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Inventory adjustments
- 1. Inventory Adjustments A Capstone Project By daryn cherry
- 2. biggest
- 3. big deal? “I don't know how to put this… But I'm kind of a big deal.”
- 4. ensure GOOD Customer Service Inventory Productivity ROI Accurate accounting of inventory quantities and cost Prevents large year end write downs
- 5. of adjustments Cycle Count Defective Loss Obsolete Loss Inventory Receipt Corrections Average Cost Misc. Adjustments
- 7. Designating Access IN WISE: Screen #15 Screen #20 Screen #17
- 9. find
- 10. happen Screen #7 – Inventory Management Screen #13 – Entry Inv. Adjustment Select type of adjustment
- 12. Cycle Count
- 13. Option Cycle counts Adjust quantities when cause can’t be explained Enter correct on hand qty in “Count” field and Item # in “Item” field – press enter to calculate F10 to provide a description F9 to process
- 14. loss
- 15. Aka total loss
- 16. Not to be confused with… Defective loss fail
- 17. Defective loss Inventory that is damaged and can’t be sold or sent back to the vendor Provide detailed explanation Option Press F9 to get reference # Press F9 again to process
- 18. Obsolete Loss
- 19. BuY from wss 2% 60 Days $3000 FFA Buy 1 item at 300 pt price Place over 40 vendors on 1 P.O.
- 20. Option Obsolete loss Item in good condition but not generating any sales volume Creates a carrying cost Once removed from inventory, physically remove it from warehouse Will need vendor # and short explanation F9 twice
- 22. Inventory Receipt Correction Adjust quantity received Option Does NOT post to mainframe + increases inventory - decreases inventory Do not duplicate in VIR
- 23. Average cost adjustment Use for receiving or VIR errors Option Qty to Adjust – Enter the qty of items that need their avg cost adjusted Incorrect Cost – Enter the avg cost that needs adjusted New Cost – Enter the correct avg cost
- 24. Miscellaneous adjustment Option Use F4 key to prompt Most entered as – Free goods = + Categories: Donation, Free Goods, Samples, Sales Promo, Theft, Warehouse Use
- 25. Donations Dollar amount Approval $1000-2000 AC/AL $2000-5000 AC/AL & Regional VP Over $5000 Board Action
- 26. Inventory adjustments inquiry Look for trends Option View specific items Get item history
- 27. Inventory reports menu Option 1 Defective Loss by Vendor 2 Obsolete Loss by Vendor 9 Adjustments Report by Date
- 28. Profit & Loss Statements
- 29. Keep in mind 1% or more in 1 month is adjusted… written board approval is needed
- 30. Don’t forget GOOD Customer Service Inventory Productivity ROI Accurate accounting of inventory quantities and cost Prevents large year end write downs
- 31. THE END THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU