Inventory in transit from foreign suppliers

Yahoo Archive
1
> I had one thought - receive the inventory into a special bin that everyone
> knows is unavailable. Then, when the goods actually arrive at our plant,
> transfer them into a normal bin. Our production people seem to have some
> reservations about that, though - perhaps relating to the extra
> transaction, different than a normal receiving, or perhaps related to that
> bin looking like it is available as far as the system is concerned.
>
> Am I on the right track, or is there a better way that will satisfy
> accounting and production?

Someone brought this up on the list a few months ago IIRC. One solution was
to receive the parts and then immediately issue them to a job so they do not
show up in inventory. The due date of the job would be the expected receipt
date so you still will get some visibility in Time Phase. For accounting
purposes, create a Product Group that uses your "on-the-water" account for
the WIP account and use that Product Group when you create your job.

Mark W.
2
We have a dilemma. We buy inventory from suppliers in China. We pay in advance and we own the inventory as soon as it leaves the factory in China. So, it is inventory then, and we should receive it into inventory. If we do that, though, Vista/Vantage thinks it is available to be grabbed off the shelf and used in production, which it clearly is not. I am sure some of you are similarly situated. How do you handle this so the accounting records reflect the proper inventory, but it is clear to production and scheduling that the inventory is unavailable?

I had one thought - receive the inventory into a special bin that everyone knows is unavailable. Then, when the goods actually arrive at our plant, transfer them into a normal bin. Our production people seem to have some reservations about that, though - perhaps relating to the extra transaction, different than a normal receiving, or perhaps related to that bin looking like it is available as far as the system is concerned.

Am I on the right track, or is there a better way that will satisfy accounting and production?

Thom Rose
Controller
Electric Mirror, LLC
T 425 776-4946 ext. 1024
A 11831 Beverly Park Road, Building D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com/>



[Non-text portions of this message have been removed]
3
Can you institute a receive time?
Carey



To: vantage@yahoogroups.comFrom: t.rose@...: Mon, 20 Oct 2008 15:58:53 -0700Subject: [Vantage] Inventory in transit from foreign suppliers




We have a dilemma. We buy inventory from suppliers in China. We pay in advance and we own the inventory as soon as it leaves the factory in China. So, it is inventory then, and we should receive it into inventory. If we do that, though, Vista/Vantage thinks it is available to be grabbed off the shelf and used in production, which it clearly is not. I am sure some of you are similarly situated. How do you handle this so the accounting records reflect the proper inventory, but it is clear to production and scheduling that the inventory is unavailable?I had one thought - receive the inventory into a special bin that everyone knows is unavailable. Then, when the goods actually arrive at our plant, transfer them into a normal bin. Our production people seem to have some reservations about that, though - perhaps relating to the extra transaction, different than a normal receiving, or perhaps related to that bin looking like it is available as far as the system is concerned.Am I on the right track, or is there a better way that will satisfy accounting and production?Thom RoseControllerElectric Mirror, LLCT 425 776-4946 ext. 1024A 11831 Beverly Park Road, Building D, Everett, WA 98204 USAwww.electricmirror.com<http://www.electricmirror.com/>[Non-text portions of this message have been removed]





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4
Accountants that actually want to start the payables clock upon shipment? E-GADS!

Seriously: Try handling the accounting side as a pre-payment. If that doesn't satisfy A/P, do nothing until you physically receive and then have accounting post the invoice on the shipped date (not your received date).

I would shy away from doing faux receipts to unavailable 'in transit' warehouse/bins. Unless you do no inspection, that screws up the inspection processing flow. You would have to do inventory inspections upon actual physical receipt (and transactional Move to an available location).

I also seem to recall an option on v8 to pre-enter large receipts like this into a receipt pack list. That could be done when the product hits the boat and it MAY offer some way to give accounting the visibility they need (and process flow to achieve) invoice posting upon shipment WITHOUT monkeying around with inventory receipts you really don't have yet.

I'd scour the help files and manuals to see what is offered that you can leverage to make everyone happy. You might get lucky.

Rob

--- On Mon, 10/20/08, Thomas Rose <t.rose@...> wrote:
From: Thomas Rose <t.rose@...>
Subject: [Vantage] Inventory in transit from foreign suppliers
To: "vantage@yahoogroups.com" <vantage@yahoogroups.com>
Date: Monday, October 20, 2008, 6:58 PM











We have a dilemma. We buy inventory from suppliers in China. We pay in advance and we own the inventory as soon as it leaves the factory in China. So, it is inventory then, and we should receive it into inventory. If we do that, though, Vista/Vantage thinks it is available to be grabbed off the shelf and used in production, which it clearly is not. I am sure some of you are similarly situated. How do you handle this so the accounting records reflect the proper inventory, but it is clear to production and scheduling that the inventory is unavailable?



I had one thought - receive the inventory into a special bin that everyone knows is unavailable. Then, when the goods actually arrive at our plant, transfer them into a normal bin. Our production people seem to have some reservations about that, though - perhaps relating to the extra transaction, different than a normal receiving, or perhaps related to that bin looking like it is available as far as the system is concerned.



Am I on the right track, or is there a better way that will satisfy accounting and production?



Thom Rose

Controller

Electric Mirror, LLC

T ext. 1024

A 11831 Beverly Park Road, Building D, Everett, WA 98204 USA

www.electricmirror. com<http://www.electric mirror.com/>



[Non-text portions of this message have been removed]


























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5
Also making that bin non-nettable may also be helpful.



Patrick Winter



From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Thomas Rose
Sent: Monday, October 20, 2008 5:59 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Inventory in transit from foreign suppliers



We have a dilemma. We buy inventory from suppliers in China. We pay in
advance and we own the inventory as soon as it leaves the factory in
China. So, it is inventory then, and we should receive it into
inventory. If we do that, though, Vista/Vantage thinks it is available
to be grabbed off the shelf and used in production, which it clearly is
not. I am sure some of you are similarly situated. How do you handle
this so the accounting records reflect the proper inventory, but it is
clear to production and scheduling that the inventory is unavailable?

I had one thought - receive the inventory into a special bin that
everyone knows is unavailable. Then, when the goods actually arrive at
our plant, transfer them into a normal bin. Our production people seem
to have some reservations about that, though - perhaps relating to the
extra transaction, different than a normal receiving, or perhaps related
to that bin looking like it is available as far as the system is
concerned.

Am I on the right track, or is there a better way that will satisfy
accounting and production?

Thom Rose
Controller
Electric Mirror, LLC
T 425 776-4946 ext. 1024
A 11831 Beverly Park Road, Building D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com/>

[Non-text portions of this message have been removed]





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