Solution-IV Inventory Control is designed to help you manage inventory of stocked items for sale and keep inventory costs as low as possible. Your inventory transactions for both stocked, non-stocked, and "kit" type items are tracked, and future usage trends are projected.

Your inventory movement, sales, and profitability information are organized into reports that show which items are moving, dead stock, items in surplus, critical items, items needing reordering, and more. This on-line information about your inventory can help reduce on-hand quantities and inventory carrying costs while maintaining a high level of service.

Features

Parameterized

The Inventory system parameters allow you to customize the Inventory Control package to your particular needs without having to make program changes. The parameters include such things as whether or not to post to General Ledger, how many prior Periods should be used for usage projections, and whether or not you have multiple warehouses.

Item Part Numbers

You may use up to 22 characters for your "item code" or part number. The item code may be divided in up to four segments. Each segment may be either formatted or left unformatted as entered by the operator.

Multiple Product Lines

Each inventory item may be assigned to an Inventory product line for the purpose of classification and posting to General Ledger. The Sales, Cost of Sales, Returns, Inventory, and Purchases GL accounts are all assignable by product line and may be overridden on an item-by-item basis. Additionally, you may choose to post to General Ledger by warehouse for each product line.

Price Breaks

Price Break levels may be defined by customer, item or by combination of item and customer.

Price Break Levels

For each customer/item price break combination, there are ten price break levels. A customer may be assigned to always use a given level, or the level may be based on quantity or dollar volume.

Multiple Warehouses

If desired, you may stock inventory in as many warehouses as required by your business. If using Solution-IV Order Processing, you may select the warehouse from which to ship, if desired. One order may have goods shipping from multiple warehouses.

Item Inquiry

Item inquiry allows quick access to an item's critical statistics such as quantity on-hand in each warehouse, name of the vendor from whom you normally purchase the item, and the list price information.

Kits

An item may be designated as a "kit" or component list type item which is an item made up of a group of other items. On-hand quantities may be tracked for the components or the kit itself.

Item Internal Comments

An unlimited number of internal comments may be entered for any item. The internal comments are displayed for the Order Processing data entry operator to view when the item is ordered. The comments might be used as a reminder to order additional products which are sold with the item ordered.

Customer Comments

Customer comments also may be entered and will appear on the order itself. These comments may be modified on a line-by-line basis in Order Entry and might be used for additional information about the item.

Issues and Returns

Inventory issues and returns may be recorded to issue items from stock, if you are not using Solution-IV Order Processing.

Receipts

Receipts processing is used to record receipts of items which are received into inventory. Receipts may be entered by vendor to track the purchase cost history of your inventory by vendor.

Transfers

Inventory transfers may be used to record items being transferred from one warehouse to another.

Physical Counts

Physical counts may be performed on a selected cycle basis by item, product line, or vendor. Optionally, physical counts may be done by warehouse bin number.

Price Changes

Item prices may be changed by product line, vendor, or item. The effective date of the change also may be entered.

Multiple Costing Methods

You may choose from unit cost, weighted average, LIFO, FIFO, Lot or Serialized costing methods on an item-by-item basis.

Unit of Measure Conversion

Purchase, sales, and valuation units of measure may be maintained for each item. Unit of measure conversions are defined on a system-wide basis but may be overridden by item.

Multiple Price Lists

You may define up to five different sales units of measure for each item and assign a different list price for each.

Sales History

Sales, cost of sales, gross profit, and quantities sold are tracked by item.

Multiple Vendors per Item

You may define multiple suppliers, along with their prices, for each item. Purchase history is kept for each vendor. This information is also used by the Solution-IV Purchase Order system.

Alternate Items

An unlimited number of alternate items may be defined for each item. These may be selected in Solution-IV Order Processing when out of stock on your primary item.

Inventory Committed On-Line

When integrated with Solution-IV Order Processing, inventory quantities are committed immediately as orders are entered.

Special Promotions

Special promotions may be defined which allow additional discounts and special pricing on items during a given promotional period.

Contract Pricing

When integrated with Solution-IV Order Processing, customer contracts may be defined by customer, item, or customer and item combination. This allows special pricing for a specific contract quantify or a specific item.

Multiple Pricing Methods

Within a price break, contract or special promotion, pricing may be done using the list price, or cost plus an amount or percentage.

Reports

Transaction Register

The Transaction Register is an audit report which details the adjustments, issues, receipts, returns, and transfers in the current batch.

Item Masterfile Listing

This is a listing of the item information as found in Item Maintenance. You may choose from a variety of sort and print options from the bare minimum of information (item code and description) to the entire item masterfile.

Item Label Printing

This function is used to print labels using information from the item masterfile.

Physical Count Worksheets

This option prints the counting sheets using the items selected during Physical Count Selection. The worksheets may be printed in either item code or bin number order.

Variance Report and Update

The Variance Report shows the computerized quantity on-hand as well as the quantity from the physical count and the variance in both quantity and dollar amounts. Verified physical counts may also be performed.

Inventory Price List

This report shows each item and the various sales units of measure and their associated prices. Price levels and costs optionally may be printed.

Inventory Vendor Listings

This report shows the primary and alternate suppliers for each item. The vendor's price breaks may be shown on the report as well.

Inventory Requirements Report

This report shows quantities on-hand, committed in Order Processing, and an open purchase order. This report may be very useful for making purchasing decisions.

Inventory Status Report

This report shows the quantities on-hand, committed, available, on purchase order, reorder point, and estimated usage along with the dates of last order, issue, receipt, and return for each item.

Inventory Turnover Report

This report shows the usage patterns and turnover for each inventory item.

Inventory Shortage Report

This report shows items that have less on-hand than the minimums defined in the item masterfile.

Inventory Overstock Report

This report shows items that have more on-hand than the maximums defined in the item masterfile.

Inventory Reorder Report

This report shows all items below the reorder point. It shows the current quantity on-hand, committed, on-order, and average usages.

Inventory Valuation Report

This report shows the book (valuation) value of the inventory by item. This report is very useful for insurance companies, banks, or auditors trying to determine the value of your inventory.

Discontinued Item Report

This report shows all items in your inventory that you have marked as being discontinued.

Kit/Component Report

This report shows all items in inventory that are really kits and the components that make up the kit.

Alternate Item Report

This report shows all items with alternate items and the valid alternate items. You may choose to print the comment about the alternate item, if desired.

Inventory Sales Analysis

This report prints a 12 month inventory sales summary, by item, showing sales, cost of sales, units sold, gross profit, and the profit percentage. It provides a simple picture of how much of each item you are selling.

Component Sales Analysis

This report shows an inventory sales summary, using the components of a kit as opposed to the kit itself.

ABC Analysis Report

This report shows your items ranked by the ABC percentages as defined in your Inventory System Parameters. ABC rankings may be recalculated at any time.

Transaction Detail Report

This report shows all of the inventory transactions that have occurred during the dates selected.

Inventory Recall Report

This report begins by asking which item is to be recalled, then asks for specific lot/serial numbers. The report then shows who purchased the specific items, when, and for how much.

EOQ Reorder Point Report

This report shows what your economic order quantity (EOQ) and reorder points are for each item in each warehouse. This may help you reduce the relevant costs of purchasing and holding inventory by helping you decide how much inventory you should buy at a time and when you should buy it.

Solution-IV Applications

Other modules in the Solution-IV Library consists of the following:

• Accounts Payable
• Accounts Receivable
• Bank Reconciliation
• Fixed Assets
• General Ledger*
• Order Processing*
• Payroll
• Purchase Order*
• Prospect Management

* Integrated with Inventory Control