Inventory Management
Systems and applications that are used to create and update warehouse specific inventory information are sometimes referred to as an Inventory Management System.
Inventory Management is performed using both the Warehouse Management System and the Product Management System in StreamV.
The Product Management system is used to create and maintain Product Catalog records and the other information associated with the Catalog records. The Product Catalog record is what stores the basic information about each item in the system.
The Warehouse Management System is used to perform warehouse or location specific item maintenance and other inventory tasks.
In StreamV, items are created and maintained in the Product Catalog file. A Catalog record must be created for an item (using the Product Management System), before any inventory or warehouse records can be created for it.
Orders (sales or purchase orders) , invoices, and other transactions cannot be entered for an item until the item is set up in the specific warehouse location where the document or transaction is being processed. The inventory records for a specific catalog record may be created automatically in some or all of your warehouse locations as the Catalog record is saved, or they may be created in each specific location as required.
Once an item exists in a specific location, the PMS, and WMS systems and other applications and systems such as Order Entry, Purchasing, and Order Fulfillment update the item record as transactions or documents are processed for it.
This section provides some background information on warehouse specific inventory topics. These topics include
• Inventory Item Creation and Maintenance – How warehouse records are created and maintained.
• Inventory Quantities – The quantities that are maintained in each inventory record
• Inventory Costs
• Inventory Dates
• Inventory Sub-ledgers – This section describes the 3 different sub-ledgers or types of inventory values that are tracked by the system.
More:
Inventory Sub ledgers