Inventory Management ERP Module

Dynamic Stock Status

Because of the constant and perpetual inventory activity within an enterprise, the ability to track inventory movement is critical. GLOVIA G2’s Inventory management ERP software module manages and provides full visibility of all material movement within your company, warehouse or location, as well as between your locations, both domestic and international. This inventory management ERP software module for manufacturing tracks inventory details by individual bins, as well as through stocking, consigned and in-process locations.

Dock-to-Stock Material Flow

Upon reaching the receiving dock, incoming materials should flow smoothly through receiving and inspection. During this dock-to-stock process, you need visibility of the material’s status, its current whereabouts and its final destination. With the Inventory management ERP software module for manufacturing, you can preset and automatically direct movement through the required steps and locations.

Units-of-Measure, Conversion Scalars and Decimal Precision

If desired, an item can have different buying, stocking and selling units of measure. For example, you may buy material in rolls and stock it in feet. You can build and stock products for inventory as individual units or sell them in packages. This feature lets you conduct business with suppliers and customers on their terms while maintaining inventory on yours. The inventory management software module uses generic and/or item-specific units of measure conversion factors to convert from one unit of measure to another.

The number of decimal places allowed and the rounding treatment can be different for each specific unit of measure. This can be used for example, to ensure that items with a unit measure of ‘each’ will only be planned and all inventory transactions conducted in rounded up whole numbers.

Controlling the Issuance of Materials

Inventory hierarchy tables define the sequence of locations within a warehouse in which to look for materials. LIFO/FIFO capabilities provide the means for controlling the issuance of materials. Accessibility types defined in a location table save time and labor by determining the optimal picking sequence for generating pick lists. The ability to reserve inventory circumvents the need for a more rigorous commitment by allowing the “hard allocation” of materials to a specific demand.

Lot and Serial Traceability

GLOVIA G2’s Inventory management ERP software module maintains the history of all activities for a specific lot number. Serial control may also be used to identify and track critical goods uniquely. Traceability capabilities provide the ability to enforce the recording of trace information during production and to view multi-level top down and bottom up (where used) traceability. This functionality is critical where warranties and recalls are an important facet of the business.

Consigned Inventory

Consigned inventory management provides the ability to identify, manage and report both supplier- and customer-owned inventory. Financial ownership and liability transfer is conducted during ownership transfer/usage transactions instead of the traditional shipping/receiving transactions.

Inventory Controls and Multi-Location Management

Inventory is segregated by:

• Company
• Warehouses/plants/manufacturing units within a company
• Locations
• Bins

Rules are used to determine which materials are available, which materials can be netted during planning, and which materials can be automatically committed to a production order.

The inventory management software module enables transfer orders to can be used to plan and manage the shipment and receipt of materials between companies and warehouses/plants/manufacturing units.

Other inventory control mechanisms include:

• Tem substitution capabilities
• Obsolete or inactive items
• Empty bin analysis

Material Movement

• Drive dock-to-stock transactions with user-defined routing tables
• Receive planned or unplanned material
• Inspection requirements upon receipt/production completion
• Record inspection results
• Assign storage locations to put away material for just-in-time availability
• Dispose of rejected material with Material Review Board (MRB)Inspection and MRB disposition routing
• Return-to-supplier and rework processing
• Capture material scrap for inventory accuracy