Under the menu heading Physical Inventory in the Inventory module, you will find procedures that deal with all aspects of performing physical inventory on parts. There are also procedures used to calculate the inventory value and the value of parts currently being in production (WIP = Work in Progress), how to change a part's stock location, and how to make unplanned stock movements.
Below you will find a brief description of all the procedures that can be found under the Physical Inventory menu in the Inventory module of a complete MONITOR system.
Physical Inventory
Here you can register a new balance directly for inventoried parts, on a per part basis. When registering parts in this procedure, the system will not only update the stock balance, but also the physical inventory date and time, as well as who performed the inventory. If the part has an inventory status, it will be reset to "None".
Physical Inventory List
In the Physical Inventory List procedure you can print part lists that can be used as a basis for the physical inventory and the subsequent registration. The printed list contains a column where you can manually enter the inventoried quantity for each part. As these lists can be selected and sorted in many different ways, you can perform many different types of physical inventory.
Physical Inventory List Reporting
Here you can register a new balance for several inventoried parts. This procedure is usually used when a physical inventory list already has been created. This allows you to select in which order the inventory will be registered, so that it corresponds to the same order as on the physical inventory list. You can classify and select the parts in the same way as the list that was created in the Physical Inventory List procedure. The registration takes place directly on your screen, using a list that is identical to the Physical Inventory List.
Physical Inventory Difference
This procedure is used to calculate the value of the differences that occur after a physical inventory. A difference can be positive or negative. A positive difference means that the inventoried stock is larger than what was registered in the system prior to the physical inventory. A negative difference means that the inventoried stock is smaller than the stock was (in the system) prior to the physical inventory. The physical inventory difference is calculated at the time of the physical inventory and is saved per part.
Continuous Physical Inventory - List
Here you can create physical inventory lists for continuous physical inventory. In this procedure, the system will suggest parts that should be inventoried at the moment. The physical inventory list will get a unique physical inventory number. The physical inventory number is then used when you report in the Continuous Physical Inventory - List Reporting procedure.
Continuous Physical Inventory - List Reporting
Here you report the performed physical inventories that were created in the Continuous Physical Inventory - List procedure.
Physical Inventory Request
Here you can request an inventory of a part in addition to the planned continuous physical inventory. The requested inventories are included by default in the physical inventory list that is printed in the Continuous Physical Inventory - List procedure.
A request of inventory is made for example when you suspect a balance error. The planned physical inventory might be far in the future and this way you can speed up the physical inventory of the part. Another scenario when you can request a physical inventory is in case you get a negative balance when you report the part. You then have the opportunity to go to this procedure to request a physical inventory.
Update Physical Inventory Months
Here you can load a list in order to update the inventory months for different range of parts. This procedure can for example help you to, over the year, have an even distribution of parts per month to inventory. It is possible to change the default percentage distribution for each month, if so desired.
Inventory Value List
Here you can create evaluations of the parts in stock, based on the current balance, inventoried balance or the balance for a particular period (historical balance). You can value parts using different price alternatives, cost factor alternatives, as well as with or without SO (Storage Overhead), for different price comparisons. For example, if the parts have low shrinkage (a part that has been in stock for a long time) in stock, perhaps they should be valued down by using a price alternative that gives a lower value for these parts.
WIP List
Here you can calculate the WIP-value of parts in production (WIP = Work in progress) in the manufacturing orders in progress. In short, the WIP is a total value of the withdrawn material and parts from the purchased or semi-finished product stock, via different manufacturing orders that are under production. The WIP also includes the value of the work that has been put in or the value of the subcontracting.
WIP List - Order-bound Purchases
Here you can calculate the WIP value of the purchase order rows that are linked to manufacturing order, that are in WIP at present.
Inventory Value between Warehouses
This procedure is only available if you have installed the supplement Warehouse Management.
Part List - Warehouse
This procedure is only available if you have installed the supplement Warehouse Management.
Change Stock Location
In this procedure you can register changes of a part's stock location. This procedure is useful in case a stock location for a part is changing the stock location name.
Change Stock Location in List
Here you can register changing stock location names for several parts and several locations at the same time, in a list. If it requires several different registrations, this procedure makes it easy to load all the parts that you want to change stock locations for, and then register the changes in the list.
Generate Location Name
In this procedure you create location names based on coordinates (start value, quantity and separator) entered in a matrix. After the generation you can see and edit the location names that have been created before they are saved. If you activate a setting it is possible to also validate entered locations against the location names generated in this procedure. This takes place during transactions that result in transfer to stock. This is done in order to avoid placing parts in invalid locations. However, the validate location names function cannot be used together with the supplement called Stock Location System.
Location Name List
In this procedure you will see information about location names created in the Generate Location Name procedure. Some information can also be updated.
Unplanned Stock Movements
Here you can perform unplanned material withdrawals from stock, that are not specifically used for a particular order or project. You can also enter unplanned material arrivals which represent the return of material to stock, and which are not either specifically used for a particular order or project either. All transactions that take place via this procedure will directly affect the stock balance, and are logged in Historical Inventory Movements. However, no costs are registered to any orders or projects.
Print Unplanned Stock Movement Ledger / Accounting Orders
Here you can print a ledger that accounts for the unplanned stock movements that have been made. At the bottom of the ledger you will see a total. The unplanned stock movements are registered in a separate procedure called Unplanned Stock Movement. This ledger concludes with a total accounting order, which is formatted like a voucher, and contains all the transactions in the ledger.
Move Stock Balance
With this procedure you can move the stock balance of a part from one location to another, or to several new or existing stock locations. You can also create new locations when moving stock balances.
When you move a stock balance from one stock location to another or to several locations, these locations will have the same "Last arrival date" as the location from which the balance is moved. This means that the age analysis can be maintained for the stock balance that is being moved.
Move Stock Balance between Warehouses
This procedure is only available if you have installed the supplement Warehouse Management.
Refill Pick Location
In this procedure you register orders to refill a part's pick location and you also report the performed refill. The refill is made from the part's other locations which are used as buffer locations.
Reorder Point List - Pick Location
Reorder point lists for parts with pick locations can be printed here. Only parts with a pick location are affected by this list.
Print Transport Labels
In this procedure you can print transport labels based on different reporting events/stock transactions.