3rdwave Global Inventory and Warehouse Control

Overview

3rdwave's Global Inventory and Warehouse Control module maintains all the information related to warehouse inventory throughout the corporate warehouse system. 3rdwave is equally competent in managing inventory information at the lot, location, SKU or WIP (Work in Process) level in company-owned and third party locations.

3rdwave handles all types of inventory including owned, transformated, consolidated and consigned. Products received into inventory can be assigned to unlimited companies, divisions or departments. Users and managers have complete and real-time access to inventory statuses and activities by product, department, or company -- on-line or in hard copy.

With full integration to all other modules within the 3rdwave suite -- SRM, CRM, Global Logistics, Accounting and Finance -- management has a complete, accurate and timely picture of inventory throughout the global supply chain. Maximizing inventory turnover, minimizing floor stock inventory and EOQ replenishment is supported with comprehensive, complete and easily accessed inventory statuses at the SKU level (comprised of Purchase Order position, in-transit, floor stock and order commitments). 3rdwave's multi-warehouse capabilities support efficient balancing of organizational inventory by reporting it by SKU/warehouse/lot, warehouse/SKU/lot and enabling easy transfer of inventory to the distribution center where it is most needed.

The Inventory Control module is able to receive Advance Shipping Notices (ASN's) electronically (web or EDI) or manually. Easy-to-use screens make manual receiving fast and easy. Integration to the Traffic Control module automatically updates the traffic file information in real-time without further user intervention. 3rdwave's on-line real-time inventory positioning allows for cross-docking and rapid release of inbound inventory to support time-sensitive order fulfillment.

3rdwave's Inventory and Warehouse Control module supports, complements and can even enhance a company's global security initiatives. By providing a completely integrated environment between other 3rdwave modules, inventory is accuratly and easily tracked across the entire global supply chain, and all relevant details related to the SKU are captured. Being able to fully document the complete pedigree of an item from its original source through delivery to the customer means that in the event of breach in security and a required recall, 3rdwave provides immediate and full access to the distribution of the item concerned so that involved parties can be advised and total documentation provided to the required regulatory agencies - instantly.

Module Features

• Supports multiple warehouses, companies, divisions or departments
• Maintains quantity received, units of measure, SKU's associated to traffic file, unique shipment identifier and purchase order or contract
• Product code, product description, and product condition
• Unique lot number identifier related to warehouse receipt number
• 3-tier location management
• Full lot identification control and management - supports FIFO, LIFO, FEFO, etc.
• Transfer of stock between warehouses (owned and/or non-owned)
• Adjusts inventory lot quantities, costs and details
• Visible lot aging analysis
• Manages consignment inventory
• Manages export and shipment consolidation inventories
• Controls damaged or other special status inventories
• Real time inventory valuations
• Bill of Material (BOM) control - manages and controls kitting and other stock transformations
• Specialized inventory control, e.g., steel, lumber, apparel, etc.
• Total product recall control

Reporting Features

• On-line and hard copy inventory status reports detailing current floor stock position, inbound shipping details, inventory activity and sales orders/commitment details
• Date-specific review of inventory positions
• Review of inventory activity for any user-defined time period
• Current and historical review and analysis on inventory details by SKU, lot, warehouse and inventory category
• Stock status reporting with detailed analysis of inventory position, purchase and sales
• Product recall reporting
• SKU moving average report by user-defined periods

Inventory Costing

3rdwave provides for processing inventory receiving charges, holding and/ot financing charges, either as allocated expenses to the cost of the product, or as period expenses with a notional allocation against the product. 3rdwave ensures detailed allocation of costs to inventories are done by means of programs which link the accounts payable module to a cost/budgeting program, together with a comprehensive international costing program.

3rdwave's Integrated Features

3rdwave's Inventory and Warehouse Control module brings complete visibility and contextual positioning to the status of goods across the entire supply chain. With integration to other modules, real inventory status fully supports sales and marketing efforts. The Inventory and Warehouse Control module is internally integrated with:

• Supplier Relations Management (SRM)
• Customer Relations Management (CRM)
• Global Logistics
• Accounting and Finance

3rdwave Global Inventory & Warehouse Control - Benefits

• Improved inventory management - Visibility across all organizational inventory positions maximizes inventory utilization to fulfill manufacturing or customer commitments and positioning of inventory to the required distribution center. Comprehensive stock status reports allow users to easily manage warehouse transfers and redirect inbound shipments to maximize inventory utilization.
• Total product recall management and control - 3rdwave's fully-integrated environment provides total pedigree of a product from originating global supplier (with production lot control and country of origin tracking) through to final delivery to customers. This ensures that in the event of a product recall, the company is able to respond and comply quickly and fully with all regulatory agencies in support of the recall effort. Complete product life-cycle transparency and reporting secures the back end of a company's supply chain.
• Optimized Available-to-promise / Available-to-ship capabilities - 3rdwave total inventory visibility and allocation capabilities across all warehouse and in-transit modes ensures that goods are allocated to meet customer demand and commitments with virtual certainty of fulfillment according to plan.
• Improved customer loyalty - Customer loyalty is enhanced when the right product is delivered with the correct quality and quantity, on time and invoiced without errors. 3rdwave solutions monitor all inventory status' across the entire supply chain ensuring that the right quantity and quality required by a customer is available to meet the required ship/receive dates. 3rdwave's integration of the customer price lists and credit status virtually eliminates errors related to pricing and trade discounts. 3rdwave insures that the invoice to the customer is correct for quantity, price, terms and conditions.
• Improved productivity through streamlined work processes - Integration to Order Processing, Shipment Control, Traffic Control, Sales Order Processing and Accounting eliminates all redundant data entry. Data entry errors are also greatly reduced. Accurate real-time inventory position reporting throughout the organization allows users to effectively allocate inventory to fill production or order requirements with minimal discussion.
• Increased utilization of assets - Visibility into inventory position in the entire supply chain results in greater inventory turns, lower floor stock, reduced A/P and increased cash flow.