Realtime costing
Real-time reliable cost prices
The Inventory II module is constantly monitoring all inventory movements, resulting in immediate action upon arrival of new or changed cost prices. Cost prices are calculated, adjusted and updated throughout item transfers and bills of materials - the full costing functionality is simply executed real-time.
No traditional inventory closing function
Adjustment of item consumption is calculated and posted immediately, whenever identified, eliminating the traditional inventory closing function. Closing the inventory is then an administrative task that takes a split-second: the time it takes to update a date in the database.
Adjust anything at any time
Adjustment of on-hand levels or transactions do not require the inventory to be closed - do it any time. Furthermore Inventory II allows for adjusting issue transactions so that periods can be closed without incorrect cost price estimates.
Cost price deviation monitor
Cost price deviations are identified and presented real-time in the deviation monitor, giving the finance department a unique tool to act on. Cost price deviation alerts can be defined, reducing the risk of simple errors, such as "typo-errors" in the purchase department or from suppliers that may reside in the system for a longer period, resulting in complicated cleanup tasks.
Physical cost valuation
Inventory valuation can be fixed on packing slip prices instead of on delayed invoice prices. Upon receipt of invoices, deviations are posted on dedicated General ledger accounts.
New model for weighted average cost
A new simplified periodic average cost price model is introduced. Average cost prices are always calculated as clean weighted average prices for individual periods. Issues related to uncontrollable number of settlements are eliminated, as settlements are not created anymore.
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