Screen Layout of SubClass

Field Description of SubClass

Class:

Denotes the Class of the Sub-Class.

While 'Adding' a new Sub-Class, click on the field to access a list of Classes that have already been defined. Select your desired Class from the list by clicking on it. Alternatively you can also enter the Class Code. Press <TAB>. The system will check whether the right Code has been entered or not.

In case of 'Edit' and 'View', the Class will be displayed automatically for the selected record. It can NOT be changed.

Sub Class Code:

(Type : Alphanumeric, Length : 5)

Denotes the Code of the Sub-Class.

While 'Adding' a new Sub-Class, enter the unique Code for the Sub-Class. This is the Code by which a Sub-Class will be referred through out IMMS. The system will ensure that a unique Code has been entered by the user.

In case of 'Edit' and 'View', the Sub-Class Code will be displayed automatically for the selected record. It can NOT be changed.

Sub Class Description:

(Type : Alphanumeric, Length : 100)

Denotes the Description of the Sub-Class.

While 'Adding' a new Sub-Class, enter the Description for the Sub-Class. This is the name by which a Sub-Class will be referred through out IMMS.

In case of 'Edit' and 'View', the Description will be displayed automatically for the selected Sub-Class. You can change it in 'Edit' mode.

Inventory Valuation Method

Denotes the Method that will be applied while calculating the value of the Inventory for Items belonging to this Sub-Class.

There are three Inventory Valuation Methods available in IMMS. The valuation method is applied after issues are done by stores.

While 'Adding' a new Sub-Class, the Valuation Method that was selected for its Class will be by default inherited by the new Sub-Class. But you can change it specifically for this Sub-Class by by selecting one of the following options. Once saved, this option cannot be changed for the current financial year at any given time.

FIFO:

(First In First Out)

As the name suggests, materials that have come first in the stores will be issued first. The valuation of inventory after issues for remaining material in stores is called FIFO inventory valuation method.

 

Example...

Suppose opening balance of Item 'xyz' in stores is zero.

 

First lot of 10 quantities of Item 'xyz' is received in stores at the rate of Rupees 10 per item on 1st April 2011.

 

Second lot of 10 quantities of item 'xyz' is received in stores at the rate of Rupees 15 per item on 5th May 2011.

 

Third lot of 10 quantities of item 'xyz' is received in stores at the rate of Rupees 20 per item on 8th June 2011.

 

Now if a company adopts the FIFO method and if there are 10 quantities of item 'xyz' to be issued to production department by stores then those items that arrived first in stores will be issued. Hence, those 10 item that were received on 1st April 2011 at Rupees 10 per item will be issued to production department from stores. Therefore, according to FIFO method, inventory valuation will be as follows -

 

Total inventory valuation as per FIFO will be (10X15) + (10X20) = Rupees 350.

 

Also for costing purpose, material cost in production will be (10X10) = Rupees 100.

 

Moving Average:

Materials in this case is issued from stores in a random fashion. Therefore it does not matter whether the material was received first or last, it is issued in any order. The valuation done for remaining material in store after issues is called Weighted Average method of inventory valuation.

 

At Actual:

Same material can be received in the store with different quantities of dimensions/Serial No/Batch No/Inward No/Heat No, at the same or different rate. Similarly while issuing, the quantity of the material for the specific dimension/Serial No/Batch No/Inward No/Heat No only will be issued. The valuation of inventory after issues for the remaining same material irrespective of its dimensions/Serial No/Batch No/Inward No/Heat No in stores is called At Cost (Actual) inventory valuation method.

 

Example...

Suppose opening balance of Item 'xyz' in stores is zero.

 

First 10 quantities of Item 'xyz' with Sr No = 1 is received in stores at the rate of Rupees 10 per item on 1st April 2011.

 

Second lot of 10 quantities of item 'xyz' with Sr No = 2 is received in stores at the rate of Rupees 15 per item on 5th May 2011.

 

Third lot of 10 quantities of item 'xyz' with Sr No = 3 is received in stores at the rate of Rupees 20 per item on 8th June 2011.

 

Now if 10 quantities of item 'xyz' with Sr No = 2 are issued to production department by stores than then according to At Cost (Actual) method, inventory valuation will be as follows -

 

Total inventory valuation will be (10X10) + (10X20) = Rupees 300.

In case of 'Edit' and 'View', Inventory Valuation Method of the selected Sub-Class will be displayed automatically. You can NOT change it in 'Edit' mode.

Nature of Item:

Denotes the Nature of all Items defined under this Sub-Class.

The Nature of Item that was selected for its Class will be by default inherited by the new Sub-Class.You can NOT change it.

Is this Saleable Nature of Item?

The value of this flag that was selected for its Class will be by default inherited by the new Sub-Class.You can NOT change it.

Use Item Serial Number

Denotes whether an Item belonging to this Sub-Class can be dispatched by its Serial Number or not.

While 'Adding' a new Sub-Class, the status of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Turn the flag 'On' by clicking on it if the Items belonging to this Sub-Class have to be dispatched by their Serial Numbers. Do not select this option if the Items do not have to be dispatched by their Serial Numbers.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Use Manufacturing Batch

Denotes whether Manufacture Number should be entered for Items belonging to this Sub-Class or not.

While 'Adding' a new Sub-Class, the status of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Turn the flag 'On' by clicking on it if the Manufacture Numbers have to be entered for Items belonging to this Sub-Class at the time of stock transactions. Do not select this option if the Manufacture Number is not needed.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Use Inward Batch

Denotes whether Inward Number should be entered for Items belonging to this Sub-Class or not.

There are cases when particular items are frequently purchased but at different rates. Such items can be assigned an Inward Number which actually specifies a particular rate at which the items were procured. IMMS allows to enter the Inward Number when such an item is received in the stock.

While 'Adding' a new Sub-Class, the status of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Turn the flag 'On' by clicking on it if the Inward Numbers have to be entered for Items belonging to this Sub-Class. Do not select this option if the Inward Number is not needed.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Indent Required?

This option allows to specify whether Item belonging to particular Class and Sub-Class requires Indent before raising Purchase Order for it or not. If this flag is set as 'On', Purchase Orders for an Item can be raised only against its Indent. If the flag is set as 'Off', Purchase Orders can be raised directly.

While 'Adding' a new Sub-Class, turn the flag 'On' by clicking on it if the Indents have to be raised for Items belonging to this Sub-Class. Do not select this option if the Indents are not required to be raised.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Use Heat No

Denotes whether Heat Number should be entered for Items belonging to this Sub-Class or not.

While 'Adding' a new Sub-Class, the status of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Turn the flag 'On' by clicking on it ifthe Heat Number has to be entered for Items belonging to this Class at the time generating Goods Receipt Notes through Store & Inventory Module. Do not select this option if the Heat Number is not needed.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Use Shelf Life

There may be some items which get expired after a period of time. Through this field, you can specify whether the particular Item gets expired or not.

While 'Adding' a new Sub-Class, the status of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Turn the flag 'On' by clicking on it if Items belonging to this Sub-Class have a shelf life. Do not select this option if the Items do not have any shelf life.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Use QC

This field for each Sub-Class specifies whether Items belonging to it should go through the quality checks before reaching the stock or not. This allows integration with the Quality Control & Assurance Module of IMMS.

While 'Adding' a new Sub-Class, the status of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Turn the flag 'On' by clicking on it if Items belonging to this Sub-Class should undergo quality control checks. Do not select this option if the Items need not undergo quality control checks.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

KANBAN

Please note that this field will be displayed only if the flag 'Do you want to use KANBAN functionality?' is set as 'On' through Inventory Policy option. Otherwise it will NOT be displayed.

Denotes whether Items belonging to this Sub-Class should be classified as KANBAN Items or not.

While 'Adding' a new Sub-Class, turn the flag 'On' by clicking on it if Items belonging to this Sub-Class should be considered as KANBAN Items. Do not select this option if the Sub Class has NON-KANBAN Items.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class. If the Sub-Class has already been declared as KANBAN Sub-Class, you can NOT uncheck it in 'Edit' mode.

Items to be considered for Work Order Receipt Costing through Extra Issue

Items to be considered for Job Based MRP Run Yes/No

Want to Dispatch Material Without Manufacturing?

This option will be displayed only when the flag 'Want to Dispatch Material Without Manufacturing' is set as 'On' through Sales Policy option. It allows to dispatch material without creating the Work Order.

While 'Adding' a new Sub-Class, the status of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Turn the flag 'On' by clicking on it if generating Work Orders is not required to dispatch Items belonging to this Sub-Class.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode. Please note that even if one Item has been defined under the selected Sub-Class, the status of this flag cannot be changed.

% of Excess Quantity at the time of GRN against PO Ordered Qty:

(Type : Numeric, Length : 2)

Some companies accept excess quantity of Items against Purchase Orders. Through this field, IMMS provides a facility to define what percentage of Items can be accepted in excess at the time of making a Goods Receipt Note.

Example...

Lets say excess percentage for items is 5%. Also suppose a particular vendor is given a purchase order of 100 quantity of items. Now at the time of generating Goods Receipt Note, the company will be allowed to accept up to 105 quantities of items and not more than that.

While 'Adding' a new Sub-Class, the excess value specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Enter the excess value in percentage.

In case of 'Edit' and 'View', the value of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Lower Limit of Fast Moving Items:

(Type : Numeric, Length : 5)

IMMS provides complete flexibility in deciding limits for number of transactions to segregate fast moving items. These limits can be defined against each Sub-Class.

This value defines the minimum number of transactions up to which an Item belonging to a particular Sub-Class will be considered as Fast Moving item.

While 'Adding' a new Sub-Class, the value of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Enter the lower limit for fast moving transactions.

In case of 'Edit' and 'View', the value of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Lower Limit of Slow Moving Items:

(Type : Numeric, Length : 5)

IMMS provides complete flexibility in deciding limits for number of transactions to segregate slow moving items. These limits can be defined against each Sub-Class.

This value defines the minimum number of transactions up to which an Item belonging to a particular Sub-Class will be considered as Slow Moving item.

Below the 'lower limit for Slow Moving goods' up to zero is considered as range for Non-moving items.

While 'Adding' a new Sub-Class, the status of this field specified for its Class will be by default inherited by the new Sub-Class. But you can change it for the Sub-Class. Enter the lower limit for slow moving transactions.

In case of 'Edit' and 'View', the value of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode.

Dimension Settings

Please note that once an Item is created using a Sub-Class, none of these four flags will be allowed to change.

Do you require Dimensions for Material Items?

This option allows to specify whether the Item belonging to a particular Class and Sub-Class is a Dimension Item or not. If this flag is set as 'On', Dimensions can be maintained for the Item. If the flag is set as 'Off', Dimensions can NOT be maintained for the Item.

While 'Adding' a new Sub-Class, turn the flag 'On' or 'Off' by clicking on it.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode provided not even a single Item has been defined under the selected Sub-Class through Item Master Basic Detail - Entry option of Materials Module.

Do you require Dimension wise Stock Keeping?

This flag will be enabled only if the above flag 'Do you require Dimensions for Material Items?' is selected as 'On'. Otherwise, it will remain disabled.

This option allows to specify whether the stock should be maintained for Dimension Items or not. If this flag is set as 'On', Stock will be maintained for Dimensions Items. If the flag is set as 'Off', Stock will NOT be maintained for Dimension Items.

While 'Adding' a new Sub-Class, select either 'On' or 'Off' by clicking on it.

In case of 'Edit' and 'View', the status of this field will be shown as per the selected Sub-Class . You can change it in 'Edit' mode provided not even a single Item has been defined under the selected Sub-Class through Item Master Basic Detail - Entry option of Materials Module.

How Dimensions will be used in Requirement Calculation from BOM?

This flag will be enabled only if the above flag 'Do you require Dimension wise Stock Keeping?' is selected as 'On'. Otherwise, it will remain disabled.

This flag specifies how a Dimension Item should be considered while making a Product Structure and Bill of Material. IMMS provides the facility to consider a Dimension Item either on its Size or on its Weight.

Select 'S - BOM quantity will be in Dimensions and Number of Pieces' if the Dimension Item should be considered by its Size and Number of Pieces while specifying it in Product Structure or Bill of Material. Select 'W - Weight quantity will be in Weight/Length and Dimension will be used to calculate Weight/Length' from the given popup in case the Dimension Item should be considered by its Weight /Length while specifying it in Product Structure or Bill of Material. Select 'N - Not Applicable' if none of the above option is applicable.

Do you want to use Dimensions in BOM for deriving Weight/Length and NOT keeping Dimension wise Stock?

If the flag 'Do you require Dimension wise Stock Keeping?' is set as 'Off', this flag will be automatically set to 'On'. As a result, stock will not be maintained for the Dimension Items but will be considered by its Weight/Length while specifying it in Product Structure or Bill of Material.

If the flag 'Do you require Dimension wise Stock Keeping?' is set as 'On', this flag will be automatically set to 'Off'. The user can choose the appropriate option for the flag 'How Dimensions will be used in Requirement Calculation from BOM?'.