Over the last few years there has been a great emphasis placed on managing inventory and the supply and demand chains. Excess inventory causes increased carrying and storage costs. Too little inventory or misplaced inventory can lead to lost sales and revenue. Companies dealing with tight margins and demanding customers need to manage all of their assets. The need to manage inventory, to increase inventory turns, to satisfy customer schedules, and to synchronize the demand (sales order) and supply chain (purchase orders / work orders) to ensure optimum profitability, has placed tremendous demands on modern manufacturing companies. M3 was designed to give businesses the ability to control and monitor their inventory in the most flexible manner possible. The M3 Inventory Management and Distribution applications allow you to define inventory and warehouse locations and the optimum balance of materials within those locations. Optionally, you have the ability to utilize bin and lot controls to quickly and efficiently locate parts in your warehouses. As always, our native application integration insures that you can maintain real-time inventory views across multiple locations and warehouses.
The M3 Inventory Control application provides the procedures and reports needed to control the perpetual inventory balances that are critical to keeping your customer orders and production floor on time. The application also provides real-time visibility to on-hand balances, commitments and allocations. You can also view transaction and usage histories through the application’s inventory inquiry capability.
- Summary and detail analysis of your inventory
- Maintains perpetual on-hand balances for all part numbers
- Allows both physical and non-physical inventory location definitions
- Maintains complete part usage information
- Maintains actual or reference bin locations for easy warehouse tracking
- Provides detail transaction audit file reports history on all inventory movements
- Provides summarized on hand valuation and cost reports
- Gives you inventory allocation and commitment status
- Automated data collection
Lot and Serial Tracking
At the part number level, you may choose to track lot numbers and/or serial numbers within inventory. M3 provides an ability to trace from “dock-to-stock” lot to meet both FDA and FAA regulations. Companies can utilize the lot control feature to meet ISO requirements, even when governmental controls do not apply. Serial tracking can be used to track the complete history of a serial controlled part: from shipping, to returns and to re-shipping.
- Provides complete lot control capabilities with detail lot tracing
- Allows lot costing in conjunction with standard or average cost
- Expiration date controls
- Optimum allocation based upon age and/or quantity
Physical and Cycle Counting
The importance of an accurate inventory cannot be understated. It affects all parts of the order and shipment process. Inaccurate inventory increases costs and affects profitability. Your management plans for shop floor and sales revolve around maintaining accurate inventory counts. To control minor inventory fluctuations, inventory cycle counts can be used to count portions of your inventory on a daily basis. With use of the inventory control features within M3, companies find that adjustments required by a cycle count are minimal. A complete physical inventory (wall-to-wall) is available, with inventory tags and/or count sheets automatically generated.
- Performs ABC part stratification for use with cycle count procedures
- Provides count reporting and variance analysis
- Gives complete physical inventory capabilities for wall-to-wall inventory valuation
Planning Group Control
Many companies have multiple warehouses or manufacturing facilities. The M3 Planning Groups application allows you to run separate planning and production plans for each facility.
- Provides you with the ability to create separate plans for each facility
- Helps you manage multiple locations with the same planning system