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The Inventory Module is responsible for all activities related to managing inventory. The key features are
Average, Standard, LIFO or FIFO inventory valuations are supported. Item numbers are fifteen spaces wide and alphanumeric. The length of item numbers may be readily changed. Save time when entering new inventory items by copying the settings from another item. New items added to inventory can optionally be established for one or for all locations.
Set quantities for items to a precision of three (3) decimal places. Mark items as any mix of purchased, manufactured, component, sellable, stocking, drop shipped, and taxable.
Assign unique stocking units of measure for each item. Serial numbers, lot numbers and traits are supported. Traits are user defined. Each item can have up to three unique traits which allows a matrix such as style/size/color.
The actual cost of a lot can be recorded upon receipt and at the time of issue that cost will be used. A lot can be assigned an expiration date. Items that have passed that date can be marked as “expired” and cannot be used or marked as “degraded” which will make them still available but with a warning before they are issued. Lots may be assigned an inspection status of Uninspected, Passed, or Failed. Lots that fail may not be shipped.
Associate two images in BMP, GIF, JPG or ICO formats to each item. Matching memo fields for each image are available for long descriptions. Multiple warehouses are supported by location as follows:
Assign items a list of suppliers and locations that are supported as follows:
Drill down on inventory allocations and on order quantities to see a listing of the documents making up the numbers.
Assign Item Types to allow items to be categorized by function, such as SHIP for shipping or FIN for finance charges.
A Price Group field allows items to be assigned special pricing rules, such as belonging to a group that is on sale this week.
A GL Item Group permits each item to have a set of predefined GL accounts that are used when processing the item.
Track issues, shipments, receipts, and adjustments on the Activity tab. Drill down to see related documents.
Handle mass shipping of sales orders, transfer orders and purchase returns in any combination. The mass shipping function permits orders to be shipped completely or partially.
Filter the list of orders to be shipped for a specific location, a customer, and even a specific customer location.
Add shipping charges as orders are shipped. Orders can be shipped and not invoiced or shipped and invoiced. Mass receive purchase orders, transfer orders and sales returns.
The mass receiving function permits orders to be received completely or partially. Select line items and quantities to receive when receiving partial orders. Filter the list of orders to be received for a receiving location and a supplier. Orders and returns can be received and not released to payables or received and released to payables.
Mass record drop shipments reported by suppliers on one screen designed to handle complete or partial shipments. Transfer orders will:
Inventory adjustments can
Make inventory adjustments for single items or for mass changes. Print inventory sheets to assist physical counts. Produce “As Of” inventory reports for any date or range of items.
Distribute the GL effects of an inventory adjustment over a range of accounts. Review inventory movement on the Log of Activity screen with drill down to the source documents.
View anticipated inventory movement on the Future Activity screen with drill down to the documents that will generate the activity.
The As of Inventory Balance report can
"Inventory" is part of the ALERE Accounting line of products, developed by TIW Technology.
ALERE Accounting is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.