Description and Purpose
When dealing with inventory, you must know where your items are located. In the past, each commodity would have a location section to enter the BIN and such. If the commodity was placed in multiple locations, then the commodity would have to be duplicated and a new location added.
With the update, each Commodity now has a “Child Component” section (tab) called Location. This is similar to how each Vendor line on a Payables transaction must have at least one Accounting Line. Every commodity must now have at least one Location. This new Location tab contains the same location information as in the past, however, you can create multiple location entries for a single commodity so instead of multiple commodity entries, each for a single location you have one commodity entry that can contain all the locations.
Process/Instructions
Almost all Inventory transactions are being restructured to include the Location tab. For this training, we will focus on the INVN or the basic Inventory Maintenance page. First start by searching the warehouse and stock item.
Your search results will show below. Click on the three-dot menu on the end of the line.
Here you will be presented with a few options:
- View will let you look into the entry but not make any changes.
- Edit will allow you to modify it.
- Copy will create another identical issue from which you can then make changes. This was useful when you had to use a different commodity entry for each location but with the change in with the Location Tab.
- Delete allows you to remove the stock item.
Either View or Edit will display the information.
The Main Tab shows information about the item, but not the counts. That is found on the LOCATION tab.
Note: On the main tab is a location section that includes the Default Location Structure and Default Inventory Location. This is not where you will enter the actual location. Go to the Location Tab.
The Location tab can have one or more lines associated with it. Here we see one line. It lets us know the priority (91), the Location (BARN) and the BIN. It also let’s us know the count of the item is at that location.
If there is more than one location for that item, you will see more than one line on the location tab.
The priority tells FINET where to pick from if there are quantities in each location.
If you want to know more about the specific location, copy the location code and then go to ILOC for enhanced location details.
The new Location Tab can be found on the following transactions.
- Receiver (RC)
- Stock Issue Confirmation (CI)
- Over the Counter Stock Issue (OC)
- Transfer Issue (TI)
- Transfer Receipt (TR)
- Stock Return (SN)
For these transactions, the Location page will always be a CHILD component of the Commodity.
In the CI, as in other transactions, you will notice the Item Location tab located next to the Commodity tab. Here there are three commodities and each commodity has its own Item Location tab.
Remember, that the Item Location is a child component of the commodity. The commodity line must be created before the location can be added. When you have multiple commodities, you must click on the desired commodity line before clicking on the Item Location tab to assure you are on the location connected to the specific commodity.
When the line is expanded you can see additional information including the PI reference transaction.
From here you can see specific information regarding the stock item at each location including the Quantity and where that quantity is residing.
The reference to the pick list helps you know when it happened with the time stamp.