Overview
This application can be configured so that reorder information is calculated. When reorder information is calculated, the economic order quantities and reorder points are adjusted. After reorder information is calculated, replenishment orders can be replenished so that stock on hand is at the appropriate levels, even during periods of fluctuation.
Inventory Control process flow
Inventory Control is comprised of these main processes:
| Process | Description |
|---|---|
| Setup | When setting up Inventory Control, consider the inventory requirements of your central reporting structure. Specifically, determine what items are required and what type of allocation control is set for those items. See the Supply Management Setup and Administration Guide. |
| Conducting physical inventory | It is essential that you conduct a physical inventory assessment before you begin normal inventory activities. |
| Inventory processing | Inventory processing is the
day-to-day movement of inventory in and out of locations. It
consists of issuing, transferring, receiving, and adjusting
inventory items. Inventory processing includes replenishing
inventory. You replenish inventory by evaluating your company's
requirements and then selecting the replenishment formula that suits
them. At the end of each period, we recommend that you do period end processing. Period end processing creates Global Ledger transactions, updates accounts, and closes the inventory period. |
| Processing cash | Processing cash is the core of the Receivables. |
| Managing cart or par locations |
Cart or par locations are used by companies that have a specific requirement for inventory that is stored at a level below the location. One location may have several cart-par locations associated with it. Most commonly, cart or par locations are used in the healthcare industry to accommodate having items readily available at many locations per department. |