BPCS/LX TIP OF THE WEEK: INVENTORY MANAGEMENT
Establishing the Quantity On-Hand and the Quantity Available.
LX maintains buckets for information associated with the following inventory transactions for each item:
- Opening Balance
- Issues
- Receipts
- Adjustments
- Allocations for the Customer
- Allocations for Manufacturing
The on hand quantity does not include any allocations. To arrive at the on hand quantity, start with the opening balance, less any issues, plus any receipts, then add or subtract any adjustments. Available inventory is the on-hand less any allocations.