Tip of the Month for: May 2020
Suggested Vendor Returns to Assist with slow-moving and dead inventory
A new combination of features allows checking a check-box option in the Inactive Inventory Report (found under Inventory Management-->Reporting-->Status Reports to have it update a new Suggested Vendor Returns screen, very much like a Daily Inventory Review can update Suggested P/O's for items that are running low and in need of replenishment. The Inactive Inventory Report was chosen as the starting point due to the many options it offers to assist in identifying slow-moving or dead inventory items and it was expanded even further in the last release with a new filter on inventory classes. Once this report is run and has identified items that you would like to consider for return based on the many parameters you can use to do so, you can check a new box to have it update this same list of items into a new Suggested Vendor Return file.
These items can then be reviewed even further using a new Suggested Vendor Returns program found under Inventory Management-->Processing-->Vendor Returns. This program works identical to Suggested P/O Review for those users familiar with it, thus allowing the review of items in much more detail than any report can offer. The same program format was used since in many cases it will be buyers that could be reviewing items for return and they are hopefully already familiar with using this style program. Also it means this program offers all of the same information and additional drill-down inquiry type windows that Suggested P/O Review does. Items can be approved for placing on a vendor return (without having to enter one manually) and even applying a restocking fee if needed, or items can also be transferred to another warehouse that may be selling them better than the warehouse being reviewed.