Inventory Management enables organizations to model the structure of storing inventory in a warehouse as well as processing inventory in and out of the warehouse. It accurately and efficiently calculates quantities to maintain stock level based on item replenishment parameters, tracks and reconciles the physical location of inventory items, provides the ability to reconcile discrepancies, perform cycle counts, track cumulative and unit cost information at an item level, provide automatic item putaways into physical locations from purchasing receipts and issue inventory items to customers.
The scope of Inventory Management includes:
- Warehouse management
- Inventory replenishment
- Inventory item issue
- Inventory purchase requisitions
- Inventory purchase orders (POs)
- Inventory receiving
- Item bar codes
- Inventory returns
- Inventory item issue (stock request)
- Tracking inventory after its been issued
- Inventory items
- Inventory item catalogues
- Mobile warehouse application
Note: The list above is representative only.
PPlanon is the system of record for all areas listed above and integrated with Workday for HR and Finance information.