Inventory
The inventory capabilities enable users to manage item master information and maintain serial and batch numbers as well as price lists. Users also can define alternative items, perform inventory increase or decrease adjustments, revalue inventory costs based on current market values, and perform cycle counts, as well as generate pick lists for open sales orders.

Item Master Data
This feature allows users to define production (make) items, purchase (buy) items, or non inventory items, including labor, travel, or fixed assets. Default information – such as purchasing vendor, purchasing and selling unit of measure, as well as the tax status for an item – is maintained here. Stocked items can be maintained in multiple warehouses; the solution also can maintain the costs for each item in each warehouse. SAP Business One also supports different inventory valuation methods on a per item basis. The methods currently supported are standard cost, moving average, and FIFO. Planning data is also maintained within item master data. Users can define a procurement method (such as make or buy) as well as the order intervals in which to purchase an item (such as monthly, weekly, or daily). They can also define the lot sizes in which to purchase items, as well as the minimum order quantity and average lead time.

Serial Numbers
Serial numbers can be automatically generated based on predefined masks; they can also be manually created and assigned only on release of an item from inventory or optionally on every transaction.

Batches
Users can assign batches to products and classify them by shelf life or any other freely definable attributes. The batches can then be defined for these products in sales orders, delivery notes, and inventory movements. A separate batch report is available for batch monitoring.

Substitute Items
This feature allows users to create a list of items that can be suggested to the customer as alternatives if the required item is not available. Substitutes can be ranked based on similarity of item, price, or quantity. Define business partner catalog number – This feature maintains a cross-reference table of vendor part numbers to inventory part numbers. Vendor part numbers can be used on purchasing documents in lieu of inventory part numbers.

Update Stock Method
Different situations or market conditions may require changes of the valuation method for your inventory. With the update stock valuation method report, users can easily select items from a list and change the current valuation method to an alternative method.

Goods Receipt and Goods Issue
These two functions enable users to record goods receipts and issues that are not directly related to a sales or purchasing document.

Stock Transfer
This feature allows users to move inventory between warehouse locations.

Inventory/Stock Posting
Users can use this function to:

• Enter opening balances for inventory items
• Update warehouse data in the system

Cycle Counting System
In large warehouses, counting stock is often a continual process. This function streamlines the process by identifying when each item in stock is due to be counted. The alerts and reports produced help ensure that items of different levels of importance are counted as frequently as required.

Material Revaluation
This feature enables users to make changes in existing inventory prices. This can be necessary when the current price of the material does not match the actual market price. In that case, the price is adjusted and a manual posting on the change is posted.

Price List
Users can define any number of price lists and link them with customers or vendors. In addition, they can create dynamic links between price lists, quickly and easily, updating the links automatically whenever the primary price list changes.

Special Prices
Users can define special prices for individual customers or vendors. They also can define quantity-specific prices that link to order volume and define a validity period for each price list; the validity period is adjusted automatically whenever the data changes. In addition, users can even define discounts based on different terms of payment.

Pick and Pack Manager
The pick and pack manager capabilities allows users to manage the picking and packing process within three queues. As sales orders are entered, they are displayed in the “open” queue; quantities can be marked as fully or partially released for picking. The “released” queue displays all orders released for picking; it can be marked as fully picked or partially picked. Either within the “open” or “released” queues, users can automatically create pick lists per order or for a range of orders. Within the “picked” queue, orders marked as picked can be displayed and selected for packing. The pick and pack manager offers a range of sorting options and flexibility to work with your picking and packing processes.

Distribution reporting options include:

• Item list.
• Last prices – Displays a list of prices last offered to a specific customer.
• Inactive items – Lists inactive items in a defined period, which helps companies reduce warehousing costs.
• Item query – Retrieves item details.
• Inventory posting list by item – Groups all inventory postings by business partner or item.
• Inventory status – Displays the warehouse inventories by item in stock, quantity ordered, and available quantity. It lets users click the mouse on an item line to execute an open sales
  order report for the selected item.
• Inventory in warehouse report – Displays all item stocks by warehouse as well as the total balance for each item.
• Inventory valuation report – Evaluates inventory on hand using a variety of valuation methods, such as FIFO, LIFO, standard cost, moving average and last purchase price, regardless of the actual valuation method used for transaction postings. It also displays an overview of all items or each individual item in detail. The solution includes a special algorithm that ensures that negative item stocks are interpreted correctly.
• Serial number transaction report – Lists every transaction involving a serialized item.
• Batch number transaction report – Shows every transaction involving items assigned to batches.

Read more detail in the fact sheet (Enabling New Efficiency Control and Profits for SMB)

Are you interested in hearing from someone directly about how SAP Business One can work for you? Please go to our presales information page and tell us a little about you and your business!

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