The Part Inventory Location Manager (PILM) frame allows you to define location specific information for parts that exist in the Part Main Catalog. The Part Main Catalog frame contains general information for all part records at all locations. Part Inventory Location Manager contains the information that is specific for a given part at a given inventory location.
The PILM record has information such as stock quantities, on-order quantities, and quantities in transit as well as pricing methods, bin locations, transaction histories, vendor reordering information and more. When you receive parts into inventory, you are updating the record at the inventory location.
After you create a part record in the Part Main Catalog, you must go to the Part Inventory Location Manager and add that part to the desired inventory location.
Note: You must sign in at the location to which you want to add the part. The location in Part Inventory Location Manager defaults to your current location.
How to:
You can add single or multiple attachments to the part.
Select the Attach button. The Show Attachments window displays. When attachments exist for a part, the Attach button appears as orange.
Select the link to:
Attach a new file
Attach a web address
Attach a previously uploaded file or web address
Enter a description, and then select the attach prompt. The Existing Attachments i-frame displays.
Select OK.
On the Show Attachments window, the Existing Attachments i-frame displays:
Enter a part Number or select from the Parts Stocked at Location list.
Select SAVE.
Number - New part for the inventory location. Limited to 30 characters.
Manufacturer - Read-only. Entity that makes the part. Must be a valid manufacturer created on the Part Manufacturer frame. Defaults from the Part Main Catalog record.
X Refs - Displays any Cross Referenced Parts associated with the master part record.
Status - Read-only. Defaults from the Part Main Catalog record.
Description - Read-only. Defaults from the Part Main Catalog record.
Type - Read-only. Indicates if the part NEW, Used, or Rebuilt.
Free form notes field to add any additional information about the part that may be specific to the inventory location.
Parameters Tab
Stock Type - Stock, Nonstock, or Consignment. The stockness of a part is set on location, even though you set a value on Part Main Catalog. Consignment parts are stocked at the location at no charge with the vendor tracking the inventory and only charging for used parts.
Issue to Department - Yes or No. Select Yes to allow issue of the part directly to a department.
Core Tracking - Yes or No. If the part has a core, select Yes.
Qty On Hand - Current quantity of stock parts available.
Added to Loc - Date the part was added to the inventory location. For parts that are new to the location, the field is blank until you save the record.
Cost Category - Cost Category Codes are user-defined and used in conjunction with the Supply Distribution frame.
Primary Vendor - Defaults based on the Primary Vendor from the Part Main Catalog record. To change this value at the location level, enter a new Vendor No. on the Reorder tab within Vendor Ordering Information, and select SAVE. See System Flag 5355 to push updates from Part Main Catalog to all inventory locations.
Alternate Vendor - Defaults based on the Secondary Vendor from the Part Main Catalog record. To change this value at the location level, enter an Alternate vendor on the Reorder tab within Vendor Ordering Information, and select SAVE. See System Flag 5355 to push updates from Part Main Catalog to all inventory locations.
Markup Scheme - You can apply a valid markup scheme to the part by entering a value in the field.
Reorder Allowed - Yes or No. Select Yes to allow reordering of this part.
Issue to Account - Yes or No. Select Yes to allow issuing of the part to direct accounts or indirect accounts.
Core Charge - Defaults from the Part Main Catalog record and can be updated on this frame.
RAV - Round Average Variance. Occurs when there is not an exact or even dollar amount as a result of a stock part receipt transaction.
Charge Code - Validated field used to identify parts issued or transferred through the Supply Distribution frame.
System Flag 1058 controls the pricing methods. The pricing methods are:
Location
Average
Location Standard
System Average
System Standard
See Part Inventory Pricing for additional information.
Note: This flag is locked and cannot be changed in the application. Consideration should be given upon the initial setup of the value to assign to this flag. After a value is set, we recommend you do not change the value. Changing the value could have impacts across the application.
Primary - Primary bin location for the part. Only stock parts can have a bin location. System Flag 5033 controls whether bins are mandatory or validated on parts.
Alternate(s) - Additional bin locations for the part.
The Stock Status tab displays stock information as read-only for the part at the specific inventory location. The On-Hand (in stock), On-Order, and In-Transit, Quantity, Reserved parts, Available parts, and dollar Value can be viewed here.
The Last Event tab displays the last Date, Quantity of issue, and Total Price for part issues, part receipts, transfers in and out, and for the last physical inventory count. Also the Vendor, From and To locations for transfer, and Variance information display.
The History tab displays the History by Period information:
Period
Issue Qty
Transfers Out
Transfers In
Receive Qty
Physical Inventory
On-Hand Qty
On-Order Qty
On-Hand Value
Unit Cost
Most Issued At Once
High Issued/Transfer Out
U/M - Unit of Measure. Requirement of the primary vendor ordering the part.
Pack Size - Requirement of the primary vendor ordering the part.
Issue Qty - Requirement of the primary vendor ordering the part.
Vendor No. - Vendor number and name.
Vendor Part Number - Part xref number and source.
Alternate - Alternate vendor number and name.
Print Bar Code Labels - Yes or No. Select Yes to prompt the user to print bar codes for the part after receiving the part.
Unit Of Issue - Defaults from the Part Main Catalog record. See System Flag 5355 for additional information.
Reorder Method - Manual or Automatic.
Std Order Qty - Standard Order Quantity. If the field is blank, the quantity on hand is subtracted from the maximum quantity to be used as the reorder quantity.
Average Use/Day - Automatically calculated by the system. This offers a frame of reference when setting up the minimum and maximum reorder quantities. The system calculates this value during the End of Period process.
Turnover Ratio - The quantity that has been received and issued within one fiscal period.
Max Inv Qty - Maximum Inventory Quantity. The maximum amount of parts to keep on-hand.
Max Inv Level - Maximum Inventory Level. The maximum amount of total inventory at the location.
Min Inv Qty - Minimum Inventory Quantity. The minimum amount of parts to keep on-hand.
Min Inv Level - Minimum Inventory Level. The minimum amount of total inventory at the location.
Reorder Days - Set on a vendor by vendor basis on the Vendor Main frame.
The system automatically calculates the values in this section (except Season Code) based on the ABC Class assigned to the part and the part's transaction history.
Season Code - Requires a valid code from the Season Codes frame.
Min Inv Qty - Minimum Inventory Quantity. Minimum inventory quantity calculated by the system.
Econ Order Qty - Optimal order quantity calculated by the system.
Max Inv Qty - Maximum Inventory Quantity. Maximum inventory quantity calculated by the system.
Safety Stock - Quantity that must be kept on-hand in case the part is needed. The safety stock considers the Vendor Lead Time.
Actual/Forecast Ratio - Actual Ratio vs. Forecast Ratio.
Average Lead Time Day(s) - Time (number of days) from when the order is placed with the vendor to the time the part is received.
Forecast Qty - Forecasted order quantity as calculated by the system.
ABC Class - User Value indicates the ABC Class Code. System Value is the definition of the ABC Class Code.
Usage Factor - User Value indicates how active or fast moving a part is. System Value is the usage factor value (for example, 0.500).
Service Level % - User Value is the percentage of time a part should be in stock. System Value is the percentage amount.
You can delete or remove a part from an inventory location if the part is not involved in any part transactions involving the location and the part has zero quantity on hand at the location.
Enter the part Number to delete.
Select DELETE. The Action Required window appears.
Select Delete to confirm the action.
If a part is marked missing and finalized, you can bring back missing serialized parts.
Within the Settings section, when you select the Serial Info button, the Part Serial Number Detail frame displays. On the Part Serial Number Detail frame when you have the SER PART AUTH privilege, you can populate the Active checkbox for a part previously marked as missing and the location that the part will return back into inventory.
You are required to enter a value in the Inventory Location column on Part Serial Number Detail within the Part Serial Detail i-frame. The Inventory Location column functionality puts the serialized part into that location’s inventory. A +1 SERIALCT transaction is created that the part was associated with when it created the transaction for it when it was marked missing. You must have the SER PART AUTH privilege.
Type of pricing to use for inventory values? Is used to determine the inventory pricing method the system uses.
A part’s inventory price is calculated at the time of receipt, based on the pricing method in force. The pricing method is typically chosen at the implementation of the system and is never changed.
The four available pricing methods used to value inventory:
SYSAVG (System Average)
LOCAVG (Location Average)
LOCSTD (Location Standard)
SYSSTD (System Standard)
System Average pricing averages the price for stock parts every time the part is received. A new price is calculated from the on-hand value at all locations and the receipt value. The formula is the same as the Location Average method, but the on-hand quantity used is the sum of the quantities at all locations. The resultant unit price is then written back to all locations. For a given part, the price will be the same at all locations. For instance, location A has part PH16 with a quantity of 1 with a price of $10.00. The part is received again with a quantity of 1 with a price of $12.00 at location B. The new price for each part at every location is $11.00.
Location Average pricing does the same averaging of parts but at the location level. The reason this is useful is that inventory locations can be in various places with the price of parts being effected regionally. This will mean that the same part PH16 for instance can be a different price from one location to the next. This method is recommended as best practice from AssetWorks and System Flag 1058 is defaulted to LOCAVG (Location Average).
A new price is calculated from the on-hand value and the received value. That is, the result of the current on-hand quantity times the old price, is added to the result of the received quantity times the receipt price, yielding a dollar value, that is then divided by the sum of the current on-hand quantity and the received quantity.
In formula form:
New_price =
((qty_on_hand * old_price) + (received_qty * received_price)) / (qty_on_hand + received_qty)
Example:
qty * price = value
on-hand 2 $ 5 $ 10
receipt _ 8 4 32
10 42
new price $4.20
There are screens and components in M5 that will average the cost of inventory. The numbers in the LOCAVG (Location Average) example above were chosen so that the calculations are easy to follow. In the real world, the resultant price will likely include fractions of a cent. The price is rounded off to the nearest cent, but we don’t throw the fractional portion away. Its value is stored in a field called ‘RAV Amount’ – Rounding Adjustment Value.
By using RAV, money that was lost or gained by rounding the average unit price or by issuing at a different price than the current pricing method is wrapped back into the next average price. It is important to understand that RAV can be a negative value or a positive value but will be pennies and NOT a significant amount.
The average unit price calculation includes the RAV, and is always performed independent of the current pricing method. The average unit price calculation is only performed when parts are received and returned.
When the next receipt occurs, this amount is added to the total dollar value just before dividing by the total quantity to get the new unit price. In the example above, if the ‘RAV Amount’ had been $0.40, the total dollar value would have been $42.40, yielding a new unit price of $4.24 instead of $4.20. In that way, the fractional portion of the previous receipt is put back into the inventory valuation.
The RAV Amount is not applicable when using the Standard pricing methods, because no calculation of the price occurs. It is also not applicable for non-stock parts under any pricing method.
New Location AVP = Old L.A. RAV + (Old OHQ x Old LAUP) + (Rcv Qty x Rcv UP)
_____________________________________________________
(Old OHQ + Rcv Qty)
Note: The system average price is derived from the location average price. When a new location average unit price is calculated, a new RAV value is calculated:
New L.A. RAV = New OHQ x (New LAUP - (round of New LAUP))
AVP - Average Unit Price
L.A. - Location Average
LAUP - Location Average Unit Price
RAV - Round Adjustment Value
OHQ - On-hand Quantity
Rcv Qty - Received Quantity
Rcv UP - Received Unit Price
Location Standard pricing is a standard price set on Part Inventory Location Manager and will be set for a part at a single location. Again, no matter what the price the part is received at, the price upon issue will always be the standard price set on the location. It is only changed on this frame.
System Standard pricing is a standard price set on the Part Main Catalog frame. The old price is not changed. No matter what cost the part is received at, the cost when issuing the part is established solely by the user-entered value of Standard pricing field on Part Main Catalog. A receipt under this method will not affect the standard price, regardless of the price of the receipt. It is only changed on this frame.
A part’s price is not directly changeable unless it is changed through the Part Inventory Adjustment frame. This frame is authorized through System Security. The price is always the result of receipts (except for the SYSSTD and LOCSTD method). The price of non-stock parts is less protected, because the user may change it at the time of receipt, and therefore affect the resultant price.
When a new part is added in Part Inventory Location Manager frame, the price entered in the Standard Price field is used. This occurs regardless of the pricing method in force.
For non-stock parts, no averaging occurs under any pricing method. The price is set as a part is received. The price can be set differently each time and is valid for that issue.
If a non-stock part order is partially received, only the first receipt will update the inventory price and the order price. This prevents a single order of two or more of a part from generating different unit prices from the same order.
When you change the Stock Type from Nonstock to Stock, the system generates the message, "Do you wish to calculate this part's average cost at this location (this action cannot be undone)?" When you select Yes the system recalculates the Location Average Price to the part received amount. When you select No, the Average price remains the same as the Standard price.
A user may be authorized to only add stock or non-stock parts to the location, but if the user has authority to do it, any part can be made stock or non-stock. If the part master is stock, then the part location record can be stock or non-stock. If the part master is non-stock, then the part location record can only be non-stock.
1058 - Type of Pricing to Use for Inventory Values? - This flag specifies the pricing method used to value inventory: LOCAVG (Location Average), LOCSTD (Location Standard), SYSAVG (System Average), and SYSSTD (System Standard).
1315 - Warranty "Warn if no Part Warranty for parts above defined System Price?" - This flag determines if a warning message should be given when a part record, above this specified price, is saved without warranty terms being defined.
2039 - Search for part by bin. - When the user inputs a bin number in a part number field and if that number is not a part or xref number, it will show in the field the actual part number in that bin and location. If there are more than one part number in the bin, then present a list of parts the user can choose from. The following screens will have this functionality:
5010 - Client Prefix Code - This system flag sets the Client Prefix Code, usually set by AssetWorks.
5012 - Maximum number of Part Catalogue records for automatic search - This flag denotes the maximum number of part records to auto query when a user requests a search on the same part number that has multiple manufacturers. This flag works with the functionality that displays a list of values when the user tabs out of the part number field. If the part number requested has more than the allowable number of parts to return denoted by this system flag then the list of values will not auto query. This is to prevent a long running search of query results from potentially slowing the system down. In the event that the part number count exceeds the allowable parts count and the list of values does not auto query the user needs to enter additional filter criteria to manually search. The default for this system flag is 100.
5033 - Require/Validate a Part Bin Number? - This flag will control whether a part bin number is required/validated:
5034 - Display Serial Number info. For Parts Transactions? - Set this flag to Yes if the user would like to display the Serial Number information for all inventory functions.
5095 -Utilize unit of measure pack size conversion? (Y/N) - Setting this flag to "Y" will utilize unit of measure conversions.
5136 - Open MIN/Max reorder fields for consignment parts. (Y/N) - Setting this flag to "Y" will display the reorder information on the part inventory location manager frame. The min and max inventory quantity fields will then allow updates.
5210 - Restrict part stockness at location level? - This system flag takes effect when the user adds parts to a location, or changes the stock flag on the location inventory record. If this system flag is set to "Y", and the part master is non-stock, then the part location record can only be non-stock. If the part master is stock, then the part location record can be stock or non-stock regardless of this system flag setting.
5409 - Allow deleting part from inventory while it is in transfer request? (Y/N) - If set to Y, a user can delete a part at the Part Inventory Location level when a transfer is in "REQUEST" status ONLY. If set to N, a user cannot delete any part that is currently on a transfer, regardless of the transfer's status.
Default Value is "Y".
5528 - Utilize Finalization method for Serialized Part Physical Inventory counts (Y/N) - When this flag is set to Y, only employees who are Supervisors will be able to 'create" and "finalize" a Serialized Part Physical Inventory count.
INSERT PART INVENTORY - Authority for user to add a part to their location on the Part Inventory Location Manager frame.
NATIONAL PARTS - Allows a user to add or update values in fields on Part Inventory Location Manager that are locked by the National Part flag on Part Main Catalog.
SER PART AUTH - Controls the ability to mark a previously missing part to Active again and placed in the appropriate Inventory Location.
UPDATE PART INVENTORY - Authority to update part inventory.
Core Processing
Overview
Department
Main
Direct
Account Codes
Indirect
Account Codes
Markup
Schemes
Part Main Catalog
Part Manufacturers
Season Codes
Vendor Main
Inventory
Application User Training Guide
Last Updated: 4/23/2019, 03/2023, 07/2024
NOTE: To view a list of System Flags and Role Privileges that may impact this screen, hover over the screen title in M5 to display the bubble help/tooltip. At the bottom of the bubble help/tool tip, there is a Settings hyperlink. Click that hyperlink to display the list of flags and privileges.
Additional training and technical documents on this subject may be available in the Resource Files area.