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Inventory & Purchase Order Management |
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Inventory and Purchase Order Management keeps track of items on hand, on order and in transit. It updates item costs and records activities, such as the last receipt date and the last stock take date for each item. With Inventory and Purchase Order Management, you can review the status of each item and identify any exceptional conditions, helping you decide what, how many and how often to purchase.
Inventory and Purchase Order Management provides comprehensive costing and shipment-tracking functions, stock take facilities, and track the service levels provided by your suppliers. Inventory & Purchase Order Management covers major aspects of inventory management:
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Stock level and demand monitoring |
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Stock ordering |
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Shipment tracking, receipting, and costing |
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Stock receipting |
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Stock management in the warehouse |
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Valuation |
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Stocktaking |
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Multiple currency processing |
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The major features of Inventory and Purchase Order Management include:
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Multiple warehouses
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The Inventory & Purchase Order Management module allows you to maintain independent records for each of your warehouses. You can see, at a glance, the stock on hand in any single warehouse, or get a report on your company's total inventory |
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Stock Inquiries
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Details about any item can be called up on any screen at any time. You can see what stock is on hand, or look at purchase orders and shipments, and see what is due in shortly. This helps order entry and purchasing staff, and provides a higher level of service to the customer.
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Monitor Demand
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As orders are received, customer demand information is compiled and tracked on a period-to-date and year-to-date basis
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Set re-ordering strategies
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Because demand information has been compiled, you can fine-tune stock levels to reduce stock-outs while minimising storage costs. Re-order points can be set at a minimum quantity or minimum weeks cover
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Purchase Order
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If you choose, purchase orders can be produced automatically. These orders can then be reviewed and amended. Alternatively, you can manually raise purchase orders
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Electronic transmission of purchase orders
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If you have the IMAS Utilities module installed, you can transmit a purchase order to your supplier electronically, reducing lead times which can lower the stock you need on hand, and improve responsiveness to your customer's needs
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Tracking purchase orders and shipments to receipts
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For any purchase order on the system, you can keep track of the date and quantity of expected receipts, how much has been received, and how much is about to come in. If the purchase order involves a shipment, flight and shipment details can be maintained and monitored, so that customers can be kept informed of the status of their goods
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Multiple currencies
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Purchase orders and stock receipts can be processed in foreign currencies, with detailed exposure reporting on possible gains and losses
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Multiple receipts as single or consolidated shipments
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Multiple receipts can be handled as a single receipt transaction, saving unnecessary paperwork. Importation charges can be automatically apportioned and a landed cost calculated
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Perform inventory costing
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Stock valuation can be based on average, last, FIFO or standard costs. Costs can be updated automatically or maintained manually |
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Record internal inventory movements
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The movement of stock within a warehouse, or from one warehouse to another can be tracked by stock relocation transactions or other adjustments
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Stocktakes
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Several stocktaking tools are provided by the system, from printing the count worksheets to generating the necessary inventory adjustment transactions
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Inventory reporting
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Reports can be produced detailing exactly the nature and value of the goods you have in stock
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Shipment costing
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You can apportion shipment charges to items in a shipment. You can apportion charges by different methods, such as weight, volume, value or quantity.
Shipment charges can be passed from the Accounts Payable module or entered directly into Inventory & Purchase Order Management.
The shipment costing function also includes shipment tracking. You can track items in a shipment, and you can relate the shipments to your purchase orders |
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The Integration of the Inventory & Purchase Order Management Module
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In a fully integrated IMAS system, the Inventory & Purchase Order Management module exchanges information with other IMAS modules, so the system always reflects the true state of your business. Here is how Inventory & Purchase Order Management works with the other IMAS modules : |
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Stock receipts can be recorded through Inventory & Purchase Order Management or Accounts Payable |
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Shipment charges can be entered through Inventory & Purchase Order Management or Accounts Payable for apportioning to the items in the shipments |
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Stock quantities are updated as customer orders are entered in Order Entry & Invoicing |
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Summary information about day-do-day activities is sent to the General Ledger (e.g. revaluation, cost variances, and inventory movements) |
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