Stock Rooms: Inventory

The following are the fields/columns on the Stock Rooms page:

• Stock Room: Name of stock room.

• Bin: Bin in which the item is stored.

• On Hand: Number of items currently in stock (physical count).

  Inventory levels are updated when actual part quantity is updated on a work order (on the Actual Costspage or through the Complete/Close work order process). Make sure that actual quantities are accurately reflected on work orders. If the actual quantities are not updated, any quantities reserved through estimates will be released when the work order is closed. 

  Actual quantities can be updated on the Costs: Actual sub-tab or by using the available option on the Complete/Close dialog to set part estimates to actuals.

• Rsrv: Number of items that have been reserved through work order estimates.

• Avl: Number of items available if reserved parts are used as anticipated.

  This value is calculated by reducing the number On Hand by the number Rsrv.

• On Order (Aprv): Number of items currently on order.

  Items for which purchase orders have been created will be included in the On Order (Aprv). As the items are received, the inventory On Hand and Avl will increase and the On Order quantity will decrease.

• On Order (All): Number of items currently on order.

  As the items are received, the inventory On Hand and Avl will increase and the On Order quantity will decrease.

• Avg Cost: Average cost of items purchased.

• Last Cost: Cost of the last (most recent) purchase.

• Std Cost: Current standard cost of the item.

1. Click Add.

   A window opens.

2. Search for the stock room you want to add.

3. Click the stock room you want to add.

   If the desired stock room is not displayed, check to make sure that the correct repair center is selected from the filters on the left.

   The Stock Rooms window opens.

4. Select the Stock? check box if you want to mark the item as currently stocked in this stock room.

   This setting also tells the system that this item should be displayed in the Stocked Items to Reorder filter.

5. Select the Reimbursable? check box if you want to mark the item as reimbursable by a customer, such as the occupant in a property management installation.

6. Enter the bin information in the Bin field.

   If the designated bin has already been defined for this part in this stock room, Maintenance Connection warns you that the selection is a duplicate and that a different bin must be specified. Stock Room: Bin combinations must be unique for the given part.

7. Enter the lot information in the Lot field.

8. Enter the order and issue units as needed:

   • Order Units: The unit of measure that is ordered

     Examples include case or each. 

   • Issue Units: The smallest units available to those that are reserving or ordering the item. 

   • Conversion to Issue Units: The factor used to convert order units to issue units

     For example, smoke alarms could be ordered by the case, but issued by the individual alarm. This would result in order units of case, issue units of each, and a conversion factor of 12. The fields default to order and issue units of each, with a conversion factor of one. The values entered will be displayed on any corresponding purchase orders.

9. Enter the reorder parameters as needed:

   • Reorder Point: Enter the reorder point in issue units. As the available quantity is decreased to a value equal to (or less than) the reorder point, the item will be flagged for reorder. The default reorder point is set to one unit.

   • Maximum Point: A guide for the maximum number of items to purchase. The default maximum point is set to 50.

   • Reorder Quantity: The number of order units to be purchased when the inventory reaches the reorder point

     The default reorder quantity is set to 1 unit.

     An Inventory module Preference is available that modifies the reorder quantity formula to take into account the amount below reorder point when determining reorder quantity.

9. Enter the current inventory level in the On Hand field.

   The Avl field is automatically populated upon entering the On Hand value.

10. Enter additional inventory data fields:

    • Account: Account for the stock room.

    • ABC code: Inventory categorization that assigns a class to every item based on frequency of sale or use.

    • Count Cycle: Interval after which an inventory count is taken.

    • Last Counted: Date on which the inventory count was last taken.

11. Select the cost rule to be applied to this stock room from the Cost Rule field.

    It is not necessary to modify the cost rule information if you chose on the Inventory Details page that costs and charges should be applied to all stock rooms. Upon saving this new record, the fields will be automatically populated with the values on the Inventory Details page. 

12. In the cost fields (Avg Cost, Last Cost, Std Cost), enter values corresponding to the cost rule specified.

    • Avg Cost: If you selected the AVG-Average Cost costing method, enter an initial value to use until historical records can be calculated in the Avg Cost field. 

      The average cost (per order unit) will be calculated based on the average of all purchase orders completed for this stock room. Once purchase order history is processed, the value will be applied to parts attached to a work order when the cost rule is set to AVG-Average Cost.

    • Last Cost: If you selected the L-Last Cost costing method, enter an initial value to use until purchase order history is available to determine the last order price in the Last Cost field. 

      Once purchase order history is processed, this value will be applied to parts attached to a work order when the cost rule is set to L-Last Cost.

    • Standard Cost: If you selected the S-Standard Cost costing method, enter the fixed cost to be applied in the Standard Cost field. 

      This value will be applied to parts attached to a work order when the cost rule is set to S-Standard Cost.

13. Enter a charge price or percentage in the Charge Price and Charge Percentage fields.

    These rates are often used for customer or internal department charge backs. The charge price is a fixed rate that should exceed the value of the cost. The charge percentage calculates the cost as a markup based on the percentage indicated. 

    For example, an item with a standard cost of $10 and a charge percent of 10 (indicating 10%) would result in a charge rate of $11.00 recorded for work order part costs. 

    If both a charge price and percent are defined, the charge price will be used.

14. Select or clear the following check boxes:

    The auto-update cost fields for procedures are set to True by default. The values can be modified as needed.

    • Auto-Update Procedure Part Cost: Ensures that estimated costs defined for the part included in any procedures are updated whenever the cost is changed. This check box is selected to ensure that estimated costs are accurately populated onto work orders generated from associated procedures.

    • Auto-Update Procedure Part Cost With: Determines the cost to be applied

    • Auto-Update Procedure Part Charge: Ensures that estimated charge rates defined for parts included in any procedures are updated whenever the charge price is changed

15. Enter any additional comments in the Comments field.

15. Choose between two options:

    • Click Apply.

      The window closes. The new stock room is listed in the My Selection(s) pane.

    • Click Apply/Close.

      The Stock Rooms page appears. Skip to Step 18.

17. Continue selecting additional stock rooms as needed.

    To remove a record that has been added to the My Selection(s) area in error, click the blue arrow directly to the left of the row.

18. Click Apply.

    The window closes. The new stock rooms are added to the Stock Rooms list.

19. Click Save.

     

    Adding a stock room and corresponding inventory results in the following:

    • Since you are entering initial inventory for the designated stock room, a transaction is created to reflect this initial quantity. This record can be viewed on the Inventory Transactions page.

    • If this inventory item has been flagged as rotating, rotating assets are created. The number of assets created correspond to the initial on hand inventory you specified. By default, these records are placed in a folder in the Stock Rooms node at the highest level of the Asset List. 

1. Click the row for the stock room whose parameters you want to modify.

   The Stock Rooms window opens.

2. Make your changes.

   Clearing the Stock? check box does not remove the item from the stock room. This means that adding the item to a work order as an actual part cost will still decrease the On Hand quantity for the part in the stock room.

   When the item reaches its reorder point, it will not display in the Stock Items to Reorder filter and is not eligible for automatic reordering using the Order Parts tool.

3. Click Apply.

   The window closes.

4. Click Save.

    

1. Select the check box to the left of the stock room you want to remove. 

2. Continue to select any additional stock room relationships to be removed for this item.

3. Click Remove.

   The stock room is removed.

4. Click Save.

    

   Removing a stock room results in the following:

   • For standard inventory items, a transaction is created to reflect the removal of the stock room inventory. This transaction is displayed on the Transactions tab.

   • For rotating inventory items, removal of a stock room results in the deletion of associated assets. All assets from this stock room node are deleted. Each deletion is listed as a Rotate Dispose on the Transactions tab.

You can also update inventory quantities for multiple items in a single step. Access to this tool is dependent on your access group permissions.

Update the inventory levels by stock room for an item:

1. Click the row for the stock room inventory you want to modify.

   The Stock Rooms window opens.

2. Enter the new inventory level in the On Hand field.

   The Avl field automatically calculates when you enter a new value in the On Hand field.

   If the inventory item being updated has been flagged as rotating, adjustments to inventory result in the addition or removal of rotating assets: 

   • If on-hand inventory levels increase, corresponding rotating assets are created and placed in the correct stock room node of the Asset List. 

   • If on-hand inventory levels decrease, assets from this stock room node are deleted.

3. Click Apply.

   The window closes.

4. Click Save.

    

   A transaction is created to reflect the adjustment to inventory levels for this stock room. This transaction is displayed on the Transactions: Adjustment.