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1. |
Complete all adjustments and run Adjustments Register. All adjustments, item repackaging and quick item transfers should be entered. The user should print and update the last Adjustments Register for the period to ensure the inventory quantities and figures are accurate. |
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2. |
Confirm all transfers and print/update Shipment and Receiving registers. All shipments being sent out or received into a warehouse should be confirmed. The user should print and update the last Shipment Register (shipments being sent out) and Receiving Register (shipments being received in) for the period to ensure the inventory quantities and figures are accurate. |
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3. |
Run Stock Status Report. This report allows the user to obtain a report of the status (quantity) and valuation (cost and extension) of items by warehouse. This report provides end-of-period inventory figures. (The report is optional.) |
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4. |
Print Item Ledgercard Listing. If item ledgercards are used, this program provides the user with a list of all transactions that have occurred for warehouse/item combinations. These transactions will be removed by the Item Ledgercard Removal (#7). It is recommended that a hard copy be saved for future reference. |
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5. |
Print Item Activity Report. This report provides the user with a list of each item’s activity in a warehouse for the period. This report is not required; however, the information for the period is not available after the End-of-Period Update is run. |
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6. |
Print Serial/Lot Number Removal Register. This register allows the user to obtain a list of all serial/lot numbers which have an on-hand quantity of zero and an available flag. After the register prints, the user should remove the records just printed to cleanup the file. If records are not removed, they will appear on next period’s register. All Serial/Lot Number Removal Registers should be kept as an audit trail. |
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7. |
Run Item Ledgercard Removal. If item ledgercards are used, this program is run to remove ledgercard information. The user determines the number of ledgercards to keep and the cutoff date through which to remove ledgercard information. |
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8. |
Run End-of-Period Update. This program should only be run after all of the above procedures are complete. This program updates period information and resets restocking information while flagging necessary items. The current IC period is closed. Before processing begins for the new (current) period steps 9-11 should be complete for accurate inventory control. |
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9. |
Print Flagged Item Report. This report allows the user to obtain a list of all items flagged by the End-of-Period Update. This report is to be used as a tool for Step 10, adjusting flagged items. |
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10. |
Adjust Flagged Items. From the Flagged Item Report, users determine whether to place frozen controls on an item or enter qualified usage and average lead times. Through the Warehouse/Item F/M, users may enter frozen controls (through the restocking screen). Users may enter qualified usage for the period and average lead time quickly through the Item Flag/Restocking Reset Program. Users may also enter qualified usage and average lead time through the Warehouse/Item F/M. |