The INDUSTRIOS Inventory module provides you with the tools you need to manage your inventory investment including finished goods, raw materials, WIP and sub assemblies. Integration of the inventory master files with operations modules such as bills of materials, production, purchasing, sales orders, and shipping ensures the entire company is making decisions based on the same information. Through the use of user-defined tables, inventory can be classified into groupings that make it easy to analyze and verify transactions.
The proper costing of materials enables you to determine the actual cost of your product and how to price it accurately. INDUSTRIOS allows you to decide on a unique cost method for each item, and define it as standard, FIFO, average or actual. The integration with production orders and process plans provides visibility to material costs for raw materials, components, and subassemblies. Further integration with procurement ensures that price variances at time of vouchering are captured to perform cost updates to inventory and potentially Cost of Goods Sold. These costs form the basis for the budgets that are monitored during production.