Control over inventory from receipting and manufacture to issuing and sales is provided within Landmark. The facility to track inventory by item number, serial number or batch is provided at item level to provide flexibility for all types of inventory including component parts and finished goods, individually numbered items with warranty periods, perishable products requiring "use by date" control and tracking by batch and customer. Landmark allows for customer orders to be placed for large ticket items which are not normally stocked due to infrequency of purchase or customer-specific specifications. Landmark will automatically raise a purchase order requisition for delivery and invoicing to the customer, maintaining tight control on catalogue items. Assembly of kits and items requiring a bill of materials are handled by Landmark, ensuring accuracy of costing. All inventory modules are multi-location, providing flexibility in varying situations.
Management control over the Purchasing function may begin at requisitioning and proceed through to the raising of purchase orders and receipt of goods with or without invoice. Requisitions may be either manually entered or created by the Inventory Management automatic reordering process based on formulae to calculate suggested reorder quantities. Purchase orders may be raised for inventory items, project or job costs in the Cost Ledger, or directly against General Ledger expense accounts for sundry purchases; orders may be amended or cancelled prior to completion, with the printing of purchase orders on request. An optional authorisation control system is available to ensure only approved purchase orders are raised and processed. Where invoices are entered before or after receipt of goods, Landmark will automatically account for any variances in pricing by adjusting for the difference in all related systems including the General Ledger. Supplier pricing details and purchasing delivery history are available to assess supplier performance.
IMPORT COSTING
Landmark monitors import shipments from first notification to final delivery, and calculates landed cost for accurate inventory valuation. The components of landed cost include the purchase value in local currency using the current or a fixed exchange rate, customs duty, tax, other costs such as freight spread across the shipment, and optionally, currency fluctuations. Each shipment may contain multiple purchase orders and spread factors for each shipment include value, quantities, volume and weight. Confirmed prices, duty rates, customs reference and exchange rate for duty may be generated from shipment details. Purchasing and foreign currency handling are required for Import Shipments.
The Inventory module is provided with facilities to handle receipts, transfers, returns, sales and issues of stock with full stocktake and stock adjustment functionality, providing management control over the quantity and value of stock on hand. Demand on stock may be initiated from sales, transfers, adjustments and supplier returns in any of the inventory-related modules, ensuring centralised control over availability of stock to fulfil requirements with optional automatic releasing of stock to fill backorders. Standard and average costing are provided with actual costing for serial numbered and batched items, allowing accurate valuation of stock on hand. Transfer of stock to or from inventory locations, jobs, projects, and General Ledger accounts enables full tracking of stock movements other than sales and receipts. Full transaction history in both detail and summary allows management to spot trends, analyse sales and profitability while preventing over-stocking and ensuring that customer demands are met without lost sales.
To accommodate a variety of sales situations, sales orders may be processed starting at any point including quotations, standing orders, order entry, and invoice entry with dispatch of goods. This flexibility allows multiple sales outlets to process orders according to their needs with functionality which meets their specific requirements. Automatic allocation of available stock with backordering and forward ordering ensures that customers’ demands are recorded and actioned. Where kit assembly or manufacture from component parts is required, the entry of a sales order can automatically raise a works order and explode the bill of materials. If an item is not normally stocked but ordered from a supplier when required, a purchasing requisition can be automatically generated to provide accounting and costing control over these sales activities. Extensive sales analysis reporting by customer, salesman and product on both gross sales and net (after discount) sales is provided to allow management to map sales trends and profitability.
Landmark Point of Sale allows fast entry of sales, returns, receipts and refunds in either remote or local operation providing flexibility in equipment requirements and lowering costs. With full integration to Inventory Management and Landmark Financials, Point of Sale can handle both retail sales as well as customer account sales, laybys and gift voucher sales. Facilities to calculate sales tax and print invoices for wholesale customers ensures that all sales may be handled by the one entry facility where goods are being purchased over the counter. Authorisation controls are applied to returns, refunds and float adjustments ensuring that each shift can be balanced prior to banking. Full sales and transaction analysis by customer, sales staff and product is held by point of sale for each day with reporting for any period, allowing management to measure staff performance as well as analyse profitability and turnover.
Staged works order processing is available in Landmark Production Management with facilities to create orders by exploding the bill of materials. Works orders may be created as unreleased, released into production, or completed, providing flexibility according to the production environment. Integration with Inventory Management ensures that demand on raw materials and component parts flows into the reordering function for materials requirements planning. Completed works orders may be costed to inventory where stock items are manufactured, or the Cost ledger where the destination of finished goods is a job or project, or a sales order where the cost of sale is taken as the cost of production attached to the works order ensuring accurate sales analysis. Serial numbered items and batch control is provided on both components and finished goods on each works order, allowing tracking of perishable items or those items requiring individual numbering.
