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Frequently asked questions

What is the meaning of audit?

Audit in I.M.S simply means user activities being recorded on the system. This module displays time stamped real-time user actions on the system.

What does Bin card mean?

The bin card is like your records where the daily transactions for Inventories are captured. The transactions simply refer to the inflow and outflow of Inventories, opening and closing balance/stock.

What does inventory status mean?

This refers to the various status of Inventories as they go through their various life cycle. This life cycle changes from time to time during the inflow and outflow of Inventories.

What does B.O.M mean?

The acronym B.O.M simply means Bill of Materials. This refers to the groupings of raw materials or recipes required to produce a product. This considers the source (the store), the name and the accurate quantity of raw materials required for production.

What do Payables mean?

Payables also are Account payables which is the amount of money the business pays a vendor for the service rendered or inventories supplied. The Payables module displays the current cost of inventories. The Inventory Account team is responsible for costing inventories. Where there is inflation or deflation, the user is able to make changes which will be reflected on the payable page.

What does I&QA mean?

I&QA simply means Inspection and Quality Assurance. This module is for the Quality Assurance Team, they are the gateway for incoming Inventories from Vendors. They ascertain the quality and quantity of the supplied inventories.

What is the difference between the inventory category and the product category?

Both Inventory category and Product category are for groupings. Inventories are grouped for easy identification. For instance, a business that’s into the sales of Cars can create Vehicles as the Inventory category, the product category will be Toyota, Honda, Peugeot, Mercedes Benz etc. Therefore, a black Toyota corolla 2017 model will be created under Vehicle as the Inventory category, and Toyota as the Product category.

Why do I have to create my suppliers?

Creating Suppliers simply means getting the details of your Vendors, details like Business name, contact person, phone number, email, address and location. (A). You need to create your Suppliers on the system so that when receiving Inventory, you are able to select the created Supplier from the dropdown menu. (B). You create suppliers so that when going through your received inventory history page, you would know who supplied what, when and who received and approved the supplies. (C). You create suppliers so that when returning Inventory you would know who the exact supplier you’re returning it to.

What is the I.M.S?

Inventory Management System (IMS) Application enables efficient real-time allocation, disbursement, tracking and use of business assets while minimizing losses and leakages.


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