You can set up and maintain the stock management settings for items by warehouse in the item maintenance in Exact Globe Next. The stock management settings are used to maintain an accurate value of stock, determine the way the stock is replenished, and determine the fulfillment date of open requests (sales orders and internal use requests).
The stock management settings are used by the system to generate the purchase advice for purchase items or production advice for manufactured items.
This function is useful when several warehouses are managed by different administrations, allowing the stock for the same item to be managed differently in the respective warehouses.
Select the relevant item and click Open.
If you want to set up the stock management settings for the item in a warehouse, click New under the Warehouses section in the Inventory tab.
If you want to maintain the stock management settings for the item in a specific warehouse, select the relevant warehouse and then click Edit under the Warehouses section.
By default, the item code of the selected item for which you want to set up or modify the stock management settings is displayed. The item description is displayed in the next line. This information is not available for editing.
Type or select the warehouse code of the item for which you are defining the stock management settings. If you are modifying the stock management settings for the item, the warehouse is displayed by default and cannot be modified.
Type or select the location code of the default location used to store the stock for the item. The default location is automatically entered as the warehouse location information in the order fulfillment, location transfers, and interbranch transfers entry screens. The information in these entry screens can still be modified.
Note: This information is available only if you select the Warehouse locations check box under the Fulfillment section in Inventory settings at System ➔ General ➔ Settings.
Type a cost price for the item in this warehouse. By default, the initial cost price entered is taken from the master cost price in the Basics tab in the item maintenance. Being able to define cost prices that are specific to the relevant warehouses is useful because items in different warehouses may incur different levels of costs, for example landed costs, which may result in different stock values.
Note: This information is available only if the Cost price calculation per warehouse check box is selected under the Entry section in Inventory settings at System ➔ General ➔ Settings.
Type the minimum stock level to indicate the minimum stock required to be purchased or produced.
For more information on generating purchase advice, see Generating purchase orders.
Type the maximum quantity that needs to be replenished in order to keep the maximum level of stock in the warehouse.
By default, this is the quantity that is available physically (the quantity on-hand) in the warehouse. This information cannot be modified.
By default, this information is the date of the most recent stock count. This information is not available for editing. It is automatically updated when a stock count is registered, and is also displayed at Date last counted in the item transaction card. The date of the most recent stock count is used in conjunction with the counting cycle to determine the next stock count for an item.
Type the number of days in between cycle counts for the item in the warehouse. The cycle count period information is used in conjunction with the date of the most recent stock count to determine the next stock count. This information is used when you click New at Inventory ➔ Warehouse management ➔ Counts and select the Use: Counting cycle check box under the Extra section in the Counts screen. For more information on creating stock counts, see Creating and viewing stock counts.
Select an order policy code to define the method to use for stock replenishment. The order policy codes are business rules that determine the way the stock is replenished. There are two types of order policy codes; the order controlled (Lot-for-lot) and stock controlled (Fixed, Period order, Reorder point) order policy codes. The purchase or production advice is generated based on the selected order policy code, taking into consideration some or all of the following factors - purchase order size (PO size) or production batch quantity (Batch quantity), reorder period (Period), minimum stock level (minimum PO level) and maximum stock level (Maximum).
The order policy codes available are:
For more information on the way order policy code influences the purchase and production advice quantity respectively, see Generating purchase orders and Production advice.
For more information on purchase order size (PO size), see Creating and maintaining items – Purchase/Sales tab.
For more information on production batch quantity (Batch quantity), see Creating and maintaining Bills of Material.
Type the number of days in between stock replenishments. The stock replenishment is expected after this period starting from the last replenishment date.
Note: Period is available only if Period reorder is selected at Order policy code.
Type the sales order lead time applicable to the warehouse. The lead time is used to derive the fulfillment date in the sales order entry screen. The fulfillment date in the order lines is calculated from the sales order date in the header, including the delivery lead time.
Note: This information is not available when the Order performance dates check box is selected under the Entry section at System ➔ General ➔ Settings ➔ Purchase settings.
Type or select the resource code of the person responsible for the management of the stock in the warehouse.
Click this to save the changes and exit.
Click this to exit without saving the changes.