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Inventory

The Nextsoft Inventory system provides the tools and information to track and manage inventory, control costs, measure vendor delivery performance, track serial numbers and monitor real-time activity.

Inventory controls are rigid for those items requiring strict tracking, and can be relaxed for supply-type items that are not counted or have little value.

General Info
The General Info tab of the inventory folder contains all basic data about the part, including 20 digit part number, unlimited descriptions for both purchasing and selling, standard cost, retail price and special ordering notes.

A categories field allows you to group each item into product categories for easy searching. Bin location contains the bin or stacking area where the part is located within your warehouse.

The Type field determines whether the item is real inventory and should be strictly tracked, or a supply item that has no tracking rules. Supply type items might include warehouse consumables, very small parts (nails or rivets), rolled items (tape or wire), truck consumables (oil or cleaners) and other parts or supplies for which you want to create purchase orders, or even sell to a customer, but donít want to track the quantity on-hand, or be required to count.

Accessories
By creating a linking between an item and its accessories or parts, your team can better identify whatís needed for a replacement part, or to up-sell an optional accessory. Accessories are any other part in the inventory system that is either a component within a complex part, or an add-on or complimentary part. Accessories can also be used as a cross index of alternate parts that could be used if the requested one is out-of-stock.

Pricing
Up to five price levels, in addition to retail, can be created for each part. Customers can then be assigned to any of the five levels, otherwise default to the retail price. Past purchasing prices are automatically cataloged by vendor, so you can quickly tell which vendors offer the best price, and when the last purchase was made to that vendor.

Minimum and maximum stock levels can be used to automatically prepare purchase orders to keep the optimum quantities available in stock.

Serial Numbers
Serialized items can be tracked specifically by serial number by enabling the serialization option for the item. Once selected, all incoming packing slips will prompt to enter the serial numbers for the quantity being received. These serial numbers are available through the Serial Number tab in the Inventory folder. When sold, the available serial numbers are presented and the correct ones selected from the list. 

The Equipment file is created automatically by this activity, each entry showing the date purchased and sold, serial number selected, and customer site where the equipment is located. The Equipment file is useful when tracking returns, warranties or manufacturer recalls. 

History/Cost Register
All activity in Nextsoft is processed in real-time, including purchase orders, shipping and inventory adjustments. As a result, real-time cost and availability information is always available on all inventory items. The Cost Register tab in the Inventory folder shows this activity in a checkbook-style register, with a running total of current on-hand, actual cost, average cost and transaction information (type, date, ID). From the register you can easily open any line to view the original transaction.

All history is maintained online for the life of the part, so you can research vendor and customer activity for any period of time.

Managing Inventory
Pulling inventory together requires input and teamwork from all areas of the business, including purchasing, receiving, shipping, and sales. Combined with incremental counting on a weekly basis, inventory can be successfully maintained and leveraged as a cost management and planning tool. 

Standard reports include parts lists, vendor delivery performance and inventory valuation. 

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