Inventory and Product Mgt: Difference between revisions

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


In the field "Standard Material Cost Per Unit“, the price shown has the following properties:
'''Inventory and Product Management in Highnix ERP: Precision and Efficiency'''


* It follows the decimal placss as set in the Preference.
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.
* 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.
# '''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.
# '''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.
# '''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.
# '''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.
 
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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Latest revision as of 19:04, 27 September 2023


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.

  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.
  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.
  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.
  7. 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.

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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