Basic Concepts in Oracle Inventory - Part2

Asset management attribute group

These are the attributes you have to give for asset management.

Asset item type-

This attribute identifies the asset item as an Asset Group, Asset Activity, or Rebuildable item.

Activity type-

This is relevant when the Asset Item Type is set to Asset Activity. This indicates the type of maintenance for this asset activity.

Costing attribute group

You have to set these attributes while defining or updating items.

Costing enabled-

Indicate whether to report, value, and account for any item costs.

Inventory asset value-

Indicate whether to value an item as an asset in inventory. Turning this option off indicates an expense item.

Cost of goods sold account-

This attribute is controlled at the Organization level only.

Enter a general ledger account to use as a source for the Cost of Goods Sold Account. The default cost of goods sold account is set when you define organization parameters.

Purchasing attribute group

Purchased-

Indicate whether to purchase and receive an item. Turning this option on allows you to set the Purchasable attribute.

Purchasable-

Indicate whether to order an item on a purchase order. You can set this only when Purchased is turned on.

Receipt required-

Indicate whether you must receive an item before you can pay the invoice. Leave this field blank if you want Inventory to use the value defined in the Purchasing Options window for transactions involving this item.

i.e. three way invoice matching

Inspection required-

Indicate whether to inspect an item upon receipt from the supplier, before paying the corresponding invoice. Leave this field blank if you want Inventory to use the value defined in the Purchasing Options window for transactions involving this item.

Encumbrance account-

This attribute is controlled at the Organization level only.

Enter the default encumbrance account Oracle Purchasing uses when an item is received. If the item encumbrance account does not exist, Oracle Purchasing uses the sub inventory account.

Expense account-

This attribute is controlled at the Organization level only.

Enter the default inventory account for expense items. This attribute is used only when Inventory Asset Value is turned off. Oracle Purchasing debits this account when you receive an item into inventory only if the item is being expensed. If you receive into an expense subinventory, Oracle Purchasing uses the expense account you assigned to the subinventory first; if you do not define the account here, Oracle Purchasing uses the expense account assigned to the item.

Receiving attribute group

In this group major attributes are receipt date controls, valid transactions and over-receipt quantity control.

Physical attribute group

The main attributes like weight, volume, dimension are shown below,

General planning attributes

Inventory planning method-

Here you can select option for organizational level planning.

Like not planned, min-max or recorder point.

For min-max quantity, order quantity and source.

For source you can give inventory, subinventory or supplier.

Order Management attribute group

Customer ordered-

Indicate whether to allow an item to be ordered by external customers. You can add any customer orderable items to price lists in Oracle Order Management.

Shippable-

Indicate whether to ship an item to a customer. Shippable items are released by Oracle Shipping Execution’s Pick Release program, creating confirmable shipping lines, and are printed on the pick slip.

Default shipping organization-

Enter the Oracle Shipping Execution primary shipping organization.

Picking rule-

Enter the picking rule that defines the order in which subinventories, locators, lots, and revisions are picked.

Invoicing attribute group

Invoicable item-

Indicate whether to include an item on an Oracle Receivables invoice.

Accounting rule-

Enter an accounting rule to identify special revenue recognition rules for an item, such as recognizing revenue over time.

Invoicing rule-

Enter an invoicing rule to determine the period in which you send an invoice when you recognize revenue over time (using accounting rules).

Sales account-

This attribute is controlled at the Organization level only. Enter the general ledger account Oracle Receivables uses to record revenue when you bill the customer. If Auto-Accounting is based on items, accounting entries are created at that time.

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