When an item remains in inventory for an extended period of time, aging may make the item more or less desirable for use in certain processes. Depending on the industry, an item may be kept in inventory until it reaches a level of maturity that makes it suitable for use.
By using lot aging profiles, the program can automatically categorise item lots based on their age. A lot aging profile consists of several lot aging categories, each with an assigned duration defined in days. Using an item lot's production date as a starting point, the program determines the lot's aging category based on the lot aging profile associated with the item. The durations assigned to each aging category let the program automatically reclassify an item lot over time.
The following table describes a sequence of activities, with links to the topics that describe them. These activities are listed in the order in which they are generally performed.
To | See |
|---|---|
Set up the different lot aging categories by which item lots may be classified. | |
Organise lot aging categories into a lot aging profile. | |
Assign a lot aging profile to an item category. |