Summary
This module provided an overview of the inventory management process. It also described how to configure inventory dimensions, storage dimensions, tracking dimensions, serial and batch numbers, sites, warehouses, inventory policies, and item groups and item model groups.
Inventory dimensions allow your organization to define the different attributes or characteristics of your inventory items, such as color, size, style, and storage dimensions. Additionally, your company can specify the physical locations to store your inventory, such as warehouses, shelves, or bins. Tracking dimensions allow your organization to categorize your inventory based on various criteria, such as location, department, and project. You also learned that serial and batch numbers are crucial for industries where traceability and quality control are essential.
Sites represent physical locations where business operations occur, while warehouses are specific areas in these sites where inventory is stored. Inventory policies define the rules and parameters governing how to manage inventory, including reorder points, safety stock levels, and replenishment methods. Item groups allow you to categorize similar items together for easier management and analysis. Item model groups define common characteristics and behaviors that a group of items shares. Finally, you learned how to allocate batch and serial numbers and work with consignment inventory.