Inventory Management


Published on

Published in: Economy & Finance, Technology
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide
  • Inventory Management

    1. 1. Exploring Inventory Features to Maximize Inventory Management
    2. 2. <ul><li>Benefits and Importance of Inventory management </li></ul><ul><li>X3 Tools and Features for Inventory Control </li></ul><ul><ul><ul><li>Stock parts - Set up and management </li></ul></ul></ul><ul><ul><ul><li>Multiple Inventory Locations </li></ul></ul></ul><ul><ul><ul><li>Inventory Valuation </li></ul></ul></ul><ul><ul><ul><li>Mobile Inventory Control </li></ul></ul></ul><ul><li>Using Reports for Better Inventory Management </li></ul><ul><li>Options for Integration </li></ul>
    3. 3. <ul><li>Organized stock room(s) </li></ul><ul><li>All parts are accounted for in X3 </li></ul><ul><li>All transactions recorded in X3 </li></ul>
    4. 4. <ul><li>Cut downtime with accurate inventories </li></ul><ul><li>Minimize expedited shipping costs </li></ul><ul><li>Optimize the on-hand level of parts </li></ul><ul><li>Identify and leverage quantity buying power </li></ul>
    5. 5. <ul><li>Reduce expedited shipping costs – it is not unusual for expedited shipping on one part to exceed $500. If this happens only once every 2 weeks, that is $13,000 a year wasted on shipping. </li></ul><ul><li>According to Maintenance Planning, Scheduling, and Coordination  By Don Nyman and Joel Levitt, up to 25% of equipment downtime is due to lack of parts and materials on hand. </li></ul>Benefits You Can Realize
    6. 6. X3 Tools and Features
    7. 7. <ul><li>Getting to Know the Fields Needed to Activate Your Stock Inventory </li></ul>
    8. 8. <ul><li>Using the Parts Re-Order List </li></ul>
    9. 9. <ul><li>Using the Stock Requisitions </li></ul>
    10. 10. <ul><li>Setting Up Email Notification </li></ul>
    11. 12. <ul><li>What are the Benefits? </li></ul><ul><ul><li>Centralized multiple storeroom management </li></ul></ul><ul><ul><li>Ability to easily share information between locations </li></ul></ul>
    12. 13. <ul><li>Managing the Storeroom Locations </li></ul>
    13. 14. <ul><li>Parts File– What Changes? </li></ul>
    14. 15. <ul><li>Re-order process– What Changes? </li></ul><ul><ul><li>Requisitioning is installed and used for stock reordering </li></ul></ul><ul><ul><ul><li>Opportunity to verify needs before ordering </li></ul></ul></ul><ul><ul><ul><li>Ability to transfer between locations to avoid over-purchasing </li></ul></ul></ul>
    15. 16. <ul><li>Charging to Work Orders– What Changes? </li></ul><ul><ul><li>Must select source storeroom location for charge out </li></ul></ul>
    16. 17. <ul><li>Standard </li></ul><ul><ul><li>Default value method in X3 </li></ul></ul><ul><ul><li>Values each part at its last cost, regardless of history </li></ul></ul><ul><ul><li>Current On Hand x Current Item Cost = Total Value </li></ul></ul>
    17. 18. <ul><ul><li>FIFO - “First In, First Out” </li></ul></ul><ul><ul><ul><li>The items brought into the inventory first are the first items to be charged out </li></ul></ul></ul><ul><ul><ul><li>Gives a better indication of the ending inventory value if the items are rotated </li></ul></ul></ul><ul><ul><ul><li>Beneficial because it minimizes the accounting cost of parts charges in a given time period. </li></ul></ul></ul>
    18. 19. <ul><ul><li>LIFO – “Last In, First Out” </li></ul></ul><ul><ul><ul><li>The items brought into the inventory most recently are the first items to be charged out </li></ul></ul></ul><ul><ul><ul><li>Better indication of ending inventory if the items are not rotated </li></ul></ul></ul><ul><ul><ul><li>Beneficial because it minimizes the accounting cost of parts on hand in a given time period. </li></ul></ul></ul>
    19. 20. <ul><ul><li>LIFO or FIFO can be activated in any inventory. Contact support for more information. </li></ul></ul>
    20. 21. <ul><li>What changes in the Charge-out Process? </li></ul><ul><ul><li>Items are assigned a LIFO or FIFO quantity </li></ul></ul><ul><ul><li>Based on the method chosen, charges are deducted from either the top or the bottom of the history </li></ul></ul>
    21. 22. <ul><li>History View: </li></ul>
    22. 23. <ul><li>Charge to Work Order: </li></ul>
    23. 24. <ul><li>History View After Charge: </li></ul>
    24. 25. <ul><li>How do find the total value of the inventory? </li></ul>
    25. 26. <ul><li>eMaint MX Online </li></ul><ul><li>eMaint MX Batch </li></ul>
    26. 27. Reporting Options
    27. 28. <ul><li>Count Sheets / Cycle Counts </li></ul><ul><ul><li>Parts Issued > 5 times in the last 12 months </li></ul></ul><ul><li>Printing Reports with Associated Bar Codes </li></ul><ul><li>Slow Movers Report (items with low usage) </li></ul><ul><li>Problem Children Report </li></ul>
    28. 31. <ul><li>Interfacing between applications can be as simple as importing data from one application to another or as complex as real-time data processing between applications. </li></ul><ul><li>Every integration project is defined according to the individual functional requirements of each customer. </li></ul><ul><li>eMaint can develop the functional and technical specification for the project, or design the interface based on your specs. </li></ul>
    29. 32. <ul><li>New Mather Metals </li></ul><ul><ul><li>Integrated VISUAL Manufacturing® Purchase Order Process with eMaint X3 in June 2007 </li></ul></ul><ul><ul><li>Communication between X3 and VISUAL includes Purchase Orders and Maintenance Contacts </li></ul></ul><ul><ul><li>Completely behind the scenes; no user action required </li></ul></ul>