All purchased item inventory originates through transactions made in the PO Receipts screen.
Inventory Cost Overview
▪Inventory value is an average cost based on receipt costs (PO Receipts and Job Receipts)
▪To improve inventory value accuracy, always verify prices when you send out your POs
▪Any time you update your default supplier prices, perform a Mass Replace by Default Supplier Price in the BOM>Estimated Purchase Cost screen, followed by a batch Cost Rollup.
Consider using a receiving location
Some items are subject to inspection, labeling, and other processing before they are ready to be transferred to storage locations. To accommodate this, you can create a receiving location and assign it as the default receipt location against such items. Designate the receiving location as Transitory so that stock in the receiving location is included in overall stock on hand, but is not available for issuing and picking. After receipt processing is completed, the Stock Transfer screen is used to transfer items to their storage locations.
Using dispatching
When you use dispatching, you receive items on the screen first, then you go to the Batch History tab to print a dispatch list that provides receipt details to assist in receiving actual stock to designated locations.
Pre-filling primary locations
You can click the Pre-Fill button to pre-fill the remaining quantity on each line against each item’s primary location, provided that the item is not subject to lot or serial control.
When you encounter an item with a ‘FIND’ location
Some items, especially those with occasional or infrequent usage, may not have location assignments, in which case we advocate creating and using a ‘FIND’ location. When you receive or transfer an item with ‘FIND’ as its primary location, it means that you should find an available location and specify it as the receipt or transfer location.
Finding an allowable location
In the Receipt Details sub-tab at the bottom of the screen, you can click the lookup in the Location field to get a list of allowable locations for the item. The Capacity field indicates the maximum number of units that can be stored in each location. When you select an allowable location, you can click the magnifying glass icon at the bottom of the screen to view stock in that location to determine if the location is available.
If the item is needed by one or more jobs
In the Receipt Details sub-tab you can click the magnifying glass icon to launch the Stock Status inquiry for the item, which lists any jobs that may be waiting for the item. In such cases you have the option of receiving stock directly to the work center location.
If the item is subject to lot control
When an item is subject to lot control, you are required to assign a lot number in the Receipt Details tab. This is a manual entry. We suggest devising a lot numbering convention that provides consistency to your lot numbers. A simple method is to use two segments where the first segment is the PO number and the second segment is the date.
If the item is subject to serial control
When an item is subject to serial control, you are required to assign or generate a set of serial numbers in the Receipt Details tab. If automatic serial numbering is designated against the item, the next available serial number is inserted by default and the remaining serial numbers are automatically generated in sequential order.
Printing receipt labels
After the receipt batch is updated, you can go to the Batch History tab to print receipt labels that can be formatted to include the lot number, serial number, and PO header details. Receipt labels can be customized using the Forms Edit utility.
