The Inventory application area lets you keep detailed records of purchases, sales, and positive and negative transactions. Basic Inventory includes an item table and ledger to record transaction details, which you can use to provide simple pricing capabilities for inventory items. Or, if you include Sales Order and Purchase Order, you can use it as a complete inventory management system with availability controls that let you schedule each sales and purchase transaction for minimum inventory levels without compromising on customer service.

Basic Inventory

Basic Inventory lets you keep detailed records of purchases, sales, and positive and negative adjustments. Basic Inventory includes an item table and an item ledger to record transaction details. Inventory values can be based on LIFO, FIFO, Average, Specific, or Standard cost. It can be used to provide simple pricing capabilities for inventory items or, if the configuration includes Sales Order and Purchase Order, as a complete inventory management system with availability controls that let you schedule each sales and purchase transaction so that inventory arrives when you need it and not before. Basic Inventory also allows you to manage your inventory-on-hand levels. Suggested reordering can be based on minimum or maximum quantities, and also supports reordering in specific increments. Unit of measure functionality provides the ability to track different units of measure for each inventory item. This is especially important for manufacturing purposes. For example, items can be purchased in 'containers' stored in 'pieces' and sold in 'boxes'. Item Reservations functionality allows the user to reserve a specific inventory item for a sales order. Items may be reserved from inventory in stock, items on purchase order or from inventory requisitions. This feature is useful when a preferred customer needs an item and the company wants to reserve the item for that order. Item Variants are an added dimension to the inventory system. This functionality allows an item to be defined in different ways, such as by color or shape or size. You can also use Basic Inventory independently of all other Navision Financials functions - it does not have to be integrated with General Ledger.

Multiple Sales Prices

Navision Financials offers sophisticated capabilities for an unlimited number of alternative prices for inventory items. You can link the prices to individual customers to handle sales to retail customers or wholesale customers, or to cover other types of special pricing, including sales or promotions based on date. This feature also handles prices in foreign currencies if you include the Multiple Currencies option. It also handles automated price adjustments. Requires Basic Inventory.

Multiple Locations

Multiple Locations lets you keep inventory in different locations-for example, multiple warehouses or distinct areas with a warehouse. Inventory items can be purchased and sold from specific locations, and items can be moved between locations. You can analyze availability and statistics by location, a set of locations, or across all locations. Matrix windows make it easy to view inventory quantity on hand, quantity on sales order, quantity on purchase order, expected quantity on hand and available quantity on hand by location. Requires Basic Inventory.

Alternative Vendors

This feature lets you set up alternative vendors for each inventory item. Along with the vendor you can specify the vendor's part number, typical lead-time, and cost. This feature is often integrated with Requisition Management. Requires Basic Inventory.

Bill of Materials

You can use the Bill of Material feature as a simple "kitting" feature for sales and purchase orders, or you can use it to produce finished goods from raw materials through a production journal. Bill of Materials can be defined to any level, and Navision Financials includes features that allow on-line navigation through the Bill of Materials or through the Where-Used windows. Single-level explosions are provided on reports or net requirements analysis and availability planning. Requires Basic Inventory.

Inventory Groups

Inventory Groups are used to track the dollar value of inventory items rather than the quantities. It is typically used in retail establishments to keep inventory of low cost items, for example, using department keys on a cash register for tracking sales of nails and bolts. This feature lets you establish hierarchical structures of inventory groups and link items to those groups. Requires Basic Inventory.

Sales Quantity Discounts

This feature allows you set up quantity discounts as well as discounts for specific combinations of customers and inventory items.

Purchase Quantity Discounts

This feature allows you set up quantity discounts as well as discounts for specific combinations of vendors and inventory items.

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