Inventory Management System Details

Select a topic below for more details:

Product Master
  • Flexible format for product ID number can vary from item to item
  • Distributor management software with extensive cross-referencing makes for easy product lookup
  • Multiple synonym part numbers can be defined for each item (such as by unit-of-measure); ordering can be done using vendor / manufacturer / competitor part numbers
  • Products organized by Groups, Categories and Sub-Categories
  • Product images available
  • From product master record:
    • display the last 100 or more customers who purchased an item

    • display the last sale information for an item, including price
    • display the last sale information for an item by customer, including price
    • display sales history by day, week, month or year, for an unlimited number of years
    • show purchase order history
    • view inventory availability in multiple warehouses
    • a list of substitutes can be defined for each item
    • alternate vendors can be established for each item with alternate cost for each vendor
    • system will suggest order point and order quantities based on item lead time, demand history and desired stocking levels
  • Reorder quantities Can be calculated using Economic Order Quantity (EOQ), or Dynamic Order Point (DOP)
  • Inventory stocking and safety stock levels can be defined at the warehouse level
  • Cost and price for items can vary by warehouse
  • Each item can carry multiple prices such as List price, Quantity discounts, Customer Type pricing,
  • Columnar pricing, and Advertised pricing by customer type (column price) with expiration date
  • Commission rates can be established at the product level
  • Discounts can be assigned to customers using price lists to easily adjust pricing for groups of like customers
  • Multiple units of measure are fully supported:
    • establish up to ten or more units of measure for each item (each, dozen, case, pallet, etc.)
    • each unit-of-measure can be priced individually; price does not have to be a multiple of the base unit of measure
    • items can be purchased in one unit of measure, received in another, picked in another, and sold in another
  • Selling with Kits is fully supported:
    • sell items you stock as individual items and as a kit, an assembly of those items
    • kits can be configured on-the-fly from a template kit while in the sales order
    • change items in kit during order entry while the kit template product remains unchanged
  • Purchase orders can be placed for kits (to take advantage of vendor discounts) which can be disassembled into the component parts
  • Items can be tracked by serial number
  • Items can be designated as Rental items
  • Items can be designated as Special Order items
  • Inventory items can be Lot Traceable
  • Products can be configured as available for e-Commerce (e-Wholesale, e-Retail and e-Catalog) or not
  • e-Commerce products can be designated as New, Special or Featured Products
  • e-Retail and e-Catalog products can have SEO meta-tags defined

Purchasing
  • Extensive vendor cross-referencing lookup. Search using self-defined keywords, product categories, any word in the product description, and more to find the right part
  • Ability to specify a product in purchase order entry by the vendor’s part number and automatically convert this to your part number
  • Ability to purchase, receive, cost, price and sell the same item in different units of measure with the same part number
  • Economic Order Quantity (EOQ) system produces Recommended Purchase Report with option to create purchase orders based on sales history or budget
  • Return on investment (ROI) analysis during purchase order entry helps determine optimal order quantity based on quantity break pricing
  • Sort purchase order line items by part number, part category, or description
  • Extensive reporting capabilities for things like: overdue items by vendor, open purchase orders by vendor, expected receipts by date, etc.
  • Distributor management software give ability to cancel un-received items on open purchase orders
  • Permission-based ability to over-receive items, partially receive items, enter landed cost, add additional lines
  • Option to send and receive purchase orders via Electronic Data Interchange (EDI)
  • Display status of special order items by vendor and retrieve them into a PO
  • Line Point Buying capability by dollars, weight, cube or quantity
  • Vendor discounts by weights and cubes
  • Specialized integrated processing of special order items with drop-ship from vendor to customer fully supported
  • Sophisticated lot number traceability
  • Request For Quotation features in distributor management software:
    • send list of parts to competing vendors
    • enter parts list manually or import from an order, quote, purchase order, or invoice
    • predefine list of vendors to receive RFQ based on parts
    • restrict requests for certain parts from being sent to certain vendors
    • system highlights best pricing from vendor
    • system creates PO based on your selected vendor
    • stores quoted prices in vendor record for future reference

EOQ - Economic Order Quantity - Automated Purchasing System
  • Create recommended purchasing report and/or automatically generate purchase orders with EOQ analysis
  • Analyze history by warehouse and purchase by warehouse or centrally with/without automatic warehouse transfers
  • Create product use-rates based on historical sales information including “stock out” periods, “seasonal variations”, and “extraordinary” sales events
  • User-specified days of desired inventory for a product
  • User-specified safety margin of stock
  • Line point predictions available for an entire product line with a structured review cycle
  • All software calculations can be overridden
  • Order quantity can be set:
    • manually specifying an order quantity
    • manually specifying an ‘order up to’ quantity
    • automatically based on desired inventory level, use rate, and safety stock (DOQ)
    • automatically based on the cost to carry inventory (warehousing cost), cost to purchase a line item (overhead associated with purchasing), and actual cost to determine an economic order quantity (EOQ)
      by averaging the DOQ and EOQ methods
  • Predefined purchasing cycles supported
  • Review report of overstocks
  • Optionally automatically generate Purchase Orders based on Recommended Replenishment Report
  • Use seasonal weighting to prevent overstocks during off season
  • Out of stock conditions can be reviewed manually
  • Worksheets help you calculate the ‘cost to order’ a purchase order line item and the cost to carry stock (cost to warehouse)
  • Vendor EOQ aids in line point purchasing (consolidating purchase of several parts from the same vendor on a single PO) to minimize costs and maximize vendor discounts

Vendor EOQ (Line Point Purchasing Analysis)
  • Vendor EOQ complements the EOQ system by including vendor requirements/restrictions when creating recommended-purchase reports
  • Vendor EOQ aids line-point purchasing (consolidating purchases of several parts from the same vendor on a single PO) to minimize costs and maximize vendor discounts
  • Scheduled periodic review of all parts purchased from a vendor
  • Solve headaches associated with meeting a vendor’s purchasing restrictions or incentives by defining a line point minimum order quantity, dollar amount, weight, or cubes
  • Line Point by weight and by cubes
  • Line Point order point adjustment suggests items to purchase to reach line point
  • Use adjustment suggestions to reach line points that are within a specified close range
  • Define your own number of lead days for vendor

EDI - Electronic Data Interchange
  • Electronically transmit and convert documents between trading partners
  • Automate images/invoicing and sending/receiving electronic mail using EDI
  • Electronically send and receive purchase orders (without reentering purchasing choices)
  • Send the following forms through EDI:
    • receipts of purchase orders (form 850)
    • purchase order changes (form 860)

      purchase order acknowledgments (form 997)

      invoices sent to a vendor (form 810) and more

  • Confirm acceptance or rejection of each PO
  • Report confirmed POs before transmission
  • Create EDI invoices automatically for EDI flagged customers when invoices are printed
  • Choose to send Acknowledgments of POs (form 997)
  • Optionally print an invoice for your files (with a message not to send the invoice)
  • Benefit from more than 20 years of experience with EDI

Inventory Management
  • Track inventory for one or multiple warehouses
  • Software tracks finished inventory and raw materials
  • Group sets of items as kits with your inventory management system
  • Inventory ledger card shows all inventory changes
    • use one central screen to see the detail behind every transaction changing on-hand inventory
    • keep history as long as you wish
  • Fully supports multiple units of measure allowing the same item to be purchased, received, costed, priced and sold in different units of measure with the same part number
    • software also supports catch weight for items sold by unit but priced by actual weight, length etc.
  • Inventory count sheets and cycle count by: location description (or warehouse mapping number), vendor, product category, product group, product subcategory, entering count on the fly with hand-held scanners
  • Ability to create orders after counting and before processing count sheets
  • Exception reports show receipts processed before counting but not entered until after counting finished
  • Discrepancy report generated prior to making an inventory adjustment
  • Inventory can be automatically adjusted from the discrepancy report
  • Optional use of bar codes and PDAs in inventory process
  • Multiple cost files allow inventory valuation as of any date by replacement cost, accounting cost, average cost, or special cost

Warehouse Transfers
  • Allows support of multiple warehouses including:
    • all inventory reports available for specified warehouses
    • ability to check inventory status and availability for each warehouse while entering quote, order, purchase order, etc.
    • selling prices for items can vary by warehouse
    • define safety stock levels by warehouse
    • define inventory stocking levels by warehouse
  • Ability to move a list of products from one warehouse to another, or a list of products to defectivestatus within a single warehouse
  • Warehouse transfer sheets created prior to transfer; prints an inter-warehouse pick list showing quantity to transfer, quantity expected to be on-hand, unit of measure, etc.
  • Use warehouse transfer to track a group of items stage by stage through the shipping process or manufacturing cycle
  • Can vary costs by warehouse location to more accurately reflect value-added labor

Bar Coding
  • Synonym part number feature converts UPC or vendor bar code to your item number:
    • Use your manufacturer’s bar code or other external part number and the system will automatically reference your part number in your inventory management system
    • Link a particular bar code number with a specific unit of measure (each, cases, package, etc.)
  • Use vendor, manufacturer, or your own bar codes to:
    • enter part numbers by scanning bar codes
    • make bin labels
    • enter multiple items in order entry and quickly change quantity and price
    • create relationship between vendor barcode number and your product number on-the-fly while scanning codes
  • Print bar codes on laser printers, dot matrix printers, and select brands of thermal bar code label printers
  • Bar codes are printed using industry standard symbologies
  • Bar code readers can read multiple bar code formats
  • Automatically print bar code labels:
    • when you receive a product
    • when you enter a new PO
    • at the end of day for new products or receipts
  • Different bar codes allow for different pack sizes of the same product
  • Bar coding supported in order entry, purchase order entry, inventory counting, receiving, and more. For example, print bar codes on pick lists and scan to confirm shipment

Wireless Hand-Held
  • Use wireless hand-held devices to receive POs, pick, pack and ship orders and count inventory
  • Supports standard bar code scanners integrated with hand-held wireless devices
  • Print bar codes on your POs and scan part numbers from PO or from vendor bar code labels
  • Create relationship between vendor barcode number and your product number “on-the-fly” (while scanning codes)
  • Includes location information when appropriate (for put-aways and count-sheets)

Bills of Materials
  • Bill of materials supports simple assembly or light manufacturing:
    • formulate subassemblies into finished goods
    • assign differing valuations for work in process
    • software supports batch creation of unfinished items while assembling
    • designated Protected Stock is protected from order entry allocation during assembly
  • Supports reverse bill of materials for distributors who cut standard size items and need to track / inventory / sell smaller pieces
  • Include items in the assembly unique to a particular finished goods unit of measure; (e.g., specify different labels and box/bottle sizes for finished goods with differing units of measure)
  • Unlimited levels of bill of material items; a BOM may be a component of another BOM.
  • Cost files are changed as required during the end of day process
  • software supports automatic optional cost rollup so cost of bill of materials reflects most recent cost of products
  • Automatically generate POs for special order items contained on a bill of materials

Kits

  • Full support for kitting; which allows sale of stock items individually and/or as kits
  • Inventory can be kept by items in a kit or by the kit (as one unit)
  • Pricing can be assigned by kit or as total price of items in kit plus optional kit discount
  • Costs can be kept by kit or by items in kit
  • Cost increases for any item included in a kit, can automatically increase the kit price
  • During Order Entry:
    • Kits can be configured, on-the-fly from a template kit
    • Change items in a kit or add items to the kit for a particular customer without changing the kit template
    • Detailed kit line items can be displayed (even when only a single line prints on order)
    • Edit price/quantity, etc. of detail lines
  • Place purchase orders for kits for better vendor prices. If desired, receive vendor kits and store as component parts

Catch Weight

  • Catch weighting allows you to sell an item of variable weight or length by units other than weight or length, e.g.:
    • sell a box of goods priced by pound where each box may have a different weight
    • sell a spool of wire priced by foot where each spool may have a different length
    • rent an item and charge for fractional days / weeks / months when charging the customer
  • Ability to extend sales order by the actual weight of item
  • Items sold by unit, but cost by weight are automatically priced by weight
  • Weight consolidated per invoice line item if desired
  • In the ship-confirmation of your inventory management system:
    • accept the weight(s) entered in order entry
    • enter the actual weights for each item
    • enter a single consolidated weight for the items
  • Supports decimal quantities

Serial Numbering

  • Assign a serial number to any product
  • Serial number access from Purchasing Master, Product Master, Customer Master, Vendor Master or the Sales Representative Master files
  • Serial Master displays the relevant details about a specific serial number
  • See history of all associated documents, transaction dates, and locations, and status on the Serial Master
  • Enhancements allow for warranty tracking and service repair
  • Easily assign serial numbers to bill of materials items

Lot Traceability

  • System permits two levels of lot control:
    • lot field on a PO line number as a memo field
    • lot control tracks a product from receipt to sale
  • Products can be assigned an internal lot number as they are received which can be user-assigned or system-generated
  • Supports use of manufacturers’ lot numbers as products are received
  • Flexible set up of user-specified information is easy to change
  • Orders can be split at ship confirmation or at the sales counter into multiple lines if one shipment can contain multiple lot numbers
  • The system tracks lot number information from every aspect by: purchase, order, lot number, invoice, customer
  • Store lot number information indefinitely
  • Detail records can be purged while lot information is preserved