LIFO, FIFO, Standard Cost, Average Cost, Weighted Average, FISH
Purchasing Units vs. Selling Units
Normal Vendor:
Name, ID, Vendor Part Number, Converts Item Number to Vendor Number, Last
Purchase Date, Last Unit Cost.....
Backup Vendors
Default Revenue Account
Default Cost of Goods Sold Account
Sales Tax Rate
Pricing Conventions:
Single Price Only, Multiple Price Levels, Percentage of Cost, Percentage of
Sales Price, List Price, Blanket Discount, Dollar Volume Discount, Item Volume
Discount, Product Line Discounts
Reorder Conventions:
Manual, Automatic, Minimum Stock Level, Maximum Stock Level, Normal Reorder
Quantity, Average Usage, Period Usage, Average Lead Time, Calculates EOQ
Shelf Life Calculation
Supports Multiple Warehouses
Allows Transfers Between Warehouses
Tracks Inventory While it is Being
Transferred
Inputs
P.O. Application
Order Entry Application
Automatic Cost Distribution to General Ledger
Price Change Conventions:
Automatic as Costs Change, User Defined, Automatic Across
the Board, Item Only, Product Line, User Defined
Calculates Inventory Available Based on Orders
Split Case and Other Fractional Selling
Supports Bar Code Readers(and Prints Bar Code Labels)
Adjust Inventory:
Discontinued Items
Scrap
Missing Inventory
Receiving Activities (both Input and Output)
Prints or Displays Anticipated Receiving Schedule
Input Material Receipts
Receives Material Without Matching Invoice
Separate Stock Return Function
Receives Material Subject to Inspection
Shipping Activities (both Input and Output)
Prints Shipping Schedule
Prints Orders Not Shipped
Specifies Serial Number Items to be Shipped
Prints Items to be Shipped on Long Term
Contract
Calculates Shipping Weight
Prints Shipping Documents:
Inventory Pick Lists, Packing Lists, Shipping Labels, Bill of Lading, UPS
Labels
Outputs
Inventory status reports (by loc.) = on hand + on order (from P.O.) committed (from O.E.)
Suggests Stocking Levels
Recommends Transfers Between Locations
Automatic Ordering
Prints Count Sheets and Inventory Tags
Freezes Inventory While Taking a Physical Count
Physical Inventory Reconciliation Routine
Inventory Activity Report:
By Item Number, By Vendor, By Product Class
Receiving Report
Shipping Report
Late Shipment Report
Identify Problem Sales Orders and Invoices
Tracks Sales by Salesperson
Tracks Profits by Salesperson
Provides Sales Projections
Rank Inventory by Volume or Profitability
Inventory Analysis:
Turnover
Percentage Profitability
Dollar Profitability
Item
Product Line
Profit Exception Report
Replenishment Orders Required
Stock out Only
Excessive Inventory
User Defined
Inventory Price List
Key variables
# of digits in part numbers
# of items
# of locations
# of sources per item