White paper: "Getting Spreadsheets to Work Better for Your Business" by Frances Ryglewicz (Acrobat PDF)
Every manufacturer needs to know how much is on hand, is committed to orders, has been released to production, will be available when production is complete or is due from vendors. This the snapshot information on your inventory and found on the quantities inquiry form. When all your materials events are managed and transacted in a single integrated solution you can tell quickly whether your inventory investment is right sized for current needs or whether action is required. You can monitor the real time quantities in inventory and the investment those materials represent, and that information is securely available in real time to everyone who needs it.
Tracking lots consumed in manufacturing begins at purchase receipts and flows through all production activities until final shipment to customers. When did materials arrive, did they pass inspection and when were they consumed are all important facts that must be documented for lot control. The serial/lot inquiry form provides a single stop location for investigating and tracking lots. Additional lot details are available during production processing including lot expected expiration and date of manufacturing. This data will also print on all documents in support of manufacturing.
There are many activities that impact managing freshness. The ability to accurately forecast ingredient quantity needs, to execute and complete the receiving and inspection processes promptly, to know in advance the expected consumption rate of existing or planned materials purchases, even simply being able to identify and locate oldest lots of materials by lot or location. Utilizing shelf life calculations will provide visibility for enhanced materials utilization as well as proactive awareness of expected materials losses due to sales fluctuations. With commodity prices fluctuating widely now more than ever it is important to take any steps that will improve utilization reduce waste. With expiration reporting quickly identifies vulnerable lots.