Inventory End of Period message ‘Missing IC Warehouse/Vendor Review’ set up at another terminal to continue

Question: Why the message and why is it required to set up a warehouse/vendor review cycle record?

ERP FACTS - Technical Answer:   (Required Reason)

The rule for Inventory Month End requiring a Warehouse/Vendor Review Cycle Record: A warehouse/item record which has the Order Quantity calculation method set to EOQ.

FACTS Inventory Month end process involves logic that wants to recalculate the warehouse/item restocking quantities (Order Quantity, Min/Max, and Order Point/Line Point).  The ‘Order Quantity’ is calculated using one of three methods (EOQ, Movement Class, or Manual).  When the method is EOQ (economic order quantity), there are 3 possible answers and the highest calculated quantity becomes the EOQ result

1. Actual EOQ formula result.
2. ½ Months Usage
3. *Review Cycle Usage (review cycle days times daily usage)

*The review cycle usage needs the review cycle days which is stored in the Warehouse/Vendor Review Cycle record.  This is technical reason why the Warehouse Vendor Review Cycle record is required to be on file for Inventory month end.

Replenishment Answer: (Optional Reason)

The Inventory Replenishment programs utilize information from the Warehouse/Vendor Review Cycle record to calculate the Line Point or Maximum Quantity.  If there is NO Warehouse/Vendor Review Cycle Record- then Line Point will be the same quantity as Order Point and Max Quantity will NOT include percent above minimum.

1. Line Point =

Order Point + Review Cycle Usage (review cycle days X daily usage)

Review cycle days stored in warehouse/vendor review cycle record

               

2. Max =

Min Qty + Order Quantity + Percent above minimum quantity

% Above Minimum stored in warehouse/vendor review cycle record