User:Oracleexpert/Oracle inventory

Oracle Inventory (INV) is core module is part of Oracle Applications ERP suite.

Features of Oracle Inventory

Inventory Organization Structure:
Setup Legal entities, Operating Units, Inventory organizations, Subinventories & Locators.

Item Master:
Setup Item master, child inventory organizations. Create and assign items to organizations. Maintain item attributes.

Inventory transactions:
Manage onhand inventory, stock transfer, receive stock etc.

Serial & Lot control:
Serial and Lot number generation and assign to items/onhand stock.

Inventory Planning:
Supports Reorder planning & Min-max planning

Physical Inventory:
It is an activity where 100% of onhand is physicaly verified and reconciled with system onhand. Typically this is done once a year or twice based on business needs. When physical inventory in progress typically all other operations will be on hold. Any differences in physical and systematic onhands are adjusted and approved in system and matched with physical onhand quantity.

Cycle counting:
It is a periodic counting process instead of onetime process like physical inventory. In cycle counting items are classified into ABC classes (high, medium, low value items). High value items are verified more frequent than low low value items. System generates the schedule of items that need to be counted and verified.

External references

 * 1) Oracle Inventory Tutorial
 * 2) Oracle Inventory COMPLETE Video Tutorial