Stock Maintenance - An overview

Whenever logistics cycle is implemented in any site, one of the first activities is to take stock of existing stock levels of different parts. Subsequently, transactions like issue, receipt, return result in stock level increase or decrease for a part number. The stock status as well as rate/value also change with each transaction. This changes has to be updated on the stock level information. And Whenever needed, the current stock availability has to be viewed.

The capturing of the stock balance currently available in the system is another important activity. The details like zone / bin where the stock is stored and also the lot numbers and serial numbers needs to be captured. Based on the valuation type (standard cost, Wtd average, LIFO/FIFO ,Actual Cost) the rate/value of the Part is also to be entered and stored.

Getting familiar with the activities

Go to activity…	For…
Create Opening Balance	Creating opening balance
Edit Opening balance	Modifying opening balance
Authorize Opening Balance	Authorizing the opening balance
View Opening Balance	Viewing the opening balance
Create Stock Correction	Creating stock correction
Edit Stock Correction	Modifying stock correction
Authorize Stock Correction	Authorizing stock correction
View Stock Correction	Viewing stock correction
Create Standard Cost Revaluation	Creating standard cost revaluation
Edit Standard Cost Revaluation	Modifying standard cost revaluation
Authorize Standard Cost Revaluation	Authorizing standard cost revaluation
View Standard Cost Revaluation	Viewing standard cost revaluation
Inquire Part Certificate History	Inquiring part certificate history
Inspect/ Re-certify Parts	Inspecting re-certifying parts
Check Part Availability	Checking part availability
Inquire Stock Balance	Inquiring stock balance
Inquire Warehouse Stock Balance	Inquiring warehouse stock balance
Inquire Stock Balances Across Locations	Inquiring stock balances across locations
Inquire Certificate Details	Inquiring certificate details
Inquire Material Count and Location Information	Inquire Material Count and Location Information – A summary of the activity
Create Quick Code	Creating stock maintenance quick codes
Edit Quick Codes	Modifying stock maintenance quick codes
Set Options	Setting options
Set Material Inquiry Options	Setting material inquiry options
Record Part #/Serial # Change	Recording Part # or Serial # Change
Inquire/Update Part # And Serial # Change	Inquiring or Update Part # or Serial # Change
Maintain Pool Agreement	Maintaining pool agreement
Maintain Part Certificates	Maintaining part certificates
Maintain In-Transit Material Records	Maintaining In-Transit Material Records
Compute Inventory Revaluation	Computing Inventory Revaluation
Edit/View Inventory Revaluation	Editing/Viewing Inventory Revaluation
Inquire Stock Availability	Inquiring Stock Availability
Manage Tax for Inventory Transactions	Managing Tax for Inventory Transactions
Manage Part Serial Mod Details	Managing Part Serial Mod Details
View Part Supply Chain Performance	Viewing part supply chain performance
Manage Indian GST E-Way Bill	Managing Indian GST E-Way Bill
Manage Options for Additional Information	Managing options for additional information
Manage Additional Inventory Information	Managing additional inventory information