Inventory Control

MasterTools Inventory Control Module

The inventory module tracks all stock item activity and is the core of the distribution and manufacturing functions within MasterTools. Information for both stock (items existing in the master files) and non-stock items is found here. Transactions include inventory adjustments, bin transfers, and physical inventory.

Physical Inventory and/or cycle counts can be taken utilizing a variety of methods including pre-tagging, physical inventory worksheet, manual tags or portable scanners. The process involves taking a “snapshot” of the inventory, applying physical counts, analyzing variance reports, and then automatically creating adjustments.

Non-stock items are items that are tracked outside of your item master record. A non-stock record is automatically created upon receipt of a non-stock item, or a work order close of a non-stock item. Non-stock items are then linked to the demand document (sales order or work order requesting item) and the supplying document (receipt or work order close). At any point, the status of a non-stock item that has been received, but not distributed, is accessible.

Additional Features

  • Define Item Attributes
  • Manage Multiple Barcodes
  • Cost Items Using FIFO, LIFO, Average, Standard, or Specific Identification
  • Bar Code Inventory and Bin Labels
  • Convert Item Units of Measure
  • Track Quantities at the Bin Level
  • Price Items According to Customer, Customer Class, Item Class, Effective Dates, Quantity Breaks, Discount on List, Markup on Cost
  • Cross-Reference Item ID's with Substitute, Complimentary, and Customer Item ID's
  • Maintain Vendor Price Lists Separate from Item Master
  • Define Item Conditions (I.E., New, Used, Overhauled, Consignment)

Reports Include

  • Valuation
  • Item Usage
  • Price Versus Cost
  • Standard Cost
  • Availability
  • Turnover
  • Reorder
  • Trial Balance
  • Serial # / Lot # Register