29 Apr Dynamics GP Inventory Control
Dynamics GP Inventory Control functionality provides two basic benefits. It allows your to accurately account for and control item quantities within your organization. It also accurately values inventory in your organization.
The Dynamics GP Inventory Control module is well integrated within GP. In fact it, for the most part, it works behind the scene; receiving transactions from the Purchase Order Processing and Sales Order Processing modules, as well as the Manufacturing modules.
These are some of the features related to quantity tracking:
- You can maintain an unlimited number of inventory sites
- There are different quantity types that can be used to classify different states of items
These are the inventory valuation options:
- FIFO Actual
- LIFO Actual
- Average Cost
- Standard Cost
- Serial / Lot tracking
This is the main item master file entry/edit screen:
It’s useful to assign inventory class IDs to your items. This makes for easier reporting and maintenance.
There is also fairly decent pricing schedules built into the inventory module that the Sales Order Processing module uses. You can specify price based on a list price, cost, or specific value. You can set up different pricing groups to assign to one or more customers. You can specify different prices for different units of measure, e.g. each, box, case, pallet. You can also specify prices in additional currencies.
The Dynamics GP Inventory Control module includes a handy Cycle Count tool that will greatly lighten your physical count chores. It allows you to grade your inventory in an ABC fashion and then use that grading to schedule cycle count into the future. Here’s a great video about cycle counting I recently came across.
Here’s a video I created that shows the Inventory Control module in action: