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<< Click to Display Table of Contents >> Inventory Type |
  
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<< Click to Display Table of Contents >> Inventory Type |
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Inventory Type codes are used to classify inventory items that have similar characteristics. For example, you can use an Inventory Type code to represent groups of related inventory items, such as computer monitors, or video tapes packaged in a specific unit-of-measurement (six-packs versus 3-packs). The settings defined in Inventory Type Maintenance provide the defaults for new inventory records to which the inventory type is assigned. When creating new inventory items and you assign an Inventory Type, the system will automatically set up default values for the new item records using the settings defined in the Inventory Type record.
You can create and maintain inventory type records and share these records with other activated modules such as the Sales Order, Accounts Receivable, Purchase Order and Inventory Control modules. The fields in the Inventory Type Maintenance function that are dependent upon a certain module can be edited only if that module is activated. These fields are noted in the succeeding sections.
When the Inventory Control module is neither installed nor activated, you can still create inventory type records; however, there are limitations as follows:
•The system automatically provides a “Main” warehouse that you can use when you set up inventory type records; it does not allow you to set up other warehouse records without Inventory Control.
•The system automatically provides a “Master” bin in the “Main” warehouse that you can use when you set up inventory type records; you cannot set up other bins in the “Main” warehouse without Inventory Control.
•You can assign only the “Average” cost method in each inventory type record.
•You cannot enter a unit of measurement in the inventory type record.
•You cannot assign lot and serial numbers as well as specifications to the inventory types and cannot designate an inventory type as a kit.
Activating the Inventory Control module allows you to define multiple warehouses and supports the use of the Weighted Average, FIFO, LIFO, Lot Costing, Specific ID, and Standard cost methods for valuing inventory items; among other features.
In the Inventory Type Maintenance function, you can perform any of the following:
•Copy, Update or Delete Inventory Type Record
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