Warehouse Company Options Overview - Warehouse Inventory
When setting up your warehouse, NEXGEN provides multiple options to help you track inventory changes and manage how inventory is moved in and out of your system. To access these settings, you must navigate to your Company Options page.
Navigate to Company Options
To navigate to company options:
- From the NEXGEN dashboard, click "Settings."
- Click "Setup."
- Click "Company Options."
Company Options Overview
From the Company Options module, you can view your Warehouse Inventory settings by selecting the "Inventory" tab under your domain list. Depending on the number of domains in your system, you may or may not have to toggle between different domain lists. To learn more about each of the settings above and how they affect your inventory process, see the table below.
Warehouse Inventory Settings
Option | Function |
Use PO for Inventory Update | If non-stock controlled inventory is off, this gives users the option to create a Purchase Order (PO) when adding a non-stock item to a work order. |
Auto Revaluate Inventory in WO | Allows actual items to be added to WOs even if stock quantity for the item is zero. **Only possible if stock controlled inventory is off. |
| Calculate Avg. Cost for Open Receipts | When selected, any items with "Average Cost" type selected will be used to calculate an average cost. The calculation will only take into account items still in stock. |
Average Type (months) | The number of months of POs that the system will look at to calculate the average cost of an item. **Only relevant for items with Avg. Cost selected. |
Back Order Type | Company option is not being used. |
Stock Controlled Inventory | Prevents end users from adding actual stock item quantities to WOs. Users will only be able to add estimated unit quantities to WOs and all items must be requested through an inventory requisition. |
Stock Approval by Hierarchy | Used in conjunction with the "Stock Controlled Inventory" permission, this permission also requires requisition requests to go through an approval process based on an employee's "Max Requisition Amount". |
Wait Time (Hours) | Company option is not being used. |
Part Number prefix for Warehouse Part Number | Relevant for RFID, adds a numeric suffix to all individual units of an item. |
Warehouse Item Number | Relevant for RFID, if the "Part Number prefix for Warehouse Part Number" is selected then a warehouse item number must be entered into this field. This number will be the starting number for the suffix series. For example, if 123 is entered into this field, all items added to your inventory will have a suffix, the earliest addition starting with 123, then 124, 125, so on and so forth. |
WO Requisition needs Approval | Company option not being used. |
Tax Amount (%) | The tax percentage you would like you use in cost calculations. The number entered should already be in percentage form. For example, if you would like your costs to reflect a 7% tax, enter the number "7" without the percent sign. You do not need to change your tax amount to a decimal. |
PO Status after Receiving all Parts | Changes the status of a PO to the selected status after all items are received on a purchase order. |
Non-Stock Controlled Inventory | Prevents end users from adding actual non-stock item quantities to WOs. Users will only be able to add estimated unit quantities to WOs and all items must be requested through an inventory requisition. |
Agreement Controlled Inventory | Prevents end users from adding agreements to WOs directly. Instead a user is directed to an agreement requisition and submits a request. |
Agreement Approval by Hierarchy | Requires agreements to go through an approval process before actual units are added to WOs. |
Non-Stock Approval by hierarchy | Used in conjunction with the "Non-Stock Controlled Inventory" permission, this permission also requires requisition requests to go through an approval process based on an employee's "Max Requisition Amount". |
Use Agreement Access List | Mandates the use of an agreement list for agreements. Only users on the agreement list will be able to access the agreement and add it to work orders. |
Approval Route | If selected, system requires users to select an approval route when adding stock items to work orders. Approval Routes must first be configured in Lookups. |
Store Item Details | For NEXGEN internal use only. Identifies client site information and warehouse data structure for NEXGEN support team. |
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