Inventories and Stock In/Out Management

Inventory Management is to manage physical goods. They can be produced products, work-in-progress, assemblies, or purchased raw materials, parts, etc. Raw material, work-in-progress, parts, assemblies are usually used to produce products. Parts and assemblies can be used to support operations, such as maintenance and repairing. They can also be used for customer product services, such as post-sales finished goods services and spare parts sales.

LogixPath Inventory Management subsystem helps businesses to efficiently track inventory stock locations and quantities, and their movements, such as moving stocks into an inventory or removing them from an inventory. It provides tools, such as barcode or QR code scanning, to quickly search stocks by part number, stock code, barcode, etc.

Inventory Management

Feature Highlights:

  • Define Inventories
  • Stock Tracking
  • Add Stocks into Inventory
  • Remove Stocks from Inventory
  • Inventory Cycle Counting

Functionality Highlights

Define Inventories and Characteristics

Inventory: Inventories are actual physical stocks stored in one or multiple locations. Their functionalities can be:

  • Used to produce products, such as raw materials, parts, and work-in-process items.
  • Used to support production and operation activities, such as used for equipment maintenance and repairing, and operating supplies.
  • Used to perform customer services, such as post-sales product services and spare parts sales.

Stock Master Data:

One product can have multiple inventories for the different purpose, such as parts for producing new products or parts for repairing existing products. These inventories may have different Inventory Level Thresholds Parameters.

LogixPath software uses Stock Master Data concept to allow users to define different purposed inventories. Stock Master Data defines the characteristics of an inventory, such as Product, physical good dimension/size, Inventory Level Thresholds Parameters, Shelf Life Span and expiration warning level settings. An inventory associates to one Stock Master Data to define its characteristics.

Multiple Inventory Locations: Each inventory can have one or more locations. The inventory move in/out, counting, and stock level plotting supports multi-location inventory.

Stock Tracking

The software tracks inventory stock locations and quantities. It provides tools to quickly search stocks by part number, stock code, barcode, etc.

For Food, Bio-Chemical, and Pharmaceutical industries, Stock Expiration Date management is vital. LogixPath software lets users to record stock expiration dates of the Purchased Batches, Produced Batches, and Inventory stocks. It provides search tools to easily find stocks which are expired or will be expired soon.

Here are some capability highlights:

  • Enable user to define multiple sets of stock management parameters per product
  • Tracking, searching and displaying inventory stocks
  • Use a serial number or lot number to search and display a stock's life cycle
  • Scan Barcode or QR Code to search for an inventory using LogixPath Mobile App
  • Providing stock level warning when it is below the user defined threshold
  • Plotting inventory level over a time period

Inventory Activities Tracking

For each inventory, you can record and track stock move in and out activities and perform the stock cycle counting. The system displays all these activities according to timeline. For each activity, it displays stock in/out quantity and the result stock quantity balance in the inventory. The system also plot the inventory level along the timeline based on these activities. Here are some capability highlights::

  • Managing inventory stock In and Out activities
  • Recording inventory stock cycle counting
  • Display inventory stock in, out, counting activities in the chronicle order and the resulting stock count

Inventory level

System calculates current inventory level based on the Inventory In/Out/Count activities. Each inventory counting resets the inventory level to that quantity. System dynamically calculates and plots inventory level over timeline diagram for a particular inventory.

Sample Inventory Screen

Inventory Management

Inventory Move Activities and Cycle Counting