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Inventory Management

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by sales

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Which one is right and more preferable between?

1. Real time Inventory data entry in Production
Inventory must be available or entered in the system before production can run/consume.

2. Delayed Inventory data entry in Production
Inventory and Production journals will be posted/entered later, although the physical inventory are being run/consumed in production.

2 replies

by tony hopkinson

If you need to plan your production schedule, you need to know what stock is available.

If you want to plan your stock purchases, to optimise cashflow, and keep stock at a practical minimum, you need real time data.

Of course that does not just mean current stock, but current stock - minus planned usage + expected purchase.

For option two to be reasonable effective, you need a very small number of products, a malleable order book, and pretty loose delivery terms.

If you were say making paper drinking cups of two sizes, for later sale by you or a third party, option two is a goer. Same raw material, two different set ups, and your customers only care about the size and quantity. Ie make some for Fred, and Jim comes in with a more urgent order, you sell him Fred's...

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