quantity Information pertaining to the product and an acceptable inventory level to be held for the product.
• Inventory control continues with the need to maintain shrinkage of products in inventory. Stores Inventory provides the means to generate a count, or more precisely, a Set file of product information based on the entire warehouse or a randomly selected group of products. A complete warehouse count or a cycle count can be performed as desired. Complete warehouse counts are less frequent than a cycle count. Cycle counts are utilized to ensure the integrity of the inventory by "spot checking" items in the interim period between complete warehouse counts.
• Once the cycle count has been generated, a physical count of the selected products will be performed, and the results entered into the Count File. A list of products, where an exception exists, can be generated to verify the physical count information. Once the physical count information has been verified, the exception information is posted to the General Ledger database and the Stores Inventory database.
• Inventory Control includes an additional feature that creates a report displaying those products requiring reorder. The reorder point can be an independent calculation based on the product. Stores Inventory allows flexibility to meet the reorder needs of a diverse product line.
• Lastly, Inventory Control can display activity for a given product by month. Totals for receiving, demand, and stock out figures for the month are displayed.

The following pages aid in inventory control:

1. SIINCTIN – Create Count File.
2. SIINCTUB – Enter Quantities Counted.
3. SIINCTLS – Load Scan Data Into Count File.
4. SIINCTEX – Print Exception Report.
5. SIINCTRP – Reprint Count Files.
6. SIINCTPS – Post Exceptions to GL and SI.