Limitations for Inventory Aging Report

Release Date: 08/15/2018

The "Inventory Aging Report" is a very valuable tool.  It is primarily used to determine the aging of the inventory for all locations as of today.  But you could use it for a specific location, or try to use it to determine the inventory on a certain date in the past.  However, because we derive inventory aging reports based on the inventory transaction audit trail, there may be certain limitations and the result may not be as expected all the time.  The following are known limitations of inventory aging reports that you should be aware.

Inventory Aging Report for a Single Location

Inventory aging reports determine inventory based on the date when the inventory was received.  This would be receiving from your PO or sometimes the IM module.  For a company that has multiple locations, the inventory is usually received at one location and transferred to another location.  So when you run inventory aging for all locations, the inventory age is determined based on the receiving date regardless of which location.  But when you run inventory aging for a single location, the inventory in that location may have come from a transfer.  If we use the transfer-in day to determine aging, obviously the aging info is distorted.  But there will be no choice since you may not receive inventory in that location. See the following KB article that discusses why inventory aging for a single location will be different than multiple locations:

In some situations,  the inventory for a location may come from a COP credit memo (i.e., service location).  When you  run the inventory aging report for that location, it will not show correct information.  Here is a support question from one user:
I ran the inventory aging report for our customer service warehouse to see how long certain items have been in there and received strange results. Maybe I just don't understand the value of this report. Take the following item 15045...
According to the report, it has been in there over 999 days if I am reading this correctly.
When I look at the stock status on it, I get this...
Shouldn't the report reflect that this item has been in on 6/27/2018 which is less than 60 days? I'm not sure how it works.

The reason for this confusion is because this is a special condition. In an aging report, we try to determine when the inventory is received to determine the age of the inventory. We look at the inventory received from PO, not the inventory returned from COP for credit purposes. This is a reasonable assumption if you look at the following trx:
                90 days ago, you received qty 1 for item A
                5 days ago, you sold this qty 1 for item A
                1 day ago, you entered a credit memo and received the item A back
Now you run an aging for this item. Should it show 90 days or 1 day? The answer is obviously 90 days. To do this, we have to ignore the receiving from the COP side due to the credit memo adjustment.

In this case, the service warehouse would be receiving through a credit memo. But we have no way to know that we should not ignore the credit memo like the scenario above. So we ignore the credit memo. Now, since we don’t see any PO receiving for this item at this location, we just assume the inventory aging is the longest, which is 999 days.

Again, the aging report tries to figure out the data the best it can. Generally speaking, the inventory aging report does not work well for a single location because often the receiving information is missing with a single location perspective.

Inventory Aging Report for A Previous Date

Since the inventory aging report can show the inventory quantity balance of a certain date, some users use it as a stock status report for a past date.  They may use this to reconcile with the GL inventory balance.  But users have to realize there is a certain limitation with this approach:
  1. In order to show the inventory balance of a past date, the inventory aging report must derive its data from the Inventory Transaction Audit Trail table.  The inventory balance is based on the data we have in the Inventory Transaction Audit Trail.  It is not always 100% accurate.  For example, inventory transaction audit trail records could be purged.
  2. Unlike the inventory aging report for the current date, the process to figure out the inventory balance of a past date needs to go through the Inventory Transaction Audit Trail table.  This can significantly slow down the report.
If you wish to get stock status valuation for a past date, the best way to do it is to use "Stock Status Snapshot."

Here is a support question from one of our users on this subject:
Once again the Inventory Aging Report is resulting in some crazy results. Including items at locations that haven't excited for over a decade. Is there any other way to get an inventory by location for a previous date. I think I could take the IMINVTRX file, filter out all transaction after the date in question and for each item_no and location take the last record recorded and use the New_Qty_OH and New_Avg_Cost.

Here is our response to this question:
1. Inventory Aging Report 
The Inventory Aging Report was originally designed for aging current or frozen dates of inventory at “All” location environments.
After that, users requested to expand the features to allow entering a specific date and single location. That would benefit the accounting department and allow them to get period or year end Inventory value.
It is a challenge to determine the QTY-ON-HAND and COST on a particular date and calculate aging as well. In most situations, IMINVTRX does not record “Date” sequence. Users might enter the transaction back to previous date or previous month.
We would like to make any necessary improvements if you can provide the example to us.

2. Stock Status Snapshot 
Elliott provides a Stock Status Snapshot feature, in which the user may print stock status report + Snapshot (daily or monthly) from deferred processing. You may print the report back to any Snapshot database.
Please see link as http://support.elliott.com/knowledgebase/articles/835167-feature-inventory-snapshot 

EMK

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
  162. Feature - Show Turn Over Ratio (TOR) in Stock Status Inquiry
  163. Feature - Added Browse Through Items When in the Stock Status Inquiry
  164. Why Isn't Planning Lead Time Based on Work Days?

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