Creating a stock area

  1. Select Inventory > Setup > Create Stock Area.
  2. Specify this information:
    Stock Area
    Type an identification code for the stock area.
    Area Description
    Type a description of the stock area.
    Costing Method
    Select the method that your agency will use to track part costs in this stock area.

    The costing method indicates how Infor Public Sector calculates the costs of parts issued from this stock area for inspections and work orders. Costs can be tracked in one of these ways:

    • Average: Average cost of the part in the stock location.
    • Area Average: Average cost of the part when all parts within the stock area are included.
    • Last Actual: Cost of the part from the most recent receipt transaction in the stock location.
    • Area Last Actual: Cost from the most recent receipt transaction for the part in the entire stock area.
    • First In First Out: Actual receipt cost of each individual part, starting with the oldest receipt transaction.
    • Last In First Out: Actual receipt cost of each individual part, starting with the most recent receipt transaction.
  3. Provide any other information about the stock area.
    You can assign parts to the stock area at a later time using the Stock Area InfoViewer, or you can assign parts now using either the Locations in this Stock Area grid or the Parts stocked without Locations grid.
    If the stock area is divided into separate stock locations:
    1. Select the Locations Required For Stock Area check box.
    2. If any stock location stores more than one type of part, select Multiple Parts Allowed Per Location.
    3. Click Add above the Locations in this Stock Area grid.
    4. Type the name and description of the stock location containing the part.
    5. If the location allows multiple parts, click Add above the Parts in this location grid. Specify the part's identification code, the units in which it is issued, the quantity per unit of issue, and any other information you have.
    6. Click Save.
    7. If the location allows multiple parts, click Save again when you're finished adding parts to the location.
    If the stock area doesn't use stock locations:
    1. Click Add above the Parts stocked without Locations grid.
    2. Specify the part's identification code, the units in which it is issued, the quantity per unit of issue, and any other information you have.
    3. Click Save.
    You can also use the Audit Codes grid to specify a formula that calculates when to schedule an audit for the parts in the stock area.
  4. Click Save.