Tip of the Month for: July 2020
Inventory Surplus Report
Users with multiple warehouses can review their inventory for surplus items that they can transfer to other warehouses and eliminate purchasing new inventory when enough exists in other warehouses to cover their needs.
The Inventory Surplus Report can be found under Inventory > Reporting > Inventory Valuation Reports. This report will let you select the cost to value surplus inventory at and can be exported to Excel.
Surplus Stock is computed one of three ways based on a configuration option in Inventory (Advanced # 29).
Surplus Stock = (On Hand + Showroom) - Action Level/Order Point
Surplus Stock = (On Hand + Showroom) - (Action Level/Order Point + Minimum P/O Qty)
Surplus Stock = (On Hand + Showroom) - (Action Level/Order Point + Ordering Qty)
Knowing what items you may have surplus stock in a warehouse of and the value of those items can be very helpful in making sure items already purchased are used first and additional inventory is not bought unless needed.