IN THIS ARTICLE
- Inventory Configuration : Overview
- Components of Inventory Configuration
Inventory Configuration : Overview
Inventory configuration section displays configuration specific to the Inventory module. These settings determine behavior of the inventory management module both on web and mobile.
Components of Inventory Configuration
Various components of Inventory configuration as follows:
1. Transaction Reasons: Transaction Reasons refer to the specific reasons why certain transactions (issue, receipt, stock count, discard or transfer) were entered. This would be useful to get a detailed understanding of the nature of transactions. For example: Discards can be due to expiry of materials, damage or loss. Such reasons can be pre-configured and customised, so that the users doing entering these transactions can choose them from a dropdown.
2. Material Status: Material status refer to the physical status of a material when it is for specific Inventory operations such as issue, receipt, stock count, discard or transfer can be configured in this section. This means that the system has an option to capture the information of the state in which the material was, when it was being issued, received, stock counted, discarded or transferred. These reasons can be entered as comma-separated list of values for a specific inventory operation.
3. Permissions: Permissions for visibility of customer's inventory to a vendor can be enabled by selecting this option. If selected, the customer's inventory is visible to the vendor when the vendor is creating a transfer transaction.
4. Transaction data export: Daily export of raw transactions can be enabled by selecting this option. The time of day at which the export is to be triggered and the set of recipients can be specified here.
5. Consumption rate & Stock out prediction: The basis for consumption rate calculation for all inventory items in a domain can be specified. Consumption rate can be updated manually or automatically and can be computed at different frequencies (daily, weekly or monthly). Further the consumption rate is used to display the duration for which current inventory in an entity will last. Prediction of stock outs across entities can also be enabled.
6. Forecasting & Optimisation: Inventory forecasting and optimisation can be enabled at various stages with increasing computational complexity. Demand or optimal quantity to be ordered can be forecasted per inventory item based on the computational parameters specified.
7. Min/Max configuration: Minimum and maximum stock holding threshold can be specified per inventory item to ensure that stock holding is optimal. These thresholds can either be based on pre-determined absolute quantities or on periodic consumption rate calculated. If consumption is chosen as the basis, the frequency for updating Min Max can also be specified.
8. Inventory dashboard: The automatic display of inventory holding in the stock views can be enabled or disabled. If the number of entities visible at the domain are large, it is suggested that this visibility is disabled, so that the display is not affected. If the display is on, default entity tags that should appear in this view should also be specified.
9. Manual Transaction upload: The option is available to manually upload all the transactions done, rather than entering the transactions using the mobile or web application. It is suggested that the web and mobile application be used, as the number of data elements that can be captured via manual transaction upload are limited.
10. Date of actual transaction: Date of actual transaction provides users the option to specify the day on which the transaction physically occurred. This is useful in a scenario when there is an expected delay between the day the transaction is physically performed and the day when the transaction is updated on the Logistimo application. This option can be selectively enabled for any of the transactions (issues, receipts, transfers, discards and stock counts)
Navigate to Inventory Configuration page
- Click on Configuration tab in the main menu
- Click on Inventory sub-tab from the dropdown