consumable supplies This is a topic that many people are looking for. star-trek-voyager.net is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, star-trek-voyager.net would like to introduce to you Consumable Inventory Control Module (v14.5). Following along are instructions in the video below:
“Inventory control. Module is used to control a consumable inventory. Such as office supplies cleaning cleaning and maintenance supplies raw materials for production and so on with perpetual inventory levels your fingertips you can eliminate stock outs. Reduce inventory carrying costs and simplify.
The reordering process. The inventory control. Module is not used to manage a fixed inventory. Like computers furniture equipment and or vehicles.
For that you should be using the asset management module instead when you receive items and when you take items out of stock. The inventory levels and spend map will be updated automatically since spend map knows how much stock you have at any point. In time. You won t have to do a physical inventory.
Count. Whenever you need to make a decision. That s based on an items current inventory levels like deciding what needs to be reordered. Or when you need to know the dollar value of what s in stock in addition with better inventory.
Visibility and the ability to quickly and easily generate orders to replenish stock. You can reduce the amount of inventory that you maintain as a buffer thereby reducing carrying costs we ll talk more about stock replenishment in a couple minutes finally. While there are those that would argue for maintaining no inventory at all many spend map customers have come to realize that the cost benefits of buying in bulk far outweigh any inventory. Carrying costs especially.
In a low interest rate environment. When money s cheap in addition to volume discounts and lower shipping costs when buying in bulk you can also spread the per order..
Administrative costs across a larger quantity of items for example. The administrative costs of processing an order from initial requisition all the way through to final invoice. Approval can be as much as 100 per order and a manual environment and around 30 per order in an automated environment. Obviously if someone only needs a box of paperclips.
It s far less expensive to get them off the shelf than it is to create a new order for this type of low value item. Okay first things first you need to tell spend map. Which items you plan to keep in stock. So in the inventory folder of the item master file you can indicate which items you keep in stock using this checkbox.
If you don t check this box the in stock balance of the item will remain at zero. And the item won t show on any inventory related reports you can then fill in these fields like your min. Max levels. Whether the items kept in multiple inventory locations or warehouses and so on when inventory items received your in stock balance would typically be increased by the quantity.
Received. I say typically because it is possible that you purchased an item to give directly to an end user rather than purchasing the item to replenish stock in which case inventory levels will not be updated. When the items received. We call this a direct charge.
So if you specify a stock cost center or account code. When receiving stock levels will be increased. But if you use an on stock or end. User cost center stock levels will not be updated.
When inventory. Usages are processed..
The item stock levels will be reduced. And the value of the item will be charged to the cost centers history and budget. Remember the term cost center is user definable and spent map and can be renamed to track charges. Just about anything.
Most commonly a department or project. So just like the physical item remains in stock. Until the usage is processed the value of the item will also be kept in stock temporarily until the items given to the end user. At which point.
They ll be charged for the item aside from depleting stock levels in charging a cost center. The inventory usage will also update. The items history and will also show on the usage. Log and many other reports in the system.
I m going to enter a usage manually. But there are many other areas and spend map that will post inventory usages for you automatically like when you fill requisitions from stock you can get to the usage work area using this toolbar button or this menu choice. If you only need to enter one or two usages you can also use the quick usage option rather than the work area. If you re going to be entering a high volume of usages.
You can also scan your items to reduce data. Entry and speed up the process otherwise just fill in the screen starting with the item code. So i ll take some of these brochures out of stock for a trade show that the marketing departments hosting. So that s it as you can see down here.
We have 400 of these brochures in stock and after this usage is processed. They ll only be 300 left..
So let s take a look at the items history card and here s the use of transaction that we just posted and if we look at the history of the marketing department. You can see that they were charged 27 for these supplies as your stock gets depleted eventually you need to replenish your inventory. Rather than dealing with one item at a time. Most spend map customers make stock replenishment part of their weekly or bi weekly routine to get some economies of scale for order processing.
And maybe save on some shipping costs and remember. Since spend map maintains a perpetual inventory. You won t have to do a physical inventory count to figure out which items you need to reorder so there are two ways to create orders to replenish your stock. If you like you can just run the inventory.
Reorder or forecast. Reports and then use the information on the reports to enter purchase orders requisitions or other documents in your work areas manually better yet you can use the item requirement staging batch to automatically create purchase orders or other documents for items that have fallen below their minimum stock reorder levels for complete details take a look at the online help ok as we ve said span map will automatically update its perpetual inventory levels as transactions are processed nevertheless there s gonna be times that you ll need to manually adjust your stock levels as well the two most common reasons would be when first implementing the system. Since you have to tell spend map what you re starting inventory. Is and also most companies will do a physical inventory count at least once or twice a year to account for things like inventory.
Shrinkage or theft. So take a quick look at the inventory. Adjustments. Menu group.
If you only need to adjust stock for one or a few items like if something was broken for example you can use this option. But if you re going to be counting your entire inventory you can use the inventory count work area as with inventory. Usages. You can scan your items.
If you re using the optional. Barcode module or you can manually add the items and count information into the batch to clarify you should be entering the actual quantity of you have in stock here not the quantity by which you want to adjust your stock span map will compare what you enter here to the systems record and will post..
Whatever adjusting entry is needed to bring your stock to the level that you enter here. Once you process the batch. The end result will look something like this in addition and keeping track of who used what and simplifying. The reorder process.
Another popular benefit of the inventory. Control. Module is the improved visibility that span map. Provides by way of its many reports one of the most popular reports is the inventory valuation report.
Remember since pen map knows what you have in stock at any moment in time you don t necessarily have to do a physical inventory count each and every time you want to report on the value of your stock finally with respect to the valuation method that spend map uses to calculate the value of your stock. You can specify that in the inventory. Options area. So those are the basics of how you can manage a consumable inventory.
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