Inventory Master File Features and Functions
The inventory application will not operate efficiently unless everything has been defined or set up. This series of questions helps users understand some of the more common set up functions.
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Item Status
The item status code tells the system how to group items, and in the case of non-active items, tells the system not to allow any activity.
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Item Technical Specifications
Since the information that an individual user might require cannot be determined in advance, the system should give users the ability to define any number of files that contain technical information. In addition, users should be able to jump from a parent item and its technical specifications to one of the components and its technical specifications without having to do anything other than point at the component on the parts list or point at the drawing number to display the drawing itself.
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Bar Code Tracking
This question tries to determine the functions supported by bar codes. As items are received, the receiving clerk should be able to select the PO to record the receipt, and then immediately have the system print bar code labels to be affixed to each item as it is received. In addition, the system should be able to translate the suppliers bar code and identify the user ID number from that bar code. Similarly users should be able to use a bar code scanner to record items for a physical inventory count and record items being picked for shipment (including serial number).
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Basis for Cycle Count Code
If items are to be counted on a cyclical basis, there has to be some "rule" that defines when the item will be counted. In some cases the ABC code as calculated by the system will drive the assignment of the cycle count code, or it will be based upon some user-defined criteria.
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ABC Class Code Management
This question tries to identify some of the ABC codes the system tracks and most importantly if the system has the ability to update this information automatically.
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Customer-Owned Inventory Management
This question lists several of the services (i.e., stocking, storage, handling, etc.) that may be performed as well as billing options. Hopefully, the system will be able to meet all of these requirements.
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Inventory Costing Method
There are several methods of determining what cost to assign to an item once it is sold. The choice of the costing method must be left to the user, and as such inventory modules should give users several choices. Many of these conventions are listed in this question.
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Standard Cost Modification
This question tries to identify the basis upon which the standard costs will be modified as well as whether groups or all items can be changed in a single process.
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Normal Vendor
The listing of the normal vendor for an item will improve a company's ability to place orders quickly and review recent statistics concerning the cost of that item.
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Pricing Conventions
This question asks whether the system has the ability to assign only one or multiple prices to an item and what the price conventions are.
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Warehouse Level Pricing/Costing
Users should have the ability to maintain completely separate cost and price structures for each warehouse.
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Customer Price Matrix Options
Market forces demand that users be able to create special pricing matrices for specific customers or customer groups. In addition, specific customers might be given special pricing either across the board, for specific items or for specific item groups.
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Customer Contract Options (Additional)
Competitive and market forces have created the need for special customer pricing options. In addition to the variations listed in the previous question, this question tries to highlight additional variations, functions, or options.
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Reorder Conventions
This question asks whether the reordering must be handled manually or with the assistance of the system (i.e., the system will flag those items to be ordered and suggest the quantities to be ordered). This question also identifies the various reorder methodologies used by the system.
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Reorder Control
Those organizations with thousands of items in stock need more sophistication when it comes to determining when an item should be reordered from a supplier. In most instances users rely upon some form of forecast whereby needs are anticipated.
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Vendor Lead Time
This question lists some of the factors that must be taken into consideration as well as the internal mechanics by which the necessary calculations are performed.
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Internal Lead Times
The time it takes to complete the entire acquisition cycle must be taken into consideration when reorder points are determined.
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Inventory Master File (General)
This series of questions helps users understand how an inventory system can be set up and utilized.
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Inventory Features and Functions
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