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Materials management: Inventory Manager

  

The optimal management of inventory represents a fundamental issue for any manufacturer and is a critical success factor in the struggle with production costs.

 

It is equally important for companies in the large-scale distribution sector to reduce their stockholding costs and optimize their physical availability at distribution centers - in line with delivery and client service requirements.

 

Inventory Manager is a complete system for managing inventory both from a logistical and an accounting point of view. This module can manage both physical and logical inventories, covering both the company's own sites and third-party locations rather than inventories held on behalf of clients.

Processing can take into account specific product characteristics, such as perishability and obsolescence (as is the case with foodstuffs and medicines), and plan logistics.

Closing stock can be valued using the most common methodologies and the generation of accounting documentation is also complete.

Any adjustments required as a result of physical inventories are generated automatically by the system.

This module covers all fiscal and administrative requirements regarding company inventories, stock at subcontractors and at depots, and their physical locations (aisles, shelves, etc.), as well as their status (available, waiting to be tested, etc.) at the various locations.

An unlimited number of warehouses can be handled once memorized in the specific location file.

It is also possible to manage logical inventories in order to create further subdivisions within the physical warehouses.

All inventory movements are driven by reason codes established by the user, therefore providing maximum management flexibility.

Items can be managed on several levels (batch, size, color, grade, etc.) via their inventory code, thereby optimizing the related procedures.

Stock levels can be checked in real time in order to optimize financial management, and availability can be analyzed with a view to optimizing the management of re-ordering.

This module also includes a radio frequency application in order to manage physical locations more effectively and in real time.

Calculation of requirements

This module keeps inventory levels under control and ensures regular replenishment with reference to minimum stock levels and commitments by proposing a purchase order or making a processing/ production request.

Transfers between inventories 

This module ensures that transfers between warehouses are handled correctly, and generates all the required documentation for shipments and the proper handling of all the related accounting entries. This includes the removal of original inventory from the point of departure and transfer to the goods-in-transit inventory, which, in turn, is removed when the materials are booked into their destination inventory.

Fiscal aspects

Inventory Manager fulfills all fiscal requirements, including:

Physical inventory procedure.

Valuation of closing inventories using various criteria such as l.i.f.o., f.i.f.o., average annual price, historical average price, latest purchase price, list price (standard cost, etc.).

Cumulative fiscal reports showing the following for each article: opening inventory, amounts booked in and booked out, closing inventory and the related fiscal valuations.

Printout of the articles' stocksheets.

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