IM0000 Inventory Management Package Overview 2

Changing Inventory Cost Methods

If you wish to change the method by which you value your inventory you must use one the following procedures depending on what method you are using now and which method you want to change to.  

 Use the following procedure if you want to change from average, last or standard cost to either average, last, standard or LIFO/FIFO cost:

1.    Make a backup of all I/M data files.

2.    If you are using batch processing in I/M, post all transactions.

3.    Make a backup of all COP and P/O data files if you are using either of the packages.

4.   If you are using COP or P/O, post all orders in COP and fully receive and post purchase orders in P/O.

5.    Change the inventory costing method using I/M Setup.

6.   If you are changing to LIFO or FIFO costing, you must create initial LIFO/FIFO layers using the Initialize LIFO/FIFO File application from the I/M Processing window.

Use the following procedure if you want to change from LIFO to FIFO; LIFO to average, last or standard; FIFO to LIFO; FIFO to average, last or standard:

1.    Make a backup of all I/M data files.

 2.    If you are using batch processing in I/M, post all transactions.

 3.    Make a backup of all COP and P/O data files if you are using either of the packages.

 4.   If you are using COP or P/O, post all orders in COP and fully receive and post purchase orders in P/O.

 5.    Print a stock status report for  all items including all LIFO/FIFO layer detail.

 6.    Print I/M Setup using your PC's "Print Screen" keystrokes.

 7.    Using I/M File Initialization the following files must be initialized:

               ‑ I/M Control File     

               ‑ LIFO/FIFO Layer File

 8.    Re‑enter I/M Setup.  

       If you are changing from LIFO to FIFO or from FIFO to LIFO then continue with steps 9, 10, and 11.

9.   All layer information must be re‑entered from the stock status report using Inventory Transaction Processing and then posted.  The layers on the report will be in the reverse order in which they need to be after the costing method is changed.

10.  After all layer records have been re‑entered, you must adjust the Item File to match the Layer File using Adjust Item File To LIFO/FIFO application from the I/M Processing window.

11. Print a stock status report for all items including all LIFO/FIFO layer detail to make sure all layers were entered correctly.

 

Serialized Items

Serial numbers may be tracked for selected items both as they are stocked and/or issued.  The quantity on hand for each serial number stocked must be one.  A length of warranty in days may be defined for each serial item.  The system will automatically calculate a warranty expiration date when the serial number is issued or sold.

Serial issue history information is maintained by the system.  The Serial/Lot Stock Status Report and Serial/Lot Issue History Report application may be used to print both stock and issue history.

Serial numbers are supported by the Inventory Management, Customer Order Processing, Purchase Order and Receiving, Bill Of Material Processor, and Shop Floor Control packages.  The user has the flexibility of tracking serial numbers stocked and issued or only assigning serial numbers when the item is sold.  The exception to this is Shop Floor Control.  A serial number must exist for a serialized item before a quantity can be issued. 

LIFO/FIFO costing is not supported when using Serial/Lot items.

A further explanation on implementation of serialized inventory is contained under Inventory Transaction Processing and Serial/Lot Processing.

 

Lot Number Items

Inventory may be received or produced as individual lots.  Each lot maintains quantity on hand, quantity allocated and expiration date by month and year.  Selected items may be tracked by lot.  For these items, a lot must exist before a quantity can be issued.

Lot issue history information is maintained by the system.  The Serial/Lot Stock Status Report and Serial/Lot Issue History Report may be used to print both stock and issue history.

Lots are supported by the Inventory Management, Customer Order Processing, Purchase Order and Receiving and Shop Floor Control packages.  Unlimited lots may be maintained for each item with both integer and decimal quantity fields.  Negative quantity lots are not allowed.  

LIFO/FIFO costing is not supported when using Serial/Lot items.

A further explanation on implementation of Lot Tracking is contained under Inventory Transaction Processing and Serial/Lot Processing.

 

Reports

There are various reports, which can be printed on request that give valuable information for setting up and maintaining the Inventory Item File.

 

Interfacing

The Inventory Item File is referenced and/or updated by nearly all of the Manufacturing Packages as well as the Customer Order Processing, Purchase Order and Receiving, and Bill Of Material packages produced by Elliott, Incorporated.

 

I/M Menu Bar Selections And Definitions

 There are many Inventory Management functions, which can be performed by this I/M package.                                     

Maintenance

 Item File  

 Allows you to define all the items in your Inventory File.

 Location Control File

 Allows you to keep track of inventory which is stocked at more than one location, including the quantity of the item on‑hand, allocated, and on‑order at each location.

I/M Account File  

 Allows you to designate which G/L File Maintenance accounts may be used with the I/M package.

Location File

Allows you to maintain a table of inventory locations.

Product Category File

Allows you to maintain a file of valid inventory item product categories.

Material Cost Type File

Allows you to maintain a file of valid inventory item material cost type codes.

Material Cost Type/Loc File      

Allows you to maintain a file of valid inventory item material cost type within particular location accounts.  

Buyer/Analyst Code File

Allows you to maintain a file of valid inventory item buyer/analyst codes.

Kit File

Allows you to design and maintain kit structures.

Job Code File

Allows you to create and maintain job codes for tracking costs associated with specific jobs. 

User Defined Code File

 Vessel File

 Bin Master File

 Substitute Item Class File

 I/M Serial/Lot History File

 Bin Inventory File

 Hold Transactions File

 Inquiry

Item File Inquiry

Allows you to view on the screen the inventory item file without being able to change the information.  You may also view the notes associated with each inventory item.

Stock Status Inquiry

By single location or all locations combined you can quickly and easily find the quantity of any inventory item, which is on‑hand, allocated, or on‑order. 

Available To Promise Inquiry

Serial/Lot Stock Status Inquiry

Allows you to inquire on available serial/lot items in stock or that have been issued or sold from inventory.  If serial or lot items are being used in I/M Setup, then you will be able to utilize this application. 

Kit File Inquiry

Allows you to view kit items and their components.

Processing 

Inventory Transaction Processing

Allows you to record all inventory transactions that have occurred.  This includes receivings, transfers, issues, and adjustments of inventory.  You may select to perform inventory transactions on-line or using batch entry. 

Physical Count Processing

 Allows you to physically count inventory items periodically to ensure figures being used in the package are accurate.

 Post Inventory Transactions

 Allows you to update asset and other G/L accounts affected by inventory transactions and adjust inventory levels.  Posting is required for transactions entered using the batch entry option of Inventory Transaction Processing.

 Post Physical Count Tags

 Allows you to update item on-hand quantities and G/L accounts affected by those changes.  Accounts are only updated if I/M Setup flag #25 is set to Y.

 Recalculate Reorder Fields

 Allows you to recalculate vendor level, amounts of safety stock, and what the recommended minimum order amount should be for the item, based on the actual usage for the period.

 Clear Item Accumulators

 Allows you to clear inventory item file accumulators.  Accumulators may be cleared period‑to‑date or year‑to‑date.

 Print Cycle Count Worksheet

 Produces a worksheet for tighter cycle counted inventory based on user defined cycle count codes in the Item File.

 Initialize LIFO/FIFO File

 Allows you to initialize your LIFO/FIFO layer file.  If LIFO or FIFO inventory valuation method is being used in I/M Setup, then you will be able to utilize this application.

 Adjust Item File To LIFO/FIFO

 Allows you to balance your inventory item file to the layers in the LIFO/FIFO layer file. If LIFO or FIFO inventory valuation method is being used in I/M Setup, then you will be able to utilize this application.

 Serial/Lot Processing

 Allows you to change your serial/lot inventory items that you have received into inventory or sold to a customer.  If serial or lot items are being used in I/M Setup, then you will be able to utilize this application.

 Reset Allocated Quantities

 Updates the allocated quantities in the Inventory Item File from transactions in Inventory Transaction Processing, Bill Of Material, Customer Order Processing and Shop Floor Control.

 Set Trx Audit File Beginning Balances

 Allows you to set the beginning balance records for stocked items.

 Freeze Inventory

 Allows you to take a "snapshot" of inventory so that accurate period ending reports may be generated.

 Bar Code Options

 Contains a submenu of Bar Code Options related to inventory control.  These applications are further detailed in the Elliott Bar Code manual.

 Create Unreleased PO's By Vendor

 If Purchase Order And Receiving is in use, this application will create unreleased purchase orders for a range of items and vendors.

 

Inventory Management

  1. Long-Term vs. Short-Term Inventory Quantity Available and Inventory with Time Line
  2. Introduction to Available to Promise (ATP)
  3. Inventory Aging Report by Location Sequence Produces Different Result Than by Other Sequence
  4. Inventory Aging Report Shows Different Age Between Single and All Locations
  5. Multiple Users Entering Physical Count Tag at the Same Time Issue
  6. Expand Item Description 1 and 2 Character Limit
  7. How Different is an IM Kit from a BOMP Kit?
  8. Explanation on Component Availability Inquiry
  9. How Is Shortcut Item Different from Kit Item?
  10. No Privilege to View Location History
  11. How to Calculate EOQ (Economic Order Quantity)
  12. Item Quantity Allocation Is Incorrect
  13. Reorder Advice Custom CSV Export Shows Zero Items
  14. Elliott Physical Count Processing
  15. Feature - Add-On Item Drill Down From Item Search
  16. Feature - Utility to Reset Item PTD Fields from Location History
  17. Feature - Inventory Snapshot
  18. Feature - ATP Regen to Consider Order Multiple and Economic Order Qty
  19. Feature - Item Master Activity Sub-Code
  20. Feature - Add Support for the Update of “Mostly Mfg Flag” in Change Existing Item Import
  21. Feature - Auto Delete BOMP Product Structure When Item Obsolete
  22. Feature - Item Linkage Report/Processing
  23. Feature - Added the Ability to Organize Product Categories by a New Product Category Group
  24. Procedure to Correct Bad Serial Number with Special Symbol
  25. Feature - Additional SY12MONS Updates
  26. Feature - Additional Activity Codes for Item Linkage CSV Report and Item Linkage Processing
  27. Feature - Item Number Wild Card Support for Starting Item Number
  28. Feature - Obsolete Kit Parent When First Component is Obsolete
  29. Feature - Show Items with Qty Variance on Tag Variance Reports
  30. IM01S3 Inventory Management Iten Audit Trail Report
  31. IM04S2 Inventory Management Inventory Transaction Audit Report
  32. IM02S2 Inventory Management Inventory Location Audit Trail Report
  33. IM03S1 Inventory Management Usage Exception Reports
  34. IM06SCN Inventory Management Stock Status Report
  35. IM08S1 Inventory Management Print Cycle Count Worksheet
  36. IM14S1 Inventory Management Item History Report
  37. IM19S1 Inventory Management Serial/Lot Stock Status Report
  38. IM19S2 Inventory Management Serial/Lot Issue History Report
  39. IM20S1 Inventory Management I/M Distribution to G/L Report
  40. IM26SCN Inventory Management Frozen Stock Status Report
  41. IM30S1 Inventory Management Kit Where-Used Report
  42. IM31S1 Create Unreleased POs by Vendor
  43. IM32S1 Inventory Management Kit Gross Requirements Report
  44. IM0201 Inventory Management Location Control File Maintenance
  45. IM0405 Inventory Management Available To Promise Inquiry
  46. IM0500 Inventory Management Stock Status Inquiry
  47. IM0500Q Inventory Management Stock Status Inquiry
  48. IM0700 Inventory Management ABC Analysis Reports
  49. IM0900 Inventory Management Reordering Advice Reports
  50. IM1000 Inventory Management Physical Count Processing
  51. Feature - Utility to Reset Item PTD/YTD Fields from Location History
  52. IM1100 Inventory Management Utilities Setup
  53. IM1201 Inventory Management Location File Maintenance
  54. IM1300 Inventory Management Recalculate Reorder Fields
  55. IM1400 Inventory Management Clear Item Accumulators
  56. IM1501 Inventory Management Product Category File Maintenance
  57. IM1601 Inventory Management Material Cost Type File Maintenance
  58. IM1701 Inventory Management Material Cost Type/Loc File Maintenance
  59. IM1801 Inventory Management Buyer/Analyst Code File Maintenance
  60. IM1901 Inventory Management Initialize Lifo/Fifo File
  61. IM1902 Inventory Management Adjust Item File to Lifo/Fifo
  62. IM1903 Inventory Management Serial/Lot Processing/Multi-bin Utilities
  63. IM1904 Inventory Management Serial/Lot Stock Status Inquiry
  64. Feature - Add Additional Record Types to Reorder Advise User-Defined CSV Export
  65. IM2500 Inventory Management Reset Allocated Quantities
  66. IM2700 Inventory Management Set Trx Audit File Beginning Balances
  67. IM2800 Inventory Management Freeze Inventory
  68. IM2900 Inventory Management Kit File Maintenance
  69. IM3301 Inventory Management Job Code File Maintenance
  70. IM3400 Inventory Management Job Analysis Report
  71. IMACTMNT Inventory Management I/M Account File Maintenance
  72. IMAGESCN Inventory Management Inventory Aging Report
  73. IMATPGSN Inventory Management Generate ATP File
  74. IMATPRSN Inventory Management Available to Promise Report
  75. IMBININV Inventory Management Bin Inventory File Maintenance
  76. IMBINMNT Inventory Management Bin File Maintenance
  77. IMBINTRN Inventory Management Inventory Transfer Processing
  78. IMCHGBIN Inventory Management Change Bin No/Pick Seq
  79. IMEXPTSN Inventory Management Export Item for Take an Order
  80. IMFRMMNT Inventory Management Item Label Form Setup
  81. IMGENMNU Inventory Management Generate Location History
  82. IMIMSITM Inventory Management Item Import Utility
  83. IMITMUDS Inventory Management Item User-Defined Fields Import Utility
  84. IMSUBMNT Inventory Management Substitute Item Class File Maintenance
  85. IMUSRMNT Inventory Management User-Defined Code File Maintenance
  86. IMVESMNT Inventory Management Vessel File Maintenance
  87. IMVLSMNT Inventory Management I/M Serial/Lot History File Maintenance
  88. Feature - Expanded Selection Parameters for Reorder Advise User Defined CSV Export
  89. Change - Update Both Kit Parent and Components Usage
  90. Feature - Create Price Code 1 from Item Minimum Price Utility
  91. Change - Available to Promise by Item Report - Add Item Description 2
  92. Feature - Support AR (Attribute) Type in Reorder Advise User Defined CSV Export
  93. Can System Default Item User-Defined Code?
  94. Feature - Item Label Printing Enhancements
  95. Feature - Ability to Initialize Character Fields During Change Existing Item Import
  96. Understanding Status Code at Inventory Transfer Dispatch Screen
  97. Feature - Support GTIN Based on Two Different UPC Codes
  98. Feature - Update Estimated Date/Time When Printing Transfer Tickets
  99. Feature - Allow Physical Count Tag Import Without Serial Number
  100. Feature - Delete Kit Components When Item Activity Code is Set to 'O'
  101. Feature - New QTYAVAILBYCOMP Attribute Fields
  102. Feature - Allow GTIN Maintenance in I/M Change Bin No/Pick Seq Processing
  103. Feature - Improvements to Reorder Advise Reports
  104. What Is the Difference Between INV_TRX_UN_COST and INV_TRX_NEW_AVG_COST in IMINVTRX Table?
  105. Feature - Added a Function "Create Inventory Trx CSV Import"
  106. Feature - Added Support to “Create I/M Trx CSV Import” for Kit Items
  107. Feature - Improvements to QTYAVAILBYCOMP and QTYAVAILBYCOMP2 Attributes
  108. Feature - Add Desc2 Column to Item Linkage CSV Report
  109. Feature - Numeric Item List Changes
  110. Feature - Added 1C and LD Column Types to Reordering Advise User Defined CSV Export
  111. What's the Difference Between Lead Time & Planning Lead Time?
  112. Explanation of ATP LP Type - Negative Sign (-) vs (*) Symbols
  113. IM0000 Inventory Management Package Overview 7
  114. IM0000 Inventory Management Package Overview 1
  115. IM0000 Inventory Management Package Overview 2
  116. IM0000 Inventory Management Package Overview 3
  117. IM0000 Inventory Management Package Overview 4
  118. IM0000 Inventory Management Package Overview 6
  119. IM0000 Inventory Management Package Overview 5
  120. IM0000 Inventory Management Package Overview 8
  121. IM0000 Inventory Management Package Overview: Index
  122. IM0101 Inventory Management Item File Maintenance 1
  123. IM0101 Inventory Management Item File Maintenance 2
  124. IM0101 Inventory Management Item File Maintenance 3
  125. IM0101 Inventory Management Item File Maintenance 4
  126. IM0101 Inventory Management Item File Maintenance 5
  127. IM0101 Inventory Management Item File Maintenance 6
  128. IM0101 Inventory Management Item File Maintenance 7
  129. IM0101 Inventory Management Item File Maintenance 8
  130. IM0101 Inventory Management Item File Maintenance: Index
  131. IM2400 Inventory Management Inventory Transaction Processing 1
  132. IM2400 Inventory Management Inventory Transaction Processing 2
  133. IM2400 Inventory Management Inventory Transaction Processing 3
  134. IM2400 Inventory Management Inventory Transaction Processing 4
  135. IM2400 Inventory Management Inventory Transaction Processing 5
  136. IM2400 Inventory Management Inventory Transaction Processing 6
  137. IM2400 Inventory Management Inventory Transaction Processing 7
  138. IM2400 Inventory Management Inventory Transaction Processing: Index
  139. How to Run Inventory Stock Status Report for a Certain Date
  140. Feature - Transition to Obsolete
  141. Item Last Received Date Not Updated When Received from I/M Transaction Processing
  142. Feature - Zero Item Weight When Using F3 to Copy Item
  143. Feature - Initialize User-Defined Note, Date and Amount Fields When Using F3 to Copy Item
  144. What Information Is Stored in the Location History (IMLOCHST) Table?
  145. Feature - Prevent Excel from Dropping Leading Zeroes in CSV Item Number Field
  146. Feature - Add User ID to User Defined CSV Export
  147. Feature - User Defined CSV Export Item Batch Support
  148. Feature - Export Inventory TRX Audit Trail to CSV
  149. Feature - Add User-Defined Code Table Support in IM User-Defined CSV Export
  150. Feature - Added “Item 1st Received Date Range” Criteria to Item User Defined CSV Export
  151. How to Get a List of Items That Does Not Have GTIN Code Defined
  152. Feature - User Defined CSV Export Quantity Sold by Customer#, Customer Type or Customer Group
  153. Feature - Added inKit (IK) and inBOMP (IB) Column Types to the User-Defined CSV Report
  154. Feature - Added Phantom Locking to Item File Maintenance
  155. Feature - Added CSV Support to the Physical Count Posting Update Edit List and the Variance Report By Item/Warehouse
  156. Feature - Inventory Transfer Management Batches Using CSV Import
  157. Limitations for Inventory Aging Report
  158. Feature - ATP Inquiry Number of Days from Today
  159. Feature - Added Report to "Set TRX Audit File Beginning Balances"
  160. Feature - Added Product Category Selection Range to ABC Analysis Reports
  161. Feature - Added Days out of stock (DOS) column to the Location History Information, Sales Desk Info - screen.

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