Associating stores with parts

Associating stores with parts enables you to specify detailed inventory information for specific parts, such as minimum stock levels and reorder quantities that determine how your company’s stock levels are maintained.

Additionally, you can also define part prices at the stock level enabling you to enter and update pricing information for each store in which the part is held.

Additionally, if you select Last in first out price (LIFO) or First in first out price (FIFO) as the Price Type for the part in the store, the system inserts a record for the part in the R5FIFO table when the part is received to stock that includes the part, price, quantity, store, and transaction date. The transaction date indicates the date the stock is inserted into inventory upon which all future LIFO/FIFO transactions for the part are based. For FIFO pricing, the system locates the record that was inserted into inventory first. For LIFO pricing, the system locates the record that was most recently inserted into inventory.

Depending on your system configuration, set the stock replenishment method for the part in stock and specify minimum and maximum quantities, a reorder level, and/or an order quantity as necessary.

The INVMETH installation parameter determines the default stock method for new parts in stock in all stores as Reorder Level (-). Modify the stock method for a part in stock in any store as necessary. If you have not modified the INVMETH parameter or do not specify a stock method for a stock record, the system automatically sets the stock method to Reorder Level.

Additionally, the system does not implement any of the stock methods for a part until you enter the information required to implement the stock method for the part. For example, if you set the stock method of a part in stock to Min/Max, you must enter a value Minimum Qty. and Maximum Qty. to implement the stock method for the part.

To associate stores with parts:

Open the Parts form.
Select the part for which to define store information, and then click the Stores tab.
Click Add Store.
Store—Enter the store for the part. The system automatically populates the store description, Store Org., Stock Date with the current system date, and Base Price with the appropriate price of the part. The system also populates Stock Value with the current value of the quantity on hand for the part using the base price of the part in stock. The system populates Credit Balance with the amount of credit associated with the part for an invoice line.

Note: Credit Balance is applied to the Average Price of the part based on the INCREDIT installation parameter upon approval of a new invoice and/or a credit or debit note applied to an invoice or an invoice line.
Core Value—Enter the core value of the part at the store level. The core value is the value of the part while it is in stock awaiting repair (for both external and internal repairs). For example, you have a part CS-ST-SPROCKET-249x284 IN part (a carbon steel skip tooth sprocket .249" x .284" thickness) valued at $200. The core value of CS-ST-SPROCKET-249x284 IN is $70. You issue one CS-ST-SPROCKET-249x284 IN valued at $200 to a piece of equipment. You also return one CS-ST-SPROCKET-249x284 IN taken off of the piece of equipment for repair. Because the CS-ST-SPROCKET-249x284 IN must be sent to the machine shop for repair, the system does not issue an inventory credit of $200. Instead, the system issues a credit of the $70 core value to your inventory.
Stock Class—Enter the stock class for the part.
Preferred Supplier—Enter the preferred supplier for the part.
Preferred Store—Enter the preferred store for the part.

Note: You cannot enter a value for both Preferred Supplier and Preferred Store. Preferred Supplier and Preferred Store are both used for automatically generating requisitions from low stock to provide different information for the requisition. Entering a Preferred Supplier for the part in store indicates that the requisition type for the part is Goods Requested. Entering a Preferred Store indicates that the requisition type for the part in store is a Store-to-Store transfer.
Lead Time (Days)—Enter the average number of days that the store needs to provide the part. The Lead Time (Days) indicates a number of days that are needed internally for inventory deliveries or transfers of the part from the store. Lead Time (Days) is only used for store-to-store requisitions.

Note: You can also enter Lead Time (Days) on the Record View page of the Stores form. The setting of Lead Time (Days) on the Stores page of the Parts form overrides the setting of Lead Time (Days) on the Record View page of the Stores form.
ABC Class—Select the class (A, B, or C) with which to associate the stock items. The system uses this information to perform ABC analysis.
Stock Method—Select one of the following stock method types:
- Min/Max—Select to replenish low stock based on a specified minimum and maximum quantity of a part to keep in stock. When the quantity of a part in stock reaches a level that is less than the specified minimum level, the system reorders the necessary quantity of the part to replenish the quantity to the specified maximum level.
  Reorder Level and Order Qty. are read-only when Stock Method is Min/Max.
- Reorder Level—Select to replenish low stock based on a specified reorder level and order quantity. When the quantity of a part in stock reaches the reorder level, the system reorders the part in increments of the specified order quantity until the quantity of the part in stock reaches a level that is greater than or equal to the reorder level.
  Maximum Qty. is read-only when Stock Method is Reorder Level.
- On Demand—Select to replenish low stock only when there is a demand for it on a work order or store-to-store requisition.
  Reorder Level and Maximum Qty. are read-only when Stock Method is On Demand.
- Reorder Level—Enter the quantity at which the system is to reorder the part. The value entered for Reorder Level specifies the quantity of a part that, when reached, triggers a purchase action for acquiring more of that part.
Prevent Issue from Default Return Bin—Select this checkbox to prevent the part from being issued from the default return bin.
Order Qty.—Enter the standard quantity of this part ordered at one time.
Condition—Enter the condition if the part is a condition tracked parent part. The system automatically populates Part and Part Org. If the part is a condition tracked child part, the system automatically populates Condition,Part, and Part Org.

Note: If the asterisk (*) condition is entered, store records will be created for each condition tracked child associated with the part. Also, the system will automatically populate Part and Part Org. for each store record with the values of the condition tracked child part and part org. The condition for each store record will be the same as the condition for each condition tracked child. If the condition entered is not an asterisk (*), Part and Part Org. will be automatically populated with the part and part org. of the child part condition associated with the selected condition.
Conditions to Include in Reorder—Enter the conditions to include when the part is reordered if the part is tracked by condition. Only Qty. on Hand for part conditions listed in the Conditions to Include in Reorderwill be considered.
Record Stockouts—Select to enable the system to create a record of the part, store, and date on which the inventory level for this part reached zero. You can view this information on a separate form.
Label Printer—Enter the default printer for printing barcode labels.
Label Template (Issue)—Enter the default label template for printing barcode labels for issues.
Label Template (Receipt)—Enter the default label template for printing barcode labels for purchase order receipts.
Label Printing Default—Select the default method for printing labels when the part is received to the selected store.
Default Bin—Enter the default bin for the part. The system automatically populates the Default Bin Qty. with the quantity of the parts located in the selected bin.
Label Template (Non-PO Receipt)—Enter the default label template for printing barcode labels for non-purchase order receipts.
Label Template (Core Return)—Enter the default label template for printing barcode labels for core returns.
Click Submit.

Note: To delete a store, select the store to delete, and then click Delete Store. You cannot delete a store associated with a part if a stock record exists for the part in that store.
Click Add/Edit Comments to enter comments.

To add, edit, view, or associate a document to the STOC entity, click Add/Edit Documents. See "Viewing and Modifying Associated Documents," "Defining Documents," or "Uploading Documents."