You will find that the Inventory module is a powerful report-type module that provides a global view of a company's stock holding. A record is displayed for each Inventory Item. eg. If an Item is kept in five locations, five records will be visible for that Item - one for each Location.

Discover Inventory

• Inventory Data Grid
• Average Costing

Inventory Data Grid

Navigation

Main Menu > Materials > Inventory

Main Menu > Reports > Inventory

1. Default View

1. Data Filter - This allows you to filter records by Date, Customer, Category, Location and the Status of Items.
2. Detail - Includes the Description of the Item, Code, Location and Unit of Measure. Additional fields can be added by using the Field Chooser.
3. Current - This field displays the current Stock levels.
4. Start - This field displays the Stock levels and Values as at the Start date (Set in the Data Filter).
5. End - This field displays the Stock levels and Values as at the End date (Set in the Data Filter).
6. Variance (End - Start) - This field displays the Variance in Qty and Value between End and Start date.
7. Filter Row - This allows you to filter each column by a specific criteria. To make the Filter Row visible simply click on the Menu button and toggle Show Filter Row.

2. Price Update View

The Price Update View provides the functionality and actions to update Inventory Cost and Pricing.

1. Set Stock Price = Last PO Price - This will set the Stock Price to the latest Purchase Order Price.
2. Set Stock Price = Cost Price - This will set the Stock Price to be the same as Cost Price.
3. Set Stock Price = Sell Price - This will set the Stock Price to be the same as Sell Price.
4. Set Stock Price = Supplier Price - This will set the Stock Price to be the same as Supplier Price.

Multiple Inventory Items can be selected as shown in the data grid above.

3. Stock Check View

The Stock Check View includes the detail of the latest Stock Check before the End Date and linked to the Item as well as the discrepancy Gain / Loss on the Stock Check.

4. Transactions View

The Transactions View shows all the Transactions that updated the Inventory.

For Stock Checks, the User field displays the user who last updated the Stock Check.

5. Replenishment View

The Replenishment View displays records that are Inventory Items where the Available Qty is less than the Min Qty (If the Min Qty is blank, it is assumed that it is 0). The Replenishment View also includes all Materials that are On Order.

1. Item - The Item band displays the general details of the Items.
   • A Sub-Category column can be added from the Field Chooser.
2. Inventory - The Inventory band displays the Available Qty differently to other Inventory reports - In this view, the Available Qty also takes into account what is on Order. All negative values will be displayed red.
3. Source - The Source band displays the linked Supplier with the lowest Base Unit price.
   • The Resolve column indicates whether the Item is Produced or Purchased. For Items that are Produce, the first linked Estimate is added to the Source band. For Items that are Purchase, the lowest Supplier Price is added to the Source band
   • The Last Order column displays the last Pending or Active Purchase Order / Work Order that was created for the Item.
4. By right-clicking on an Item in the data grid will provide the following additional functionality:
   • Open the Last Order - This will open the Last Purchase Order or Work Order.
   • Open linked Material Item - This will open the linked Material Item.
   • View Material Summary - This will open the Material Summary in the side-panel.
5. Actions - You are able to perform an Action. By clicking on the Actions button, the following functionality becomes available:
   • Create Purchase Order - This will create a Purchase Order from the selected Items. If Items linked to multiple Suppliers are selected, the User will receive a Warning and if they confirm, the Purchase Order will be made to the Supplier on the first Item. The Qty will be the higher of the Inventory Re-Order Qty (Blank = 0) or the Supplier Min Qty. The quantity will also be rounded up to the Supplier’s Unit (eg. They may sell in Packs of 250) or to a whole number.
   • Create Work Order - This will create a Work Order from Items that are Produced and not Purchased. If multiple Items are selected, a Work Order will be created for each selected Item. The Source band displays the linked Estimate for Items that are produced.

Average Costing

The weighted average cost method uses the average cost of all the stock on hand. The unit cost is updated to the new average cost every time new stock is received at a different price.

For this to work automatically, Inventory must be Received at the actual cost and Issued at the Weighted Average Cost.

Inventory Receive Transactions updates the Stock Price. Receive Transactions can be created in the following modules:

• Materials Movement - Can be unlinked or linked to Work Orders and Purchase Orders.
• Materials & Inventory - Receive Transactions can be created manually in the Transactions tab.

When a Receive Transaction is created, the Inventory Unit Price is updated and the price change is recorded in the Price History table which can be viewed in Materials & Inventory.

When a Receive Transactions is updated by changing the Qty, Unit or Unit Price, the Inventory Cost Price will be adjusted using the Old Unit Price in the Price History table.

If other Receive / Issue transactions have been made, changes to a Receive Transaction will no longer update the Inventory Price.