Inventory Glossary - I

A  B  C    D  E  F    G  H  I    J  K  L    M  N  O    P  Q  R    S  T  U    V  W  X    Y  Z

I

initialization

Defines cycle count classes and items, based on an already existing ABC compile.

inter-organization transfer

Transfer of items from one inventory organization to another You can have freight charges and transfer credits associated with inter-organization transfer. You can choose to ship items directly or have them go through intransit inventory.

intransit inventory

Items being shipped from one inventory organization to another. While items are intransit you can view and update arrival date, freight charges, and so on.

inventory controls

Parameter settings that control how Inventory functions.

inventory item

Items you stock in inventory. You control inventory for inventory items by quantity and value. Typically, the inventory item remains an asset until you consume it. You recognize the cost of an inventory item as an expense when you consume it or sell it. You generally value the inventory for an item by multiplying the item standard cost by the quantity on hand.

inventory parameters

The set of controls, default options, and default account numbers that determine how Inventory functions.

item attribute control level

To maintain item attributes at the item master attribute level or the organization specific level by defining item attribute control consistent with your company policies. For example, if your company determines serial number control at headquarters regardless of where items are used, you define and maintain serial number attribute control at the item master level. If each organization maintains serial number control locally, they maintain those attributes at the organization specific level.

item attributes

Specific characteristics of an item, such as order cost, item status, revision control, COGS account, etc.

item category

See category.

item master level attribute

An item attribute you control at the item master level as opposed to controlling at the organization level.

item status

Code used to control the transaction activity of an item.

Item Validation Organization

The organization that contains your master list of items. You define it by setting the OE: Item Validation Organization profile option. See also organization.