The Materials Management component of the AIVA 9001 software addresses a broad range of issues around material inventory: products, inventory receipts, shipments, movements, and counts within a company, its departments, as well as to and from suppliers and customers.
A 'Product' in the AIVA 9001 system is something that can be sold and/or purchased, (or something that can be stored) and it has to have a Price. The main examples of Products in the inventory mangement software are:
· Expense Types
An 'Item' in AIVA 9001 is a physical good that can be sold. 'Services' are not restricted in terms of availability whereas 'Resources' are restricted. 'Expenses' can be billed, for example: a consultant who incurs some travel expenses can be invoiced to the customer.
· A Product can also be described as a "collection of Assets with similar attributes." One of the attributes of a product is its storage location as defined by warehouses and locators. The warehouse is the point of service.
Another attribute for Products in the AIVA 9001 system is the 'Product Category'. Product Categories enable you to group products with similar characteristics, pricing structures, accounting rules and reporting. For example, by using the controls of the AIVA 9001 business solutions software you can globally set or change a discount structure for a Product Category. All products in that category inherit the revised discount structure.
The Product Catalog organizes all of your products for simplified searching based on product attributes. For example, you may use the Product Catalog to search for all products that are "shirts," "yellow" and "short-sleeved." The Product Catalog optionally details product bills of material and substitutes.
Multiple Price Lists are supported for all purchased and sold items. AIVA 9001 business solutions software has a Purchase Price List functionality, which allows simple control of discounts from suppliers. The system provides general and customer specific sales price lists. Price Lists are date controlled to allow special sales initiatives.
Distribution and Multi-Warehouse Control
AIVA 9001 business solutions software supports multiple warehouses with user defined locations within each warehouse for recording stock locations.
Inventory movements can be effected between warehouses. Movements between warehouses can be configured to produce appropriate shipping documentation .Stock counts and stock valuation adjustments are managed by recording the difference between the book stock quantity and the count quantity and processing any difference so that sales activity in the inventory mangement software can continue in parallel with the stock take data entry process.
Stock used for internal purposes can be written-off to record the stock decrement and consequent financial entries in the Financial Ledger.
Material Receipts and Replenishment
Using the AIVA 9001 business solutions software, shipment documentation can be created individually on a per order basis. Goods received from vendors can be compared directly with the purchase order or the vendor invoice.
Material Replenishment lists are created based on inventory replenishment rules, past sales, or targeted inventory levels. Requisitions or Purchase Orders can also be automatically generated from the Material Replenishment report. Optionally, you can also replenish a warehouse from another warehouse.
Costing of Product and Services
AIVA 9001 business solutions software maintains FIFO costing method.