Some of the primary features that are included in the StreamV Return to Vendor System are:
Efficiency: The StreamV Return to Vendor allows you to easily generate the paperwork used to initiate shipments to your vendors The system allows the shipping facility to process the outbound shipment along with normal customer orders and to quickly produce the required shipment documentation such as UPS, FEDEX or other shipping labels, and shipping manifests. Replacement merchandise from the vendor can be received into the system easily.
Integration: The RTV System makes use of standard order entry, picking, order completion and automated shipping procedures. The StreamV RTV system allows you to quickly enter loaner RTV orders for the items to be sent back to your vendors for credit or replacement. The standard Sales Order Entry program allows you to input the items to be returned to each vendor using a dedicated Return to Vendor customer record, which has ShipTo records attached to it which point to the vendors that you process returns for. The RTV Orders are processed using the same allocation, order hold, and shipping procedures that are used for other outbound shipments. RTV orders cannot reserve inventory that is already allocated to customer orders, and the database is updated automatically as RTV transactions are processed.
Visibility: The RTV System allows you to easily track open Vendor returns and research closed vendor returns transactions. When the RTV system is used, the items shipped back to the Vendor are tracked in the Pending file and the RTV Management program can be used to display the open and closed vendor returns transactions (pending records) for each vendor. The Aged Pending Inventory Report can be used to output and value the open vendor returns (goods which have been sent back to the vendor but still belong to you) at any point in time. The Pending report allow you to verify the accuracy of your Balance Sheet and the effect of vendor returns on the income statement is easily measurable and identifiable
Flexibility: The RTV System allows you to return items to your vendor and to decide on how the return transaction should be recorded after the vendor has received and determined how to handle the items that you have returned. The items returned to the vendor can be used to create a negative invoice for the vendor, they can be returned to inventory (to handle defective merchandise that is replaced by the vendor), and they can be written off (to handle situations where the vendor is not issuing you a credit or replacing the items).
Validation: The RTV System validates the information that is being used to process vendor returns. The RTV System uses standard validation tables for required information such as payment terms, and shipping methods and it also allows you to set up optional Gencode or Validation tables to allow consistent and complete data entry.
Comment Support: The RTV system automatically displays any returns comments that have been entered for the item or vendor being processed. The RTV programs also allow you add detailed notes to each vendor return being processed. These notes can be viewed by all or selected operators.
Change Tracking: Data Change History records are created when RTV orders are modified. The Change records allowing you to display and track the changes that have been made to each order since it was created.
Security: Returns Processing programs can be restricted to specific users, and individual returns processing options (create AP invoice, return to inventory, and write-off) can be blocked or made available to specific users as required. Field Level security allows you to specify which fields in each program can be viewed and modified by each operator.
Serialized Inventory Tracking. The RTV system automatically validates the serial information being entered, it updates the status of each serialized inventory record being processed, and it creates Serial History records to track the transactions for each serialized item.
Automated Gain and Loss Calculation: Automatic recognition of any gains or losses due to the vendor return. The RTV system automatically creates an entry to record the gain or loss from each vendor return transaction, based on the value of the items returned (the cost is recorded in the Pending records for each shipment), and the amount of the credit being received from the vendor. The system also records any gain or loss due to the vendor replacing defective items, and it records the reason for any writeoffs that result from vendor returns processing.
Three Way Matching. The RTV System automatically links the inventory transactions or inventory activity for each vendor return for credit to the AP invoice that is created by the system to record the credit. The item details (inventory transactions) and the general ledger activity for each return can be viewed from the AP invoice that is created by the system.