Inventory Management

Inventory Management provides the key functions necessary to update and maintain raw materials, WIP and finished goods inventory quantities and costs. When a new job is entered through the Job Management module or generated from Order Management, the material requirements create inventory allocations.These allocations are relieved as inventory items are issued to the job, or as purchase order receipts for purchased items are posted.

Issued inventory reduces inventory quantities on hand, which are continually replenished through the processing of purchased or manufactured item receipts into inventory. Receipt processing provides a continual update of inventory average and lost costs, maintained for every item. A variety of screen inquiries, including Part Tracker and printed reports, provide extensive management analysis in the areas of material requirements planning, shortage monitoring, reorder analysis, stock status, valuation and critical items.

Online Part Tracker
View parts, purchase orders, sales orders, quotes and jobs to analyze current requirements and to track pending receipts.

Flexible Costing
Average, last and standard costs may be maintained for each individual part master.

Mass Issue
Quickly issue all planned materials to a particular job, instead of entering them individually. Issue transactions generated in this program reduce inventory quantities, and post material costs to jobs in the Job Management module.

Time-Phased Material Inquiry/Report
Provides analysis within a user-defined time period on those parts where projected requirements exceed available quantities. Material and purchasing managers have a tremendous tool to prevent part shortages at critical times.

Multiple Warehouses/Bins
Track parts stored in multiple locations through warehouse status inquiry and warehouse transfer audits.

Substitute Parts
A substitute parts file is maintained for ease in browsing when primary part shortages exist.

Material Backflush
Materials may be optionally backflushed as quantities are reported complete at the job operation level.

Cross Reference
Track relationships between distinct customer part number and internal part number fields.

Part Master Price Breaks
Price breaks per inventory part/vendor, including effectivity date.

Physical Inventory
Enter physical counts, print gain/loss reports and update on-hand inventory levels.

Inventory Lot Tracking
Enter lot references for both purchased and manufactured items. The lot reference is entered when parts are received or issued for display throughout Vantage.

Serial Tracking
Assign serial numbers to manufactured or purchased parts for tracking throughout the life of the product. Serial Tracker provides an online view into the movement of the product after the serial number was assigned.