Recording Planning Details tab for quick parts

Select the “Planning Details” tab in the "Create Quick Parts" page.
Enter the following fields in the “Planning Information” group box.

Valuation Method	Use the drop-down list box to select the method in which the costing of the part is done at an inventory location.
	Standard Cost – indicates that the receipts and the issues of a part are always made at the standard cost. In case the unit rate of the part is different from its standard rate, the difference between the rates is posted as price variance of the part.
	Weight Average Rate – indicates that the issue rate is calculated as the average of receipt values divided by the receipt quantity.
	LIFO (Last In First Out) - indicates that the parts are issued at the latest price. Issues thereafter are made at previous prices. A strict chronological order is followed
	FIFO (First In First Out) – indicates that the parts are issued at the earliest receipt prices. Issues thereafter are made at recent prices. A strict chronological order is followed.
	Actual Cost – indicates that the receipts and issues of a part are always made at the actual cost. You must select this value only for parts which are either ‘serial controlled’ or ‘lot controlled’ or both ‘serial and lot controlled’.
	The system displays “Standard Cost” by default. Data selection is mandatory.

Note: You cannot modify this field if stock balance is available for the part in any of the warehouses. Note: This field can be set to Actual Cost only if the part number is serial or lot or lot and serial controlled.
Planning Status	Use the drop-down list box to set the inventory status of the part. Mandatory.
	Fresh – Select this status if the planning details have not been incorporated completely.
	Active – Select this status if the planning details have been incorporated completely.
	The system displays “Active” by default.
Expensing Policy	Use the drop-down list box to specify the expensing policy defined for the part. The system lists the following options, if no value is selected in the “Parts Expense Basis” drop-down list box in the “Set Options” activity of the “Stock Maintenance” business component: On First Issue – Select this option to indicate that on first issue, the cost of the part will be expensed off. On Phase Out - Select this option to indicate that on phase out, the cost of the part will be cleared off. Core value on Phase Out – Select this option to indicate that the time life costing parts will become phased out or obsolete when the core value is cleared off. On Receipt - Select this option to indicate that on receipt, the cost of the part will be cleared off. Select this option for non-stockable items. The system ensures that this field is not selected for parts with Expense Type as “Capital” The system (i) displays "On First Issue" if the “Parts Expense Basis” drop-down list box is set as is "Expense at First Issue", (ii) displays “On-Phase Out" if the “Parts Expense Basis” drop-down list box is set as "Expense at Retirement" and (iii) displays “On Receipt” if the “Non-Stockable” field is set as “Yes”. The system leaves the field blank, by default.
Note: Ensure that a value is selected in this field, on clicking the “Create Part Information” pushbutton. Note: If the “Expensing Policy" is set as "Core Value on Phase Out", the system ensures the following: the “Expense Type” is set as “Revenue” in the current business component. the “Sl No Controlled” check box in the “Edit Main Information” page of the current business component, is checked. the valuation method for the part is set to “Actual Cost”.
Replenishment Activity by	Use the drop-down list box to select the procedure in which the part must be reordered. The replenishment activity can be based on the “PO” (Purchase Order), “PR” (Purchase Request), or “Stock Transfer”. The system displays “None” by default.

Note: Ensure the following:

If the planning type is selected as “Reorder Level”, the option “None” is not selected.

If the planning type is selected as “Reorder Level” and the source of the part is other than “Purchase”, the options “PO” or “PR” are not selected.

If the planning type is "Min-max” or “None”, “None” is selected in the above drop-down list box.

Replenishment Activity at

Use the drop-down list box to select either "Warehouse" or "Location". The option “None” is also available. If the planning type is selected as “Reorder Level”, “Min-Max”, the option “None” must not be selected.

Note that Replenishment Levels need to be individually defined for specific warehouses and parts as required in “Storage Administration” business component.

Minimum Qty

The minimum quantity of the part to be held in stock at any point of time (Decimal).

Note: This field must be left blank, if “Planning Type” is set as “Disposition”, “Reorder Level” or “None”.

Maximum Qty

The maximum quantity of the part to be held in stock at any point of time (Decimal).

Note: This field must be left blank, if “Planning Type” is set as “Disposition”, “Reorder Level” or “None”.

This field must be greater than the “Minimum Qty”, if “Planning Type” is set as “Min-max”.

Reorder Level

A fixed quantity level of the part (below which, the purchase activity is automatically initiated by the system (Decimal).

Note: This field must be left blank, if “Planning Type” is set as “Disposition”, “Min-Max” or “None”.

This field must be greater than “Safety Stock”, if “Planning Type” is set as “Reorder Level”.

Reorder Qty

The quantity for which the order must be placed, when the reorder level is reached (Decimal).

Note: This field must be left blank, if “Planning Type” is set as “Disposition”, “Min-max” or “None”.

Minimum Issue Qty	The minimum quantity that can be issued from a warehouse at a location (Decimal).
Safety Stock	The quantity of the item that is stored in the location to meet the consumption rate fluctuations (Integer). The safety stock must be lesser than the reorder level. Ensure that the value entered is greater than or equal to zero.
Avg. Transfer Lead Time	The average transfer lead time (Decimal).
Lead Time Unit	Use the drop-down list box to select the lead time unit which could be “Days”, “Weeks”, “Months” and “Years”. You can leave this field blank if you do not wish to specify the lead time unit.

Note: This field can be modified if no stock is available for the part number in the “Stock Maintenance” business component.

Reservation Horizon (days)

The number of days for which the part can be reserved for supply (Integer).

This field must be entered only for parts of type “Disposition”.

Note: The value in this field must be greater than zero, if the “Planning Type” of the part is set as “Disposition”. Leave the field blank, if the “Planning Type” is “Reorder Level”, “Min – Max” or “None”.

Allocation Horizon (days)

The number of days for which the part can be hard allocated (Integer)

This field must be entered only when you have checked the “Allocable” box. If you leave this field blank, the system takes the allocation horizon as NULL.

Enter the following fields in the “Others" group box:

Allocable	Check this box to indicate that the part can be hard allocated. Hard Allocation refers to the locking of the part for issue transaction. This ensures that the part is available for issue at the time it is required during a day. This box can be checked only for non-dispositionable parts.
Back Flushing Required	Check this box to indicate that the part is a back flushable item. Back flushing means that the inventory stock is reduced, based on the production count of the assemblies produced.
Hazardous	Check this box to indicate that the part is dangerous while handling.
QC Clearance Required	Check this box to indicate that the part requires a quality control clearance.
On Warranty	Check this box to indicate that the part is under warranty.
Storage Allocation Mandatory	Check this box to indicate that the special storage facility is mandatory for the part.

Enter the following fields in the “Scrap Info" group box:

Scrap Note Process

Use the drop-down list box to select the mode of generation of the scrap note. The system displays the following options:

Auto Initiation – Select this option when the scrap note should be automatically generated.
Manual – Select this option when the scrap note should be created manually from the Scrap Note business component.
Not Applicable – Select this option when the scrap note is not required for the part.

Action on Phase-Out

Use the drop-down list box to select the action to be taken on the part when the part is declared as “Phased-out”. This option is applicable only if Scrap Note Process is set as Not Applicable.

Generate PR – Select this option if a purchase request should automatically be generated, when the condition of a part is declared as “Phased Out”.
None – Select this option if no action should be taken, when the condition of a part is declared as “Phased Out”.

To proceed

Select the “Basic Details” tab to record the main details of the part.
Select the “Maintenance Details” tab to record the maintenance details for the part.

Select the “Purchase and Sales Information” tab to record the purchase and sales information for the part.

Select the “Usage, Source and Storage Details” tab to record the warehouse details for the part .