Common Terminology

ABC Classifications are used to establish management parameters for similar stock items that are used to group like items and control different stock levels.

For the warehouse table, the field indicates the inventory accounting method to be used for the warehouse.  If set to Purchase Method, then the warehouse will record an expenditure for inventory items when they are received.  In such a case, when issuing inventory, the offset to the inventory balance sheet account is an offset balance sheet account.  If set to Consumption Method, then the warehouse does not recognize any expenditures for inventory items until that are issued from the warehouse.  In such a case, when issuing inventory, an expenditure is booked to the Cost of Goods Sold Object (COGS).

A unique code that identifies why an inventory item is being adjusted.

Represents the quantity of the stock item that is available.

Represents the amount of a stocked item that has been requested but cannot be issued due to insufficient inventory levels.  In addition, this represents the stock item quantity that needs to be ordered into the warehouse to fulfill issue requests.

An option that indicates if the warehouse allows backordering of inventory items, or if the request for out of stock items will be rejected.  The default is not selected.

Stores the stock item number and stock item suffix of the “children” items within the given group.

A unique number that indicates that the warehouse is the child (satellite) of a given parent.  A child warehouse cannot be a parent (central) warehouse.

The common accounting elements assigned to the warehouse.

This represents the stock item quantity that is currently requisitioned for the warehouse.

A calculation that factors in EOQ Carry Percentage and EOQ Order Cost when calculating the reorder level.

The percentage carrying cost for the selected commodity.  It is only required if the Order Quantity Method is EOQ.

The cost of placing an order for the selected item.  It is only required if the Order Quantity Method is EOQ.

Represents the total carrying cost for a given inventory item.  Extended Cost = On Hand * Unit Cost.

The handling fee that will be charged when the Return Type is Fixed.

The method that best suits forecasting needs.  The information is stored in the ABC Classification Parameter and is used for the Forecast Demand program.  Valid values are Seasonal, Nonseasonal/Regular, and Manual Setting.

This represents the stock item quantity that is in transfer to the issuing warehouse.

The number of days added to the purchasing lead time.  The lead time is the additional number of days the inventory manager sets up to allow for unexpected delays. The entry is used to compute reorder levels and amounts.

A numeric field that stores the number of orders used to calculate the average lead-time.  The default is zero.

The number of months used for calculations in forecasting.  

Defines the object against which the adjustment is expensed.  

This represents the stock item quantity that is currently present in the warehouse.

This represents the stock item quantity that is currently ordered for the warehouse.

The method used to calculate the reorder quantity.  Valid values are Economic Order Quantity (EOQ), Order-Up-To Quantity, and Manual.

Stores the stock item number and stock item suffix that identifies the item group.

A unique number that identifies the parent warehouse.  A parent warehouse can have many child warehouses.

The handling fee that will be charged when the Return Type is Percentage.

Used on the PI transaction, this field has the following options: Print New Pick Tickets, Print New Pick Tickets and Schedule Issue Confirmation, Reprint Pick Tickets, Schedule Issue Confirmation, and Schedule Issue Confirmation by Delivery Date.  The Print New Pick Tickets and the Print New Pick Tickets and Schedule Issue Confirmation options both print a Pick and Issue Order and generate a draft CI transaction.  The only difference is that the latter generates the transaction with a Status of Ready for nightly processing, while the former generates the transaction in Held status.

This represents the stock item quantity that was released by the PI transaction.

This represents the stock item quantity that is reserved for issue from the warehouse.

Used to determine the handling fee for stock returns.  Valid values are Percentage or Fixed.  The default is Percentage.

This code is used to define the reason for returning the goods and is setup on the Inventory Return (RETC) table.

This factor is the level at which you must place an order to avoid stock outs.  It is a numeric factor controlling the level of service with an ABC Classification and must be equal to or greater than zero.   

Used on the PI transaction, this field has the following options: All Stock Requisitions, Specific Stock Requisition Number, and Specific Delivery Date.  The All Stock Requisitions option prints tickets for all SRQ records that meet the search criteria.  The Specific Stock Requisition Number option allows the user to print a pick ticket for the specific SRQ entered on the transaction.  The Specific Delivery Date option allows the user to define which SRQs to print based on their delivery date.  

This indicates the goods will only be issued if all items have been reserved. If the Available Quantity is insufficient to reserve the entire requested quantity and the Ship Whole indicator on the Stock Requisition is not selected, the SRQ transaction reserves the Available Quantity and backorders the balance. If the Ship Whole indicator is selected, and the available quantity is insufficient, none of the requested quantity of stock items will be reserved.  All items will be backordered if the specified warehouse allows backorders.

A numeric field that stores the number of days the Stock Adjustment remains on the Transaction Catalog until it can be archived.  This is the number of days that has passed since the Stock Adjustment transaction was closed. A positive non-zero value is required.

A numeric field that stores the number of days the Over-the-Counter and Inventory Conformation transactions must remain on the Transaction Catalog before they can be archived.  This is the number of days that has passed since the Over-the-Counter transaction was closed.  A positive non-zero value is required.

The number that uniquely identified the item in the warehouse.  The Stock Item Number is chosen from valid inventory commodities on the Commodity table.

A numeric field that stores the number of days the Stock Requisition must remain on the Transaction Catalog until it can be archived.  This is the number of days that has passed since the Stock Requisition was closed.  A positive non-zero value is required.

Requests the stock items from a particular Warehouse.  Stock Requisition (SR) transactions are recorded in the system as a pre-encumbrance.

A numeric field that stores the number of days the Warehouse Transfer must remain on the Transaction Catalog until it can be archived.  This is the number of days that has passed since the Warehouse Transfer transaction was closed.  A positive non-zero value is required.

An option that indicates if the transfer quantities for the issuing warehouse should be included when calculating the reorder quantities.  The default is not selected.

The cost of one unit of the stock item.  The Unit Cost of the stock item is equal to the Extended Cost divided by the On-Hand Quantity.

The price at which the stock items are issued from the warehouse.

The physical location where the stock items are stored.

A unique code setup on the Procurement Location table used to define the address of the warehouse.