The Inventory module is extremely important. It is where you can update quantities after performing cycle counts. You can move, add, delete, and manipulate inventory in many other ways in this module, and you can also check inventory locations and tracking data.
There’s a lot to talk about in the Inventory module, so let’s jump right into it.
You’ll find a Cycle Count button in the toolbar of the Inventory module. Once you click it, you’ll see a new window appear, inviting you to pick a part from a specific location. Then you can check its quantity and modify it if that number doesn’t match the actual number of parts you have in stock. You can add a note about your change and make a few other additions before clicking the Finish button to automatically update the quantity in your records.
There’s a helpful search tool on the top left hand side of the module. You can search by part number, description, and/or location to narrow down the results. By default, you’ll find every active part in your inventory in the window just below the search button.
Check Inventory Status
Select a part from the list and then click the View button below to get all sorts of information about a product’s status, including the number of parts:
On Hand – The total number of parts currently in stock.
Allocated – The number of parts already assigned to sales orders, purchase orders, transfer orders, or work orders.
Not Available – This quantity reflects the parts that are not ready or able to be sold.
Drop Ship – How many parts are in the process of being drop shipped to customers from a third party.
Available For Sale – This number is derived by subtracting the number of allocated and not available parts from the on hand and drop shipped ones.
On Order – When a part is listed on a purchase order, sales order, work order, or transfer order, it will be reflected here.
Committed – These parts are already picked for an order, but they have not yet been shipped or used in a work order. Committed parts are always allocated, but the reverse is not always true.
Back Ordered – The number of parts that need to be reordered to bring their quantity back to the desired total.
Available To Pick – This number is derived by subtracting the number of committed parts from the total on hand.
Move Inventory and Edit Tracking Details
Moving inventory from one place another within your warehouse(s) in the Inventory module is quite simple. Just select a part and click the Move button on the bottom right of the module. Then put the appropriate number, destination, and tracking data and click the OK button.
You can also edit the tracking details of a part by clicking the Tracking button, which is right on top of the Move button. You will not be able to change the tracking information of parts that are already committed. But any others should be able to be changed whenever you like.
Add and Scrap Inventory
Adding inventory is similar to cycle counting it. Start by clicking the green plus sign at the top of the module. Choose a part and the location you want to add it to, and click next. You’ll be asked to enter the quantity, unit cost, and tracking details. Whatever quantity you enter will be added to any preexisting quantity that is already in that location. Once you’re done, click the Finish button.
You can also scrap inventory in this module. It’s in the bottom right hand side after you’ve selected a part. A new window will pop up and you just have to enter the quantity you want to scrap and any notes you want to write about it.
Next week we’ll show you how to keep an eye on your inventory in the Monitor module.