Inventory

Inventory helps you control and keep track of the items you stock. For each item, including those in lots or those that are serialized, Inventory tracks the quantities sold, purchased, adjusted, or transferred to another location, along with the associated costs. Each item is identified by location, product line, bin number, status, vendor ID, serial or lot number, and unit of measure.

Inventory interfaces with other TRAVERSE applications to record sales, purchases, requisitions, transfers, and movement of inventory items throughout the entire system.

In addition to tracking item movement, use Inventory's tools to record inventory item counts and to facilitate reordering. Reports and Interactive View functions put the information you need to stay on top of inventory needs at your fingertips.

Frequently Used Functions

The most frequently used functions are on the Transactions and Material Requisitions menus. Use these functions to perform the following tasks:

Reflect sales and purchases, adjust quantities, and edit unposted transactions.
Move items from one location to another and edit transfers.
Print unposted transactions, transfers, cost-of-goods-sold (COGS) adjustments purchase price variances (PPVs), and material requisitions.
Post adjustments, sales, purchases, transfers, COGS adjustments, and PPVs.
Enter, return, change, and delete material requisitions.
Print material requisitions.
Print the Material Requisitions Journal function and the Backorder Allocation Report function as audit trails.

Periodic Processing Functions

Periodic Processing functions are on the Periodic Processing menu. Use these functions to change item prices and costs.

Physical Inventory

Physical Inventory functions allow you to conduct a physical inventory by freezing quantities, printing tags and worksheets, and entering physical counts, as well as the periodic task of updating perpetual inventory.

Reports

Use the Reports and Analysis Reports functions to produce reports that provide the following information: inventory movement, item status, pricing, profitability, valuation, cost variance cost, history, safety stock, overstock, movement, sales, gross profit, and trend analysis.

Inquiry

Price and availability, costs and vendors, general item information, item locations, lot and serial numbers, and detail and summary history information can be displayed through the Inquiry functions.

Interfaces

Inventory can be interfaced with Accounts Payable, Accounts Receivable, General Ledger, Purchase Order, Sales Order, Project Costing, and Service Director.