Inventory and Product Mgt - Revision history

Khkoh at 11:04, 27 September 2023

2023-09-27T11:04:06Z

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			'''Inventory and Product Management in Highnix ERP: Precision and Efficiency'''

	Highnix ERP, starting from the Plus tier and higher, offers an advanced Inventory and Product Management system that empowers your business with precise control and streamlined operations. Our robust features cater to diverse inventory needs and are designed to enhance efficiency.		Highnix ERP, starting from the Plus tier and higher, offers an advanced Inventory and Product Management system that empowers your business with precise control and streamlined operations. Our robust features cater to diverse inventory needs and are designed to enhance efficiency.

	1. Multiple Inventory Locations: Highnix ERP supports the management of multiple inventory locations. This feature allows you to organize and track inventory across various warehouses or storage facilities with ease.		# '''Multiple Inventory Locations:''' Highnix ERP supports the management of multiple inventory locations. This feature allows you to organize and track inventory across various warehouses or storage facilities with ease.
			# '''Standard Cost Maintenance:''' Our system automatically maintains the standard cost of products using the "Weighted Average" method. This ensures that your cost calculations remain accurate and up-to-date.
	2. Standard Cost Maintenance: Our system automatically maintains the standard cost of products using the "Weighted Average" method. This ensures that your cost calculations remain accurate and up-to-date.		# '''Option for Negative Inventory:''' Highnix ERP provides the flexibility to enable or disable negative inventory. This option allows you to control inventory levels based on your business requirements.
			# '''Standard Cost Adjustment:''' Adjusting standard costs is a breeze with our system. You can easily make necessary cost adjustments to reflect changes in your inventory values.
	3. Option for Negative Inventory: Highnix ERP provides the flexibility to enable or disable negative inventory. This option allows you to control inventory levels based on your business requirements.		# '''Inventory Transfers''': Effortlessly transfer inventory from one location to another within your organization. Our system simplifies the process, ensuring accurate tracking and accountability.
			# '''Batch Number and Expiry Date Management''': Highnix ERP takes care of your perishable products with precision. Our system allows for batch numbering and offers two levels of expiry date management—one for shelf life and another for product life. This enables you to efficiently manage and track products with expiration concerns.
	4. Standard Cost Adjustment: Adjusting standard costs is a breeze with our system. You can easily make necessary cost adjustments to reflect changes in your inventory values.		# '''Inventory Quantity Adjustment''': Conduct stock checks and make necessary adjustments with cost prices. This feature allows you to reconcile physical inventory with system records, ensuring accurate and up-to-date inventory levels.

	5. Inventory Transfers: Effortlessly transfer inventory from one location to another within your organization. Our system simplifies the process, ensuring accurate tracking and accountability.

	6. Batch Number and Expiry Date Management: Highnix ERP takes care of your perishable products with precision. Our system allows for batch numbering and offers two levels of expiry date management—one for shelf life and another for product life. This enables you to efficiently manage and track products with expiration concerns.

	Highnix ERP's Inventory and Product Management capabilities are designed to optimize your inventory processes, minimize costs, and ensure ~~product quality~~. Whether you're dealing with multiple locations, perishable goods, or complex cost structures, our system provides the tools you need for effective management and control.		Highnix ERP's Inventory and Product Management capabilities are designed to optimize your inventory processes, minimize costs, and ensure records integrity. Whether you're dealing with multiple locations, perishable goods, or complex cost structures, our system provides the tools you need for effective management and control.

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Khkoh at 10:51, 27 September 2023

2023-09-27T10:51:56Z

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	~~===Standard Material Cost Per Unit~~ and ~~Decimal Precision (Standard Cost)===~~		Highnix ERP, starting from the Plus tier and higher, offers an advanced Inventory and Product Management system that empowers your business with precise control and streamlined operations. Our robust features cater to diverse inventory needs and are designed to enhance efficiency.
	~~[[#std_cost\|Tag:#std_cost]]~~

	~~The "Standard Material Cost Per Unit" or "Standard Cost" field in your system is designed to provide you with precise control over~~ the ~~display and recording~~ of ~~material costs~~. ~~It adheres~~ to ~~the decimal places preference you have set~~. ~~Below are key points regarding its behavior:~~		1. Multiple Inventory Locations: Highnix ERP supports the management of multiple inventory locations. This feature allows you to organize and track inventory across various warehouses or storage facilities with ease.

	~~# '''Decimal Places Preference'''~~: ~~The standard material cost per unit is influenced by the decimal places preference you have configured in your~~ system ~~Preference settings. This preference determines the level of decimal precision displayed throughout~~ the ~~application.~~		2. Standard Cost Maintenance: Our system automatically maintains the standard cost of products using the "Weighted Average" method. This ensures that your cost calculations remain accurate and up-to-date.
	~~# '''Retaining Precision''': If a~~ standard cost ~~was originally recorded with more decimal places than specified in your preference, the system retains~~ the ~~original level of precision~~. ~~For instance, if~~ your ~~preference is set to 2 decimal places, but a product price was initially calculated with 6 decimal places (e.g., 12.678912), it will be recorded as such. Subsequently, when you access the standard~~ cost~~, it will display the full decimal value (12.678912), even though your preference is set~~ to ~~2 decimal places.~~
	~~# '''User~~-Initiated Changes''': Users have the flexibility to manually adjust the decimal places for the price. If a user changes the price to a lower decimal places value, for instance, 12.6789, the system will capture the new price with the reduced precision (12.6789). However, if the user attempts to revert to the original precision of 6 decimal places (12.678912), the system will not automatically restore it.
	# '''Permanent Changes''': Further changes made by the user will be recorded according to the new precision setting. For instance, if the user subsequently changes the price to 12.68, it will be stored with 2 decimal places. Unless the preference is adjusted to a higher decimal places setting, the recorded precision will remain at 2 decimal places (e.g., 12.68).

	~~Understanding and managing~~ the ~~decimal precision~~ in the ~~"Standard Material Cost Per Unit" field ensures~~ accurate ~~representation~~ and ~~control~~ of ~~costs in~~ your system. ~~Make sure~~ to ~~adjust your preferences as needed~~ to ~~match~~ your ~~reporting~~ and ~~recording requirements~~.		3. Option for Negative Inventory: Highnix ERP provides the flexibility to enable or disable negative inventory. This option allows you to control inventory levels based on your business requirements.

			4. Standard Cost Adjustment: Adjusting standard costs is a breeze with our system. You can easily make necessary cost adjustments to reflect changes in your inventory values.

			5. Inventory Transfers: Effortlessly transfer inventory from one location to another within your organization. Our system simplifies the process, ensuring accurate tracking and accountability.

			6. Batch Number and Expiry Date Management: Highnix ERP takes care of your perishable products with precision. Our system allows for batch numbering and offers two levels of expiry date management—one for shelf life and another for product life. This enables you to efficiently manage and track products with expiration concerns.

			Highnix ERP's Inventory and Product Management capabilities are designed to optimize your inventory processes, minimize costs, and ensure product quality. Whether you're dealing with multiple locations, perishable goods, or complex cost structures, our system provides the tools you need for effective management and control.

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Khkoh at 10:32, 27 September 2023

2023-09-27T10:32:57Z

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	~~----~~


	~~===<span id="Selling Price">Selling Price </span>===~~
	~~[[#Selling Price\|Tag:#Selling Price]]~~

	The Selling Price feature is a vital component designed to facilitate the management of pricing strategies for various customer segments within a product catalog. This functionality can be accessed through the Inventory Management, Maintenance, and Selling Price section. Users are provided with the ability to select a specific product, the desired currency, sales type (or customer category), and the intended selling price. Upon input, users can click the "Add New" button to save the price configuration.

	This designated selling price takes precedence when a customer falls within the same customer category and is entitled to a specific discount based on the cost price of the product. To illustrate, if a customer belongs to a particular category (e.g., Reseller) and is eligible for a 20% discount on a product, the configured selling price will be used instead of applying the standard 20% discount to the cost price. In cases where a sales price has not been explicitly set for a product, the system will automatically apply the standard discount based on the cost price.

	The flexibility of this feature allows users to establish distinct pricing structures for different scenarios, including sales in different currencies or to various customer categories. This ensures precise and tailored pricing strategies to meet the diverse needs of your clientele.

	~~----~~


	~~[[File:Selling Price.png\|border\|1200x800px]]~~

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Khkoh: /* Standard Material Cost Per Unit and Decimal Precision (Standard Cost) */

2023-09-25T11:40:03Z

Standard Material Cost Per Unit and Decimal Precision (Standard Cost)

← Older revision		Revision as of 19:40, 25 September 2023
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	Understanding and managing the decimal precision in the "Standard Material Cost Per Unit" field ensures accurate representation and control of costs in your system. Make sure to adjust your preferences as needed to match your reporting and recording requirements.		Understanding and managing the decimal precision in the "Standard Material Cost Per Unit" field ensures accurate representation and control of costs in your system. Make sure to adjust your preferences as needed to match your reporting and recording requirements.

			[[#Top\|<u>Go to Top</u>]]

			----


			===<span id="Selling Price">Selling Price </span>===
			[[#Selling Price\|Tag:#Selling Price]]

			The Selling Price feature is a vital component designed to facilitate the management of pricing strategies for various customer segments within a product catalog. This functionality can be accessed through the Inventory Management, Maintenance, and Selling Price section. Users are provided with the ability to select a specific product, the desired currency, sales type (or customer category), and the intended selling price. Upon input, users can click the "Add New" button to save the price configuration.

			This designated selling price takes precedence when a customer falls within the same customer category and is entitled to a specific discount based on the cost price of the product. To illustrate, if a customer belongs to a particular category (e.g., Reseller) and is eligible for a 20% discount on a product, the configured selling price will be used instead of applying the standard 20% discount to the cost price. In cases where a sales price has not been explicitly set for a product, the system will automatically apply the standard discount based on the cost price.

			The flexibility of this feature allows users to establish distinct pricing structures for different scenarios, including sales in different currencies or to various customer categories. This ensures precise and tailored pricing strategies to meet the diverse needs of your clientele.

			----


			[[File:Selling Price.png\|border\|1200x800px]]

			[[#Top\|<u>Go to Top</u>]]

			----

Khkoh at 08:28, 20 September 2023

2023-09-20T08:28:05Z

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	===Standard Material Cost Per Unit and Decimal Precision (Standard Cost)===		===Standard Material Cost Per Unit and Decimal Precision (Standard Cost)===
	[[#std_cost\|Tag:#std_cost]]		[[#std_cost\|Tag:#std_cost]]

Khkoh at 09:47, 18 September 2023

2023-09-18T09:47:36Z

← Older revision		Revision as of 17:47, 18 September 2023
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	===Standard Cost===		===Standard Material Cost Per Unit and Decimal Precision (Standard Cost)===
	[[#std_cost\|Tag:#std_cost]]		[[#std_cost\|Tag:#std_cost]]

	~~In the field~~ "Standard Material Cost Per ~~Unit“,~~ the ~~price shown has~~ the ~~following properties~~:		The "Standard Material Cost Per Unit" or "Standard Cost" field in your system is designed to provide you with precise control over the display and recording of material costs. It adheres to the decimal places preference you have set. Below are key points regarding its behavior:

	* It follows the decimal ~~placss as set~~ in the ~~Preference~~.		# '''Decimal Places Preference''': The standard material cost per unit is influenced by the decimal places preference you have configured in your system Preference settings. This preference determines the level of decimal precision displayed throughout the application.
	* If ~~the~~ standard cost was recorded with more ~~than the~~ decimal places ~~as set~~ in ~~Preference~~, ~~then~~ the ~~number~~ of ~~decimal places follows and the price will show the full decimal places~~. For ~~example~~, if your preference ~~decimal places were~~ set to 2, ~~and the~~ product price was calculated ~~contains~~ 6 decimal places, ~~say~~ 12.678912 ~~and~~ it ~~was~~ recorded. ~~Then~~, when you ~~recall~~ the standard cost, it will ~~show~~ 12.678912 ~~although~~ your ~~decimal places was~~ set to 2.		# '''Retaining Precision''': If a standard cost was originally recorded with more decimal places than specified in your preference, the system retains the original level of precision. For instance, if your preference is set to 2 decimal places, but a product price was initially calculated with 6 decimal places (e.g., 12.678912), it will be recorded as such. Subsequently, when you access the standard cost, it will display the full decimal value (12.678912), even though your preference is set to 2 decimal places.
	* If ~~the~~ user ~~at this point change~~ the price to a lower decimal places value, ~~say~~ 12.6789, the system will capture the new price as 12.6789. ~~But it will not go back~~ to 12.678912 ~~when~~ the user ~~attempt~~ to ~~change it back~~. ~~And~~ if user ~~change~~ the price ~~further~~ to 12.68, ~~then~~ it will be ~~recorded according to this new price~~ with ~~the~~ decimal places ~~of 2~~. ~~Thereafter, unless~~ the ~~Preference~~ is ~~set again~~ to higher decimal places, it will remain as 2 decimal places ~~which is~~ 12.68.		# '''User-Initiated Changes''': Users have the flexibility to manually adjust the decimal places for the price. If a user changes the price to a lower decimal places value, for instance, 12.6789, the system will capture the new price with the reduced precision (12.6789). However, if the user attempts to revert to the original precision of 6 decimal places (12.678912), the system will not automatically restore it.
			# '''Permanent Changes''': Further changes made by the user will be recorded according to the new precision setting. For instance, if the user subsequently changes the price to 12.68, it will be stored with 2 decimal places. Unless the preference is adjusted to a higher decimal places setting, the recorded precision will remain at 2 decimal places (e.g., 12.68).

			Understanding and managing the decimal precision in the "Standard Material Cost Per Unit" field ensures accurate representation and control of costs in your system. Make sure to adjust your preferences as needed to match your reporting and recording requirements.

Khkoh at 09:26, 18 September 2023

2023-09-18T09:26:16Z

← Older revision		Revision as of 17:26, 18 September 2023
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	* It follows the decimal placss as set in the Preference.		* It follows the decimal placss as set in the Preference.
	* If the standard cost was recorded with more than the decimal places as set in Preference, then the number of decimal places follows and the price will show the full decimal places. For example, if your preference decimal places were set to 2, and the product price was calculated contains 6 decimal places, say 12.678912 and it was recorded. Then, when you recall the standard cost, it will show 12.678912 although your decimal places was set to 2.		* If the standard cost was recorded with more than the decimal places as set in Preference, then the number of decimal places follows and the price will show the full decimal places. For example, if your preference decimal places were set to 2, and the product price was calculated contains 6 decimal places, say 12.678912 and it was recorded. Then, when you recall the standard cost, it will show 12.678912 although your decimal places was set to 2.
	* If the user at this point change the price to 12.6789, the system will capture the ~~full~~ 12.6789. But it will not go back to 12.678912. And if user change the price further to 12.68, then it will be recorded according to this new price with the decimal places of 2. Thereafter, unless the Preference is set again to higher decimal places, it will remain as 2 which is 12.68.		* If the user at this point change the price to a lower decimal places value, say 12.6789, the system will capture the new price as 12.6789. But it will not go back to 12.678912 when the user attempt to change it back. And if user change the price further to 12.68, then it will be recorded according to this new price with the decimal places of 2. Thereafter, unless the Preference is set again to higher decimal places, it will remain as 2 decimal places which is 12.68.

Khkoh at 09:23, 18 September 2023

2023-09-18T09:23:23Z

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	===Standard Cost===		===Standard Cost===
			[[#std_cost\|Tag:#std_cost]]

	In the field "Standard Material Cost Per Unit“, the price shown has the following properties:		In the field "Standard Material Cost Per Unit“, the price shown has the following properties:

Khkoh: /* Standard Cost */

2023-09-18T09:21:30Z

Standard Cost

← Older revision		Revision as of 17:21, 18 September 2023
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	===Standard Cost===		===Standard Cost===
			In the field "Standard Material Cost Per Unit“, the price shown has the following properties:

			* It follows the decimal placss as set in the Preference.
			* If the standard cost was recorded with more than the decimal places as set in Preference, then the number of decimal places follows and the price will show the full decimal places. For example, if your preference decimal places were set to 2, and the product price was calculated contains 6 decimal places, say 12.678912 and it was recorded. Then, when you recall the standard cost, it will show 12.678912 although your decimal places was set to 2.
			* If the user at this point change the price to 12.6789, the system will capture the full 12.6789. But it will not go back to 12.678912. And if user change the price further to 12.68, then it will be recorded according to this new price with the decimal places of 2. Thereafter, unless the Preference is set again to higher decimal places, it will remain as 2 which is 12.68.

Khkoh: Created page with "===Standard Cost==="

2023-09-18T08:37:57Z

Created page with "===Standard Cost==="

New page

===Standard Cost===