With Blue Lotus 360 inventory management module, your company can manage all inventory of your business on a single platform. Providing real-time inventory management of the entire organization, this is a significant feature for your business to expand, have complex supply chains, just in time operation, and many more.
In Blue Lotus 360 inventory management module, the entire inventory-related forms are under the inventory management menu.
- Received and Return
- Material Receive Note
- Material Return Note
- Good Received Note
- Import Costing by Item
- Purchase Return
- Service Received Note
- Service Given Note
- Issues, Transfers and Return
- Goods Issue Note
- On loan Issue
- On loan Return
- Delivery Note
- Material Issue
- Material Return
- Item Transfer
- Stock Count
- Set Re Order Level and Quantity
1. Received and Return
1.1 Material Receive Note
A material receive note is a written record that indicates the receiving details of materials from a supplier to the inventory location.
In Blue Lotus 360 under inventory management, you can find the material receive note form. You can also use the module search bar and type the relevant form name to find the form easily.
After opening the Material Receive form, you can see the below interface.
For form term description please refer to Annexures Section.
You can also directly load the details from the purchase order to the material receive form, Click the drop-down icon on the upper right corner of the header >> Get from purchase order
1.2 Material Return Note
When the materials that are required for a purpose are not fully consumed or are drawn over requirements, the excess quantity is returned to the stores, with a material return note.
In Blue Lotus 360 under inventory management, you can find the material return note form. You can also use the module search bar and type the relevant form name to find the form easily.
For form term description please refer to Annexures Section.
You can also directly load the details from the material issue to the material return note,
Click the drop-down icon on the upper right corner of the header >> Get from Material issue,
1.3 Good Received Note
Goods Received Note (GRN) is a record of goods received from suppliers. It is also proof that the ordered products had been received. Buyers compare the ordered quantity and the received quantity using the GRN and accordingly do the stock updates.
In Blue Lotus 360 under inventory management, you can find the good received note form. You can also use the module search bar and type the relevant form name to find the form easily.
For form term description please refer to Annexures Section.
You can also directly load the details from the material receive or purchase order to the good received note,
Click the drop-down icon on the upper right corner of the header>> Get from material receive or get from purchase order
1.4 Import Costing by Item
If you own a business that is involved in global trade, you might have some added costs, charges involved when importing the products. The import cost or the landed cost is the final cost of products along with all associated shipping and logistics costs required to get the goods delivered to a final location. Import costs include the cost of the products, international freight & logistics charges, currency conversion costs, import charges, port charges, customs clearance fees, import duties & taxes and local delivery.
Having a good understanding of import costing makes you take smart decisions relevant to the business. Blue Lotus 360, import costing by item form under inventory management makes this easier for you.
For form term description please refer to Annexures Section.
1.5 Purchase Return
Purchase Returns or return outwards is the process where goods are returned to the supplier. This return could be due to many reasons such as defects in the goods, lack of quality, or excessive stocks.
In Blue Lotus 360 under inventory management, you can find the purchase return form. You can also use the module search bar and type the relevant form name to find the form easily.
For form term description please refer to Annexures Section.
You can also directly load the details from the GRN to the purchase return note, Click the drop-down icon on the upper right corner of the header>> Get from GRN
1.6 Service Received Note
A service received note is issued by a buyer upon receiving the services. You can use the module search bar and type the form name to find the form easily in the inventory management module.
For form term description please refer to Annexures Section.
You can also directly load the details from the service order to the service received note, Click the drop-down icon on the upper right corner of the header>> Get from service order
1.7 Service Given Note
A service given note is issued indicating the time, date, location, and description of services offered or provided to a firm. It is a confirmation of staff or volunteer offering or providing the services.
For form term description please refer to Annexures Section.
Service given note can also come from a service order, hence you can also directly load the details from the service order to the service given note, Click the drop-down icon on the upper right corner of the header>> Get from service order
2 Issues, Transfers and Return
2.1 Goods Issue Note
A goods issue note is issued when there is a movement of goods or materials. Either it can be when the goods are moved out of the warehouse to the production or manufacturing process unit or else when you issue goods to the customer from the stores. It is based on the invoice. Issuing of the goods also reduces the number of stocks in the warehouse.
For form term description please refer to Annexures Section.
You can also directly load the details from the invoice to the goods issue note, Click the drop-down icon on the upper right corner of the header>> Get from invoice
2.2 On loan Issue
On loan issue is used to give items as a loan. It means that the sales rep or customer can pay if that item sold out. If those items are not sold, they can return those items.
You can also directly load the details from the GRN or Material Requisition form to the on-loan issue form, Click the drop-down icon on the upper right corner of the header>> Get from GRN or Get from Material Requisition.
For form term description please refer to Annexures Section.
2.3 On loan Return
On loan return is used to enter the return items that were given from the on-loan issue.
You can also directly load the details from the on-loan issue form to the on-loan return form, click the drop-down icon on the upper right corner of the header>> Get from on loan issue.
For form term description please refer to Annexures Section.
2.4 Delivery Note
A delivery note, also known as a dispatch note is related to the delivery of goods mainly related shipments. All the list of the products and quantity of the goods ordered are included in the delivery.
For form term description please refer to Annexures Section.
2.5 Material Issue
This is used to issue materials from the stores to the manufacturing locations. Usually, it is signed by an authorized person so that there may be no wrong drawl of materials.
In Blue Lotus 360 under inventory management, you can find the material issue form. You can also use the module search bar and type the relevant form name to find the form easily.
For form term description please refer to Annexures Section.
You can also directly load the details from the GRN, item transfer, or material requisition form to the material issue form, Click the drop-down icon on the upper right corn.er of the header>> Get from GRN, Get from Item Transfer or Get from Material Requisition
2.6 Material Return
This is used to return materials from the manufacturing locations to the stores.
For form term description please refer to Annexures Section.
You can also directly load the details from the material issue form to the material return form, click the drop-down icon on the upper right corner of the header>> Get from material issue,
2.7 Item Transfer
Item transfer is used to enter transferred items to location from location or to project from another project.
For form term description please refer to Annexures Section.
3 Stock Count
The stock count form is used to continuously track your stock count so that your business can keep an accurate track of the physical stock you have. After adding stock count, the system can post stock count balance as physical balance.
For form term description please refer to Annexures Section.
4 Set Re Order Level and Quantity
Re order level is the inventory level at which your company would place a new order. Using the set re order and quantity, you can set a reorder level and once the inventory reached that defined point, the quantity will be reordered. You can either set this to be manual or automatic.
For form term description please refer to Annexures Section.
Annexures
Form Descriptions
Form Combo Name | Description |
Address | Automatically load the relevant address details. If anyone needs to add another address you need to select by manually. |
Account | To select customers to where the goods are quote |
Amount | Paid amount |
BU | Relevant business unit |
BU Code | To which BU the bank account belongs. |
Currency | To enter currency |
Customer | To select a supplier from where the goods are ordered |
Credit From | To select cash or bank account |
Cheque / Card No | Cheque number or Credit card number of payments. If the user’s payment mode is cash, this detail would not be relevant |
Cheque Date | The effective day of a payment which paid by a cheque |
Description | To Enter the Description of the Item/for whole
|
Dis % | Discount percentage of the item |
Dis Amt | Discount Amount |
Date | The date on which the order is posted |
Doc No | This is used as a user reference No |
Debit to | To select creditor account |
Ex. Rate | Enter exchange rate in today |
From Project | To select the project which goods are sent |
From Location | To select the location to where goods sent |
GRN No | Good Receive Note No is unique and auto-generated for every transaction |
GIN No | Good Issue Note No is unique and auto-generated for every transaction |
Item Code | To select the Item-by-Item Code and Item Name |
Invoice No | Invoice No is unique and auto-generated for every transaction |
Location | To select the location to where the request goes to |
Multiple Credit | It allows you to enter more than one payment for a single creditor |
PR No | Purchase Return No is unique and auto-generated for every transaction |
Payee Name | The name that needs to print on the cheque |
Project | To select the project which goods are requested to |
Project Code | From which project the cheque is deposited (To which project the cheque belongs) |
Purchase | To select purchase account |
PO No | Purchase Order Number |
Pay Mode | Refers to the mode of the payment such as cash, cheque, credit card, etc |
Qty | To Enter the Quantity Required |
Quot No | Quot No is unique and auto-generated for every transaction |
Rate | To Enter the Price of the Item for the one Base unit of the Item |
Req Date | The date of a payment which needs to deposit to the bank |
Supplier | To select a supplier from where these goods are order |
Sales Rep | To enter salesperson |
SO No | Sales Order No is unique and auto-generated for every transaction |
Sub Total | No need to enter automatically calculated (Qty * Rate) |
SVAT % | SVAT percentage for the item |
SVAT Amt | SVAT amount |
Sales | To select purchase return account |
Tran No | Tran No is unique and auto-generated for every transaction |
To Project | To select the project which goods are requested to |
To Address | To select sales rep or customer |
To Account | To select the account. In financial forms, this refers to the bank name to which cheques are deposited |
To Location | To select the location to where goods received |
Unit | Indicate the unit of the Item selected |
VAT % | VAT percentage for the item |
VAT Amt | VAT amount |
Yur Ref | To insert the manual documentation No |