Effective inventory management requires the control of supply, storage and access to the items in your organization to ensure an adequate supply of items to fulfill orders without holding more inventory than you actually need. The Inventory Management App allows you to manage the inventory in your inventory network. You can use this app to manage your inventory
Stock. Products or services that are available to buy or items that form part of a product or service. Where the item is tangible such as hardware, that item may be held in a warehouse as stock, or ordered directly from a supplier when a customer places an order., and the tasks to be carried out at each warehouse. You can track inventory across your inventory network in many ways including:
- serial numbers
- lot numbers
- shelf life
- by its condition
The diagram that follows shows the activities that the SCM Inventory Management app handles.
Click an area in the diagram to display a corresponding topic.
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Cycle Count
Depending on your role, you can use the cycle count A procedure used to audit the items in the inventory against the actual items on the shelves in the warehouses. feature to verify or audit the accounts of inventory. This allows you to look at when it was last touched and whether the items on the shelf match those in the system.
Information Required
Inventory management requires several key elements to be set up, defined mapped and maintained to support effective management of a business and optimized decision making. The key inventory information requirements include:
- Inventory Control Points (ICP Inventory Control Point. A distribution center or place around the globe that inventory items are controlled from. An ICP may have one or more warehouses.s)
- Warehouses
- Locations
- Item Master
- Commodity Codes
- Product Groups
- Customer Reference
- Manufacturer’s Reference
- Model Relationships
- Units of Measure
- Cycle Count Profiles
- Logistics Shipping Information
For further information see Administrator Guide.