Costing Methods & Item Creation Governance
Raw material and finished goods costing methods—Standard Cost, Average Cost, FIFO, and LIFO—are configured per item class to align with manufacturing cost accounting requirements. Custom cost roll workflows are established for finished goods, incorporating lot date codes in YYWW format for full traceability. Item creation follows a two-step approval process between QA and Finance teams for new inventory items during MVP, ensuring master data quality before items are transactable in NetSuite.
Inventory Adjustments & Approval Thresholds
Inventory adjustment workflows enforce approval rules based on a $1,000 value threshold and reason codes, routing above-threshold adjustments to Controller review. Excel-based approval processes are maintained for MVP phase with a roadmap to fully automated NetSuite workflows in subsequent phases. Inventory adjustments are tracked with system notes, providing an immutable audit trail for financial and operational compliance. Reason code configuration ensures root cause data is captured for variance analysis.
Lot Tracking, Replenishment & WMS Integration
Lot tracking with YYWW date codes provides full traceability from raw material receipt through finished goods shipment. Time-phased inventory replenishment is configured using statistical forecasting, demand-driven planning, and network replenishment strategies to maintain optimal stock levels across locations. In Phase 2, lot charge items and automation of fallout TWM service invoices are implemented to streamline billing for lot-based spoilage and service events. Integration with the WMS Cloud Service supports real-time bin-level inventory updates and automated printing.