Acumatica ERP – Lot and Serial Number In Inventory Management
Lot and serial number management is very important in the inventory management, especially for the industry engaged in the field of medicine and food. Even the FDA (Food and Drug Administration) has determined the application of the use of lots in inventory management with regard to product quality standards and search history in America.
Afterwards, several companies outside the industry of medicine and food are starting to realize the benefits of application of the system of lot and serial number of this as an effort to improve quality, provide inventory information that is more accurate and improve customer satisfaction so now they began to apply management lot and serial number in their business operations.
What is Lot?
For those – the production, the term lot is a very commonly used term that means that a quantity of goods produced in a given period.
Quanity in one lot, usually always stay from time to time. The use of the term lot is not limited only to the specific production area, but the term can also be used on a lot area of purchasing (buying).
For example, each shipment from a supplier who received the company usually given information such as lot numbers so that when there are problems of quality, the goods can be traced based on the information the receipt number, date of receipt, purchase order number, lot number and other suppliers.
What is a Serial Number?
On product – specific products, usually been accompanied by a unique serial number (there is none). Serial number is a set or a series of unique characters that can consist of a combination of alphabet and numeric (alphanumeric) which is used to identify an item or product. In contrast with the lot number that can be used for a number of quantity, serial number can only be used for one quantity only.
Lot / Serial Number On Acumatica
In Acumatica, lot and serial number are the same in function. But even so, these two things are different in terms of behavior (behavior). Lot and serial number can be found and we have managed in the module inventory, purchase orders and sales orders.
Methods Award lot / serial number in Acumatica called the Assignment Method where this can be done when the item is received (into the warehouse), or when the item is used (eg when the item out of the warehouse for the sales order or the assembly).
Lot / Serial Number can also be made in the Auto – Generate or manually. Numbering type options can be combined according to the needs which type of numbering that can be used are:
- Auto – Incremental Value
- Month Long
- Year Long
- Custom Date Format