DEAR allows the following costing methods:

  1. FIFO
  2. FIFO - Serial Number
  3. FIFO - Batch
  4. FEFO - Serial Number
  5. FEFO - Batch
  6. Special - Batch
  7. Special - Serial Number


FIFO, FIFO - Serial Number, FIFO - Batch Methods:

Use the “First-In First-Out” Inventory Costing Method to determine the value of goods sold where in the first batch of purchased inventory will be the first ones to be sold. The first goods that were purchased are going to be the first cost that will associate with the sale. This method normally assumes that the oldest goods are sold first, but the physical movement of goods does not necessarily have to follow this order. Variations FIFO - Serial Number and FIFO - Batch make Serial number/Batch field mandatory.


FEFO - Serial Number, FEFO - Batch Methods


Use the “First-Expired First-Out” Inventory Costing Method when material requirements are serviced in the order of items with the earlier date of consumption regardless of the date of entry or acquisition.

FEFO is mainly used in the food industry and where it is required to monitor the expiration date or period of durability. Variations FEFO - Serial Number and FEFO - Batch make Serial number/Batch field mandatory.


Special-Batch:


Use the Special-Batch Inventory Costing Method to determine the cost of goods using their assigned Batch numbers.

The DEAR Inventory system is capable of tracking goods sold, using an assigned Batch number, once the sold items are invoiced. This will allow user to trace goods in case a recall occurs or customer requires any information about the product/batch sold to them.

The Purchase and Sale Order System incorporates the Product’s Batch number when the Special-Batch Costing Method is used.


Create a New Product using Special-Batch Costing Method:


Follow the steps in section "Product Management" to Create a New Product.

For this example, we added ‘Aloe Sunscreen’ and selected ‘Special-Batch’ as its Costing Method.



Specify Batch Number during a Purchase Order (Stock Received stage):


Before you authorize the Stock Received in your Purchase Order, specify the Batch Number for this product.

Refer to the Purchase User Manual on how to create a Purchase Order.



Select Batch Number during a Sale Order (Pick Stage): 


In the Pick stage of a Sale Order:

  • Select the Batch Number of the product being sold
  • If there are multiple batches, user will be able to choose by clicking the Batch/Serial Number’s drop-down list box.
  • Authorize this stage and Pick instructions will be sent to the corresponding warehouse


Refer to the Sale User Manual on how to create a Sale Order.




In the Pack stage of the Sale Order, Product’s Batch/Serial Number will be indicated so the staff will know from which Batch they should pull the items for packing and prepare for shipping.


Special - Serial Number:


Use the Special-Serial Number Inventory Costing Method to determine the cost of goods using their assigned Serial Numbers. Adding Serial Numbers to your product is extremely helpful to your business because:

  • Each product will have its own unique identifier and can be easily verified whenever there is a product return. You can also make sure that the product returned is from your store.
  • It makes handling of warranty and claims simple.
  • Your business’ product reporting will be accurate up to Serial number level.
  • Search within your Inventory or past Sale and Purchase Orders will be easier and save you time looking for a specific product.


Create a New Product using Special-Serial Number Costing Method: 


Follow the steps in section "Product Management" on how to Create a New Product.

For this example, we added ‘Singer Sewing Machine’ and selected Special-Serial Number as its Costing Method.




Specify Serial Number during a Purchase Order (Stock Received stage): 

Before you authorize the Stock Received in your Purchase Order, specify the Serial Number for the product/s ordered (Refer to the Purchase User Manual on how to create a Purchase Order). Notice that the quantity ordered is ‘5’, in the Stock Received tab; it shows 5 records for user to enter each product’s unique Serial Number.


Select Serial Number during a Sale Order (Pick Stage):

In the Pick stage of a Sale Order:

  • Select the product with Serial Number.
  • If there are multiple available products, user will be able to choose by clicking the Batch/Serial Number’s drop-down list box.
  • Authorize this stage and Pick instructions will be sent to the corresponding warehouse.

Refer to the Sale User Manual on how to create a Sale Order.



In the Pack stage of the Sale Order, Product’s Batch/Serial Number will be indicated so the staff will know from which Batch should they pull the items for packing and prepare for shipping.



Select Serial Number during Production (Pick Stage):



During the Picking stage on the Finished Goods screen:

  • Select the product with Serial Number.
  • If there are multiple available products, user will be able to choose by clicking the Batch/Serial Number’s dropdown list box.

Authorize this stage and Pick instructions will be sent to the corresponding warehouse.





Assign Serial Number during Production:

When producing finished goods that require serial number the process is as follows:

1. Enter in the batch number



2. The system generates a serial number for each item by taking the batch number and adding a sub-number to the end of the batch number



 If a completely different serial number is required it's recommended to run production for each item separately.