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Anthony Etzel
/ Categories: Infor LX & BPCS Tips

BPCS/LX Tip of the Week: HOW ACCURATE IS YOUR INVENTORY?

Just a refresher on a tip I’ve shared previously from Supply Chain Technology Bulletin regarding how to attain greater inventory accuracy. I thought it would be worthwhile to share again:

  • Record data regarding your inventory as soon as the items arrive at your door / receiving dock. With information, you can make decisions. Without it, you waste money, time and effort.
  • Leverage data collection, label generation and RFID solutions to make your life easier.
  • Set inventory accuracy goals for the business and for employees.
  • Train your employees so they know what is expected of them, and how to best perform their job and therefore how best to maintain accurate inventory counts.
  • Count the inventory – and do it regularly. Find a method that works best for your employees, and for your business.

Optimize Your Manufacturing Today!

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Anthony Etzel

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Tips:  LX | BPCS | M3

1. Eliminate paper shop packet and distribution of the paperwork to the shop floor.     

2. Eliminate manual (paper-based) recording activities and the need to key in the transactions.

3. Easy electronic scheduling by sequence and changing job priorities.

4. Evaluate differences using actual times compared to standards.

5. Improve data accuracy and eliminate the need to chase and fix errors.

6. Practice Real-Time data reporting to monitor efficiencies and identify problems as they occur.

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If the item being received needs to be inspected prior to being available for use, there are two schools of thought.The first is to receive the item to a QC hold location. The downside is the item will show up in on hand inventory.

A better method would be to do a PO receipt to inspection. Both Inv500 and Pur550 support this method. Now you have received the item without showing it in inventory. Only the PO quantity in inspection is updated. This method also allows you to create an Inspection Dispatch Report. After the QC process for the item is complete, then the transaction Receipt from Inspection to Stock is processed. That transaction then updates the PO quantity received field and the Item on hand field in inventory.

 

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Tips: LN | Baan

All actions required for converting, validating, matching, and posting electronically received bank statements can be performed within a single session:

  • Bank Statement Workbench (tfcmg5610m100)
  • Bank Statement (tfcmg5610m000)

Alternatively, you can use the sequence of electronic bank statement sessions outlined below.

Steps to Process Electronic Bank Statements:

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