ProcessPro® Premier

Inventory Control (IC)

Inventory Control automatically tracks inventory balances, serial numbers, lots, and product line information. Plus, it prints extensive reports to analyze and control inventory. Features can be selected individually for each item. All balances are updated in real-time for up-to-the-minute, on-screen access.

Features of Inventory Control

• Supports Weighted Average and Standard Cost inventory valuation methods.
• Tracks unlimited inventory locations and two types of storage divisions within each location.
• Tracks lot numbers for ingredients and finished goods.
• The finished goods lot tracking recalls all customers who purchased a finished good lot.
• Ingredient lot tracking recalls all finished goods lot numbers that used an ingredient lot.
• Tracks serial numbers and lot items when stored, ordered, and shipped.
• Serial numbers for totes can be located at the customer sites as well as in inventory.
• Inventory for incoming ingredients or for out-going finished goods is automatically quarantined until it passes QC testing. The user decides which items require inspection.
• Define units of measure according to how inventory items are stocked, purchased, and sold.
• Create multiple price schedules for items based on markup, discount, or fixed price methods, with options for dollar amounts of percentages and up to six quantity breaks per price schedule.
• Transfer items to an in-transit location to maintain tighter inventory controls.
• Inventory items can be set up in price groups.
• Negotiated prices for particular customers are supported with price schedules assigned to specific customer and item combinations.
• ABC analysis allows the user to categorize inventory items according to their overall performance.
• Performs dollar or percentage mass cost and price changes on any group of inventory items.
• Allows multiple suppliers for the same inventory item.
• Automatically updates inventory balances with information from Order Entry, Purchase Orders, and Accounts Receivable.
• The average, standard, and last receipt cost for each item is stored at each location.
• The Physical Inventory feature allows a company to proceed with physical inventory counts without delaying accounting operations.
• Automate inventory transactions with the warehouse management solution, which utilizes bar coding technology.
• Tracks and reports on user-defined stores and bins. Tracks costs at inventory locations.
• Tracks and reports on user-defined inventory product lines.
• Item Forecasting Wizard can project the demand for an item individually and by group, and estimate a new order point and order quantity.
• Supports different settings at item level such as item type (asset, expense, inventory), taxable item, item class, miscellaneous code, commodity code, and more, which assists in inventory categorizing and reporting.
• Cycle counts ensure accurate inventory quantities by periodically checking designated high-cost and high-turnover items without interrupting receipt or shipment entry activities. Links to General Ledger by storing a unique set of default accounts for each item at each location.
• Supports data entry in multiple windows at the same time allowing simultaneous processing of receipts and transfers.
• ABC analysis allows categorization of inventory items according to their overall performance or value.
• Performs dollar or percentage mass cost and price changes to one or more groups of inventory items.
• Rule tables validate data entry for inventory item class, stock location, unit of measure, etc.
• Real-time Business Status Report provides immediate status of current balance, inventory value, period-to-date gross margin, billings, receipts, discounts, and cost of goods sold when used with Accounts Payable, Purchase Orders, Order Entry, and Accounts Receivable. • Notes file provides information on each inventory item. • Displays online sales history information for existing inventory items.
• Inventory master templates can be created so new items are set up with the same settings as existing items.
• Serial Number Audit Trail provides an audit trail for multiple receipts of the same item/serial number.
• As-of/on-hand inventory reporting provides the ability to specify a prior date and produce the report as of that date.