The Inventory Control Application maintains various types
of inventory and tracks all inventory transactions.
Each inventory item must be a raw material, finished
good or tool. We even have an unfinished goods
file for those finished goods items that have not yet
- Unlimited number of inventory categories.
- Unique specifications for each inventory item.
- LIFO, FIFO, AVERAGE, ACTUAL or STANDARD costing
- Unlimited locations for each inventory item.
- Component cost breakdown.
- Unlimited units of measure for each inventory item.
- Automatic transactions logging when inventory items
- Tracking of unfinished goods.
- Lot number / heat number tracing.
You can create as many categories as you want as a
way to subdivide your inventory. Each category can be
assigned an unlimited number of specification headings.
When you enter an inventory item for the first time,
you will be prompted to enter the specifications associated
with its category (Length, Width, Height
the specification headings are common to the category,
the specifications themselves are unique to the inventory
You have the option to use LIFO, FIFO, AVERAGE, ACTUAL
or STANDARD costing for any inventory item. Each of
these costs can be broken down into their material,
direct labor, indirect labor and outside service components.
You can create as many locations as you want and move
material between them. While some companies have one
location called SHOP, others have multiple locations
specifying the rack and shelf number.
Each material can have an unlimited number of conversion
factors giving you the ability to define, as many units
of measure as you want for each material. You can buy
a material in LBS, issue it in FEET and store it in
Each time an inventory item is moved (received, issued,
.) a transaction is logged which keeps
track of its source, destination and beginning balance.
These transactions allow you to view your inventory
at any point in time.