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Terms Inventory


Inventory Management

Manage item master data, serial numbers, and price lists, as well as define alternative items, perform inventory increase or decrease adjustments, execute cycle counts, and generate pick lists for open sales orders. TERMS Inventory Control Features following inventory control functionality:

Item master data – Define production items (make), purchase items (buy), and non-inventory items (labor and travel, for example) while maintaining default information such as purchasing supplier, purchasing and selling unit of measure, and tax status for each item. You can maintain inventoried items in multiple warehouses with differing associated costs depending on location. TERMS supports a number of inventory valuation methods, including standard cost, weighted moving average, and FIFO methods. You can define a procurement method (such as make or buy) as well as order intervals in which to purchase an item (monthly, weekly, or daily, for instance). You can also define the lot sizes in which to purchase items, the minimum order quantity, and the average lead time. You can then use this information in conjunction with the MRP functionality

Goods receipt and goods issue – Record goods receipts and issues that are not directly related to a sales or purchasing document.

Inventory transfer – Move inventory among warehouses.

Inventory posting – Enter opening balances for inventory items and update warehouse data.

Cycle inventory counting – Streamline inventory counting by identifying when each item in inventory is due to be counted. The alerts and reports produced help ensure that items of different levels of importance are counted as frequently as required.

Price list – Define a variety of price lists and link them to customers or suppliers. Quickly and easily create dynamic links between price lists, which are updated automatically whenever the primary price list changes.