Wasteful procurement of Inventory in the Non-Moving category

Continuing with our earlier post on inventory holding, we can use Top Records Extraction and Aging to identify inventory which has not been consumed in the last 6 months.

 

Top Records Extraction can be applied on the Inventory Ledger to identify last consumption date against each inventory code. In the Top Records Extraction dialog box enter number of records as 1, top records extraction on Transaction Date, fields to group on as Inventory Code and criteria as Movement Type = "Issue"

 

Aging can be used to identify specific inventory codes where the last consumption date is beyond 6 months from the current date. In the Aging dialog box accept the aging date as today's date/system date or current date. Choose the aging field as Transaction Date and amount field as Balance Amount. Create an aging result and extract all the 180+ days records into a separate database.

 

Now Visual Connect the aging database of non moving inventory codes to the inventory ledger (use Matches only - for a many to many match). The resultant database will give you the last consumption date entry for each inventory code permuted to every receipt and issue entry from the inventory ledger. So as an example for inventory code 'ABC123' if you have 4 receipts and issues together in the inventory ledger with one non-moving entry the resultant visual connect database will have 4*1 - 4 entries.

 

Finally on the resultant visual connect database apply the criteria  Transaction Date > Last Consumption Date .AND. Movement Type = "Receipt"

 

This will give you the final report of wasteful procurement of inventory in the non-moving category or additional inventory bought after last movement date being 6 months prior to current date.

 

Viva IDEA !

 

Jairam