Set Up Inventory Management for a New Company

The Inventory Management Setup Wizard provides several pages of questions and options that help you set up the Inventory Management module for a new company. The Inventory Management Setup Wizard allows you to define warehouse options, up to four inventory categories, data entry options, what to include when calculating the quantity available, and the fiscal or calendar year. You must complete this wizard and additional procedures before using the Inventory Management module to process inventory transactions.

Before You Begin

Before beginning the Inventory Management Wizard, assemble the following information:

Your general ledger chart of accounts
A list of all inventory items containing cost, price, on-hand quantity, warehouse location, and reorder requirements
Any shipping documents, receiving reports, open purchase orders, or adjustment vouchers, which still must be processed

Make sure you understand the concepts in the Lot/Serial Number FAQs topic.

The following must be set up before you can set up the Inventory Management module:

Set up the General Ledger module for this company. For more information, see Set Up General Ledger for a New Company.
Set up the Common Information module for this company. For more information, see Set Up Common Information for a New Company.

To set up the Inventory Management module for a new company

When you access the Inventory Management module for a new company for the first time, the Inventory Management Setup Wizard appears. Complete the Inventory Management Setup Wizard.

To print a listing of your wizard selections and other module default settings, on the Completing the Inventory Management Setup Wizard page, click Wizard Listing.
To review or change any default options not included in the Setup Wizard, select the "Access Inventory Management Options to change the default settings after clicking Finish” check box.

In the Completing the Inventory Management Setup Wizard page, click Finish.
Review the settings in the Inventory Management Options window and make any needed adjustments.
Complete these additional setup tasks:

To set up price codes, use Price Code Maintenance.
To set up units of measure, use Unit of Measure Conversion Maintenance.
To set up product lines, use Product Line Maintenance. For more information, see Product Line Guidelines.
To set up additional warehouse codes, use Warehouse Code Maintenance.
To set up buyer and planner codes, use Buyer and Planner Code Maintenance.

The Inventory Management module is set up for the new company, and you are ready to maintain inventory items.