Inventory Module Flashcards
(27 cards)
What is the primary purpose of the Inventory Module in ERPNext?
To manage stock levels, track inventory movements, and maintain accurate records of products.
True or False: The Inventory Module in ERPNext can only be used for physical goods.
False
Fill in the blank: The Inventory Module allows users to manage ________ and ________ of items.
stock levels, transactions
What is a ‘Stock Entry’ in ERPNext?
A document used to record stock movements such as receipts, transfers, and adjustments.
Which feature in ERPNext helps in tracking the valuation of inventory?
Stock Valuation
What are ‘Warehouse’ settings used for in ERPNext?
To define locations where inventory is stored and managed.
Multiple Choice: What can be managed under the Inventory Module in ERPNext? A) Stock Levels B) Purchase Orders C) Sales Invoices D) All of the above
D) All of the above
True or False: ERPNext allows for batch tracking of inventory items.
True
What is the role of ‘Item Groups’ in the Inventory Module?
To categorize items for better organization and reporting.
Fill in the blank: The Inventory Module includes features for ________ and ________ management.
order, delivery
What does ‘Reorder Level’ indicate in ERPNext?
The minimum stock level at which new stock should be ordered.
What is the purpose of ‘Stock Reconciliation’ in ERPNext?
To compare physical stock with the recorded stock levels and adjust discrepancies.
Multiple Choice: Which of the following is NOT a type of stock movement in ERPNext? A) Stock Receipt B) Stock Transfer C) Stock Rejection D) Stock Disposition
D) Stock Disposition
What does the ‘Inventory Valuation Method’ setting determine?
How the value of inventory is calculated and reported.
True or False: Users can set up multiple warehouses in ERPNext.
True
What is ‘FIFO’ in the context of inventory management?
First In, First Out; a method for managing inventory costs.
Fill in the blank: The ________ feature allows businesses to manage inventory for multiple locations in ERPNext.
Warehouse
What type of report can be generated to analyze inventory performance?
Stock Ledger Report
What is the purpose of a ‘Stock Adjustment’?
To manually update stock levels for discrepancies or corrections.
Multiple Choice: Which document is used to initiate a purchase of inventory? A) Purchase Order B) Sales Invoice C) Delivery Note D) Stock Entry
A) Purchase Order
What is the significance of ‘Stock Balance’ in ERPNext?
It shows the current available quantity of each item in stock.
True or False: The Inventory Module can integrate with the Sales and Purchase Modules in ERPNext.
True
What does the term ‘Lead Time’ refer to in inventory management?
The time taken from ordering stock to receiving it.
Fill in the blank: The ________ feature in ERPNext allows for tracking of damaged or expired items.
Batch Tracking
