Manual Stock Transfers

September 2, 2018 in Inventory Control

Purpose

This function can be used to manually enter the details of Stock Transfers that have occurred between two Stock Locations. Once a transfer is completed using this facility the inventory items are moved out of the inventory of the issuing stock location via ‘stock transfer issue’ transactions, and into the stock on hand of the inventory in the receiving stock location via ‘stock transfer receipt’ transactions. Using this method there is no “in-transit” period where the inventory sits between the two stock locations.

This function is an immediate process with no associated paperwork. The intent of this facility is to complete a transaction for a stock transfer movement that has already occurred physically i.e. it is a post-process function used ‘after-the-fact’ to bring the perpetual inventory system back into line with what has occurred to the physical inventory. As such it would typically be used by exception only.  The Order Management functions for processing a Stock Transfer Order (with associated paperwork) would normally be the correct procedure to use when recording the transferring of stock between physical locations.

Data Input

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Step 1 – Issuing Location Code

Location

Enter an existing Stock Location. This is the location FROM which the stock is being transferred.
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Step 2 – Reference Details

Reference

Enter the reference number to be used for this stock transfer transaction.

Receiving Location

Enter an existing Stock Location. This is the location TO which the stock is being transferred.
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Step 3 – Transfer Details

The Products that are being transferred are entered in the form of a list, with the details of each product on a separate line (row). Use the ‘Add’ icon to include transfer details for a given product to the list.

Product

Enter an existing ‘Product’ for which you want to complete a stock transfer. The product must be a valid stock item i.e. it cannot be a ‘Service’ or ‘Add-On’ charge product.

Note that once a product is entered/selected, if appropriate the user is prompted to select a Size and/or Colour. This assumes these features are turned on in the Product Format function and that the product itself is sized/coloured.

Issuing Quantity On Hand

There is a display of the current ‘Quantity On Hand’ at the issuing location for the product i.e. how much is available to transfer out. Note this is the quantity ‘on hand’ only and does not include stock ‘On Pick’, ‘Reserved’, ‘Back Ordered’ or ‘Committed’ to pending orders.

Issue Quantity

Enter the ‘Issue Quantity’ to transfer out of the issuing stock location. The issue quantity must match the receipt quantity. This quantity is entered in purchase or stock units. Please refer to Quantity Input for more details on entering quantities and associated data such as Bins and Tracking details.

Receipt Quantity

Enter the ‘Receipt Quantity’ to transfer into the receiving stock location. The receipt quantity must match the issue quantity. This quantity is entered in purchase or stock units. Please refer to Quantity Input for more details on entering quantities and associated data such as Bins and Tracking details.

Transfer Cost and Value

The ‘Transfer Cost’ (inventory cost) and ‘Transfer Value’ (inter-location price) is shown on screen.  The transfer cost is calculated as the issuing stock cost x the issue quantity.

The transfer value is calculated according to the Stock Transfer Pricing Rules on the issuing location. In summary it is calculated either at cost, cost + margin %, or at standard cost, replacement cost, or standard price of a specified Price List/Price Level.
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