The Stock -> Inventory section contains an overview of all items inventory levels in stock and allows to update the inventory levels after a stocktake.
The Stock -> Inventory page allows
- updating current inventory quantities (for the current date only),
- seeing the inventory levels of each item on any historical date,
- uploading a CSV file with new inventory levels and costs,
- seeing the number of items that were consumed in unfinished production (WIP) on any historical date.
- Demo video: Setting up inventory levels.
- Enter initial inventory values.
- Adjust inventory levels.
- Tips, tricks, and warnings.
- Check historical inventory levels.
- WIP (Work in Progress) values meaning.
- Use this function with caution. Changing inventory values at Stock -> Inventory can terminate existing bookings and, as an extension, break stock history.
- Back up your database before entering new quantities.
- If inventory count values differ, reasons need to be investigated carefully.
- It is not possible to change historical inventory levels. Only the inventory levels of the current date can be updated.
For any historical date, at Stock -> Inventory, it is possible to see:
- the total "In stock" quantity of every item,
- the quantity which had been consumed in unfinished production,
- the inventory value.
NB! It is not possible to change historical inventory levels. Only the inventory levels of the current date can be updated.
- Where to adjust inventory levels.
- Update inventory at Stock -> Inventory.
- Manually update a stock lot quantity.
When making a physical inventory count, stock levels for items can be adjusted:
- At Stock -> Inventory to have MRPeasy automatically create stock lots or write-offs.
- At Stock -> Stock lots by creating new stock lots to add new items.
- at Stock -> Write-offs by writing off extra items.
Generally, the Stock -> Stock lots and Stock -> Write-offs should be preferred when inventory values differ because these allow manually setting all the variables, choosing the stock lots, entering comments, or using special write-off codes. The Stock -> Inventory page creates stock lots and write-offs automatically.
For updating the stock levels:
- Choose the current date.
- Choose the Site, if you have several warehouses.
- Choose the Location, if you wish to update inventory levels only in a particular location, e.g. shelf.
Or choose the By location value to see and update each storage location separately.
By default, the software shows locations where an item exists or existed before. If you want to see all possible locations, find the item by the part number or description.
- Enter the new total quantity.
- Click Save or Save all.
- A new stock lot is created.
- The new stock lot will have the same cost per unit as the latest stock lot of the same item.
- If this item has not been in stock previously, the vendor's price will be used. If the item has several purchase terms, the price with the highest priority will be used.
- If the item has neither previous stock lots nor purchase terms, the software will ask to enter the cost manually.
If the new quantity for an item is smaller than the previous quantity:
- A new write-off is created from existing stock lots in status Received, by FIFO (FEFO, if expiry dates are used).
- First, the software tries to write off items that are available, not reserved.
- If more items should be written off than is available at the stock, then software tries to cancel bookings by LIFO until it is possible to create a write-off.
If you have labeled your physical products with stock lot numbers, and the quantities do not match in stock and in the software, this can mean one of the following:
- Some actions are not yet reported in the software (materials are used in manufacturing, but not yet reported consumed).
- Stock lot's source document is incorrect (e.g. PO or MO quantity is wrong).
- Consumption actions are reported incorrectly (e.g. materials in MO are consumed in the wrong quantity or from the wrong lot).
To correct a stock lot quantity, there are two options:
- Find the root cause, and correct the wrong document in the software (e.g. correct a wrong consumption in an MO).
- Make an adjustment:
- for a negative adjustment, create a write-off.
- for a positive adjustment, create a new manual stock lot. Number it accordingly (e.g. take the original lot number and add a suffix) and re-label the physical item.
The column WIP quantity shows the number of raw materials that have been consumed for manufacturing orders, which are still in progress.
The column WIP cost shows the cost of materials in work in progress.
At the moment when materials are marked as consumed in production, they are moved to Work in Progress (WIP) Inventory. When the Manufacturing Order is finished, the WIP is cleared (the value is counted in the cost of the finished products).
There are several ways of entering initial inventory levels:
- At Stock -> Items -> Import from CSV. Together with the initial article creation upload, it's possible to include the quantities and net costs.
From there it not possible to upload inventory at particular locations or sites.
Read: How to import articles?;
- Stock -> Inventory (-> Import from CSV). It is possible to update or initiate inventory levels. It's also possible to upload a CSV file - it's possible to import both quantities and costs, at several sites and locations.
Read: How to import inventory levels?;
- Stock -> Stock Lots -> Add a stock lot or Import from CSV. It is possible to manually create stock lots (batches). Caution: use this in case of critical need only.
- Procurement -> Purchase orders -> Add new Purchase Order. Fill out a PO and mark its arrival date to mark it received.
- Last but not least - here is demo-video: /demo-videos/entering-parts-and-products/