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Inventory Management Steps

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Inventory Management Steps
Stechies

This component deals with the following tasks:

  • Management of material stocks on a quantity and value basis
  • Planning, Entry, and Documentation of all Goods Movements
  • Carrying out the Physical Inventory

All transactions that bring about a change in stock are entered in real time, as are the stock updates resulting from these changes. You can obtain an overview of the current stock situation of any given material at any time. This, for example, applies to stocks that:

  • Are located in the warehouse
  • Have already been ordered, but have not yet been received
  • Are located in the warehouse, but have already been reserved for production or a customer

Integration of Inventory Management in the Logistic System:

Inventory Management is part of the Materials Management module and is fully integrated throughout the Logistics system:

Material is procured from external or internal sources on the basis of the requirements determined by Material Requirements Planning. The delivery is entered in Inventory Management as a goods receipt. The material is stored (and managed under Inventory Management) until it is delivered to customers (Sales & Distribution), or is used for internal purposes (for example, for production).

During all transactions, Inventory Management accesses both master data (such as material master data) and transaction data (such as purchasing documents) shared by all Logistics
components

Goods Movement:

Goods Movement can be define as: Transaction resulting in a change in stock. Goods movements include both "external" movements (goods receipts from external procurement, goods issues for sales orders) and "internal" movements (goods receipts from production, withdrawals of material for internal purposes, stock transfers, and transfer postings).
For each goods movement a document is created which is used by the system to update quantities and values and serves as proof of goods movements.

You can print goods receipt/issue slips to facilitate physical movements and monitor the individual stocks in the warehouse.

Structure of Goods Movement:

Goods receipt:

A goods receipt (GR) is a goods movement with which the receipt of goods from a vendor or from production is posted. A goods receipt leads to an increase in warehouse stock.

Goods issue:

A goods issue (GI) is a goods movement with which a material withdrawal or material issue, a material consumption, or a shipment of goods to a customer is posted. A goods issue leads to a reduction in warehouse stock.

Difference between Goods Issue and Goods Reciept

Stock transfer:

A stock transfer is the removal of material from one storage location and its transfer to another storage location. Stock transfers can occur either within the same plant or between two plants.

Transfer posting:

A transfer posting is a general term for stock transfers and changes in stock type or stock category of a material. It is irrelevant whether the posting occurs in conjunction with a physical movement or not. Examples of transfer postings are:

  • Transfer postings from material to material
  • Release from quality inspection stock
  • Transfer of consignment material into company's own stock

Table of Contents

Step 1: Goods Receipts: Purchasing Order
Step 2: Creating Reservation
Step 3: Goods Receipts: Reservation
Step 4: Display a Reservation
Step 5: Change Reservation
Step 6: Goods Issue: Purchase Order
Step 7: Goods Issue: Reservation
Step 8: Stock Overview
Step 9: Stock for Posting Date
Step10: Return Delivery
Step11: Stock Transfer: One step (With out Reservation)
(Storage Location to Storage Location)
Step12: Stock Transfer: One step (With Reservation)
(Storage Location to Storage Location)
Step13: Transfer Posting for Reservation
Step14: Stock Overview: After Transfer Posting
Step15: Stock Transfer from Plant to Plant
Step16: Plant Stock Availability
Step17: Stock Transfer: Two Step Procedure
Step18: Place In Storage
Step19: Stock for Posting Date
Step20: Physical Inventory: Creating Physical Inventory Document
Step21: Creating Sessions
Step22: Changing Physical Inventory Document
Step23: Physical Inventory Count
Step24: Inventory Count With out Reference
Step25: Changing physical Inventory Count
Step26: Initiating of Recount
Step27: Posting Inventory Differences
Step28: Posting Count & Differences Simultaneously
Step29: Physical Inventory Information
Step30: Consignment: Creating Info Record
Step31: Procurement of Consignment Material
Step32: Stock Movement: Goods Receipts (Consignment Material)
Step33: Displaying Consignment Overview
Step34: Goods Issue: Consignment Stock
Step35: Transferring Consignment Material
Step36: Settling Consignment Stock
Step37: Pipeline: Creating Pipeline Material
Step38: Pipeline: Creating Info Record
Step39: Goods Issue: Pipeline
Step40: Settling Pipeline Liabilities


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