Slide 1

Slide notes:

 

 

 

 

Slide 2

Slide notes: The Inventory Catalogue comprises the list of Stock Items that are managed as Inventory. This list of Stock Items is called the Catalogue, or more correctly it is actually the Inventory Catalogue, because there are also other Catalogues like the Retail Catalogue and the External Catalogue.

 

 

 

 

Slide 3

Slide notes: The Inventory Catalogue includes real, tangible goods that we keep in Stock. Services Items that are not real physical Items can be available in the Retail Catalogue, but not in the Inventory Catalogue.

 

 

 

 

Slide 4

Slide notes: The Stock Items, being physical, are always somewhere. This somewhere is a place that we call a Store or a Warehouse, and there can be 1 or many of these Stores. Realistically, a Warehouse is more like a place where Stock are received and kept in bulk, and from there distributed to other Stores as needed, and a Store is like a Retail Branch or a local Store in a geographical place where it is close to the point of consumption.

 

 

 

 

Slide 5

Slide notes: Actually, a Store can also be a pseudo Store, where for example there is 1 place, but there are 3 Stores with different names and content. So physically, while it is only 1 place, it can also be seen as multiple Stores and managed by the system as multiple and separate Stores. So we can say that IES is a Multi Warehouse system. While the Stores in the system are and can be marked as Warehouses, or not Warehouses as such, the terms Warehouse and Store are effectively interchangeable and often simply referred to as Stores. A Store is therefore the concept of a Store or Warehouse, with a capability to function as either.

 

 

 

 

Slide 6

Slide notes: Each Store is managed as a Sub Ledger in the Financial Management system, and therefore a Store is linked to a Stores Control Account in the General Ledger, and this Account is a Balance Sheet Account that always represents and balances to the current total value of all the goods in that Store. The integration is seamless and automatic, and all processing of any nature on a Stock Item in a Store is automatically and simultaneously processed in the Stores Control Account. Therefore, there cannot be any imbalance between the Sub Ledger and the Main Ledger.

 

 

 

 

Slide 7

Slide notes: The same Stock Item can be found in multiple Stores. So the system has an overall Account for a Stock Item, knowing the total value and quantity for this Item in all Stores, and at the same time there is also a separate Account for the Stock Item in each Store where it is found. In practice, the same Stock Item can have the same price and average cost in all Stores, but it can also have very different average cost, pricing and management policies as found in different Stores. Each Stock Item is therefore managed as a sub item of the parent Stock Code, but certainly as a separate entity in it's home Store where it is found, even though this may be in multiple Stores. So we say that IES is a Multi Warehouse, Multi Item system.

 

 

 

 

Slide 8

Slide notes: For any Stock Item in a Store, there is automatic intelligence that is integrated to Purchase Orders and Consumption. Consumption can be for internal use in the Company, in which case we generally call it Stock Issues, and Consumption can also be for external use, i.e. as sold to Customers, in which case we generally call it Sales.

 

 

 

 

Slide 9

Slide notes: So for each Stock Item in any Store, there is a system awareness of Purchase Orders where this Item is Ordered, Stock Transfers where this Item is moved, Issues and Sales when the Item is consumed, Average Cost, Last Order Price, Last Invoice Price, etc. A Stock Item can also attract Landed Costs over and above Purchase Price. And since all of this information is available at the level of the Stock Item in Store, it is certainly also available at the Stock Code level, as totals or all occurrences of the Stock Item in various Stores.

 

 

 

 

Slide 10

Slide notes: The Inventory Management system includes a host of functions for proper Inventory Management. The 1st and primary set of functions can be called the File Maintenance functions, and we use these options to manage the Master Files, inclusive of the main Catalogue and all it's subsidiary elements.

 

 

 

 

Slide 11

Slide notes: IES has integrated functions for Purchase Orders, including manual and automated Purchase Requisitions, suggested re-ordering and management functions for re-order levels.

 

 

 

 

Slide 12

Slide notes: There are Stock Transfer functions to manage movement of Stock, and these include the Immediate, the Batch Approval and the Dispatch methods.

 

 

 

 

Slide 13

Slide notes: Stock Count methods include definitive counts, perpetual counts and random sampling counts, with support for Scanner and PDA interfacing during Stock Counts. There are also automatic Stock Adjustment options available, after approval, following the results of Stock Counts.

 

 

 

 

Slide 14

Slide notes: The Stock Catalogue is interfaced and integrated to the Retail selling system, as well as to Journals for internal consumption, which include Stock Issues to Jobs and General Costing. There are also Journal options for manual Stock Adjustments.

 

 

 

 

Slide 15

Slide notes: The extensive Reporting system include flexible reporting on Control Ranges, Catalogue Management, Financial Reports and Audit Trails, Stock Measure and Bin Management. And the presence of powerful Report Writers empower you to create even further reports that you may wish to imagine.

 

 

 

 

Slide 16

Slide notes: All considered, the IES Inventory Management is extremely powerful, comprehensive and flexible.