Inventory Control



System Objectives

The pursuit of business profits is the highest guiding principle. Inventory is the God of sales, also the graveyard of enterprises. Good inventory management will bring enormous vitality to the company. Inventory control refers to the corresponding management activities to stock plan and circulating tangible items according to the needs of production, procurement and sales, such as the receive, distribute, storage of items. 

As for the basic of inventory management, in addition to record changes in conveying information, the most important thing is to provide immediate analysis of the various statements related inquiries for inventory management staffs understand the situation, in order to make the appropriate procurement or inventory disposal decisions. However, inventory management is a tedious and prone to error work. Computerizing inventory management can take advantage of the rapid and large storage capacity of computer, to replace the manual to complete the various operations, in order to improve the speed and accuracy.

System Functions

Support multiple factories, for calculating material requirement by factory in the MRP module.
Support Multiple warehouses while each of them have their own nature. When a message like "count as available balance", allow stock-out when stock inadequate" shown in MRP module, users can define the warehouse as cost warehouse or non-cost warehouse, whether to include month end cost calculation. The system can integrate the settings of every raw-materials warehouse, defected item warehouse, scrapped items warehouse, miscellaneous tools warehouse, borrow-in warehouse, customer supply materials warehouse, etc., to satisfy the need of company which has different control methods towards different warehouse.
Leading to effective and easy management of warehouse staff. Warehouses are logically divided into zones and bins. Each zone and bin has its information separately maintained. Entry of zone and bin numbers in warehouse activities can be deferred until they obtain the information. Or, zones and bins can be defined to deny outgoing transaction, of the quantity is insufficient.
Products basic information maintenance is divided into different pages. They are basic information, inventory information, engineering information, purchase/manufacturing information, packing information, cost information, photo information and product remarks. Users can also set the hyperlinks to documents like Word, Excel, CorelDraw, etc. The approval status of materials is also recorded so that users can know whether they can use the materials.
Products can be classified into different brands, origins, multi-categories, multi-groups and packing weight. The nature can be classified by purchase items, in-source items, sub-contract items, transfer items, option items, accessory items, phantom items, kit items, service items, labels, etc., for easy control of manufacturing , purchase, sales of materials, and calculation in MRP module.
One product can have several bar codes for the use of new and old products, in-source and vendor bar codes. The RFID technology will shorten the transaction time of transactions.
Provides quality type and inspection method like inspection free, sampling inspection and inspect all, "Inspection Day" and "Safety Lead Time".
Provides products control of effective date and expiry date to avoid misuse of products.
Provides lot control, can trace the information of specific materials for easy reference of its future transactions. It also allows control of the effective date of materials. Materials (e.g. food, chemicals, drugs) are always being used within their effective period.
Define the re-order policy according to ROP demand, materials actual demand, lot demand, MRP, ORP, LFL, POQ, FOQ, ROP, to allow flexible inventory control and maintain a reasonable Inventory Stock Level.
Can define the safety stock, ROP qty., EOQ and standard stok qty. of each product in each warehouse. The system helps the users to control the stock level and will alert the user for re-ordering. This is different from that of being done by manpower because the system can help to transfer the information of materials which need re-ordering to the purchase module.
Plexible in defining the "minimum order quantity", "order multiple" and "material issue multiples", according to the purchase and manufacturing method, for managing the purchase and picking of materials.
For materials in and out movement, either issuing or picking of materials, the system provides lot issue, back-flush issue, independent issue, users can set the issuing method which is most suitable for the control of material issue.
Allow to set whether accept over-receive and over-shipment of items, and to set control of vendor supply material and sales delivery.
Can set the standard price, different prices for different price record of purchased items. The references like effective date, expiry date and upper limit for purchase price are included.
Can set the standard price, different prices for different customers, price quantity break, price with and without tax and the lastest selling price record of sales items. References like effective date, expiry date, lower limit for selling price are included.
Allows setting prefix codes for invoices,. Users can have their own settings according to their preferences. They can also set the access right of other users of the prefix codes to avoid miuse od documents. Users can set 5-level approval and voiding. It can be divided into two approval method - parallel approval and approve by level to suit the need to different approval reuqirements of documents. System can aito send out e-mail or SMS to the correspnding users for approval after each function processed.
In the document number of inventory control, there are 6 transaction types can be set. They are stock-in, stock-out, sale, picking, transfer and adjustment. Users can set the document control type according to the control needed for easy management of miscellaneous in and out, physical count adjustment, reporting scrap of warehouses or manufacturing procedures, expenses or department pickng statistics, temporary storage, borrow out/in, borrow/lend return, borrow out for sales and borrow in for purchase, etc.
Inside/outside factory allow transfer between warehouses - the materials being transfered and the account information will suit the demand of actual control of materials.
Provides complete stock-take operations with lot number in cycle count, regular count, non-regular count and RFID. Users can print physical count sheet according to multiple zones and bins in each warehouse. The system can generate stock-take adjustment note according to the physical count quantity form the stock-take result, This helps to check the difference between warehouse account and actual stock amount and the performance of staff in managing the warehouse.
Can check the real-time transaction and stock balance of each item, stock enquiry of each warehouse, stock availability, transacton history, stock balance by lot number, transaction by lot number. Users managine the manufacturing process and material issue to get the most up-to-date stock balance. This relies on the information to manage the material flow.