A Report On The Warehouse Management System

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2.3 Definition of Terms Asset – Equipment that is utilized, but not consumed, in the production of goods or services supporting the program mission. An asset is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise. Damage – A condition that impairs either value or use of material; may occur in unpredictable degrees. Material may be damaged in appearance or in expected useful life without rendering it unserviceable or less useful. Goods Receipts – A goods receipt in the Warehouse Management system (WMS) is the physical inbound movement of goods or materials into the warehouse. It is a goods movement that is used to post goods received from external vendors or from in–plant production. All goods receipts result in an increase of stock in the warehouse. Goods Issue – Goods issue from the Warehouse Management System (WMS) is the physical issue of goods or materials from the warehouse. Goods issue posting results in a decrease in stock in the warehouse. In WMS, you post a goods issue for the following business transactions: a. Delivery of goods to customers b. Material staging for production c. Internal material consumption (to a cost center or project) Government–Furnished Material (GFM) – GFM is government material that may be incorporated into, or attached to, an end item to be delivered under a contract or which may be consumed in the performance of a contract. It includes, but is not limited to, raw and processed material, parts, components, assemblies, and small tools and supplies. Hazardous Material (HAZMAT) – Hazardous material refers to any material which under conditions incident to transportation is liable to cause fires, cre... ... middle of paper ... ...longer usable for its original purpose, despite the reason for its condition. Work in Process (WIP) – In N–ERP terms, WIP is material that is issued to the work site from inventory or just–in–time receipt to be consumed into the next higher assembly (Research, Development, Test and Evaluation development project, repair process, manufacturing process, kit development, etc.). While the piece part material used in the repair process is a WIP, the item of repair remains tracked in N–ERP with the appropriate condition codes in order to maintain accountability. Material shall not be issued to WIP longer than needed to stage for the work being conducted. Ideally, material should not be issued as WIP until it is actually ready for consumption. Do not allow material issued to WIP be left untouched for prolonged periods of time (generally no longer than two to three weeks).
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