Oracle Cloud Inventory flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Inventory organization

The organizational unit that owns on-hand balances and is linked to a legal entity, operating unit, and inventory business function. All item transactions occur within an inventory organization.

Subinventory

A storage area inside one inventory organization, such as raw materials or finished goods. It has its own locator control flag and asset or expense designation.

Locator control options

The four settings are None, Prespecified, Dynamic entry, and Item level. Item level defers the decision to the item's Locator Control attribute.

Locator flexfield

Defines the physical address structure of a locator using up to five segments, such as aisle, rack, bin, level, and position. Segment count is fixed at setup.

Material status

A code such as Active, Hold, or Quarantine assigned at subinventory, locator, lot, or serial level. It controls whether quantity can be transacted or reserved.

Negative balance control

An organization parameter that either allows or prevents on-hand quantity from going below zero. When disallowed, a transaction that would create negative on-hand fails.

Item master organization

The organization where items are first defined. Child organizations inherit attributes, overriding only those flagged as organization-assigned.

Stockable versus transactable

Stockable items can be held in inventory and reserved. Transactable items can be moved through inventory transactions. Both flags must be set correctly before use.

Lot control options

Three settings: No lot control, Full lot control, and Lot control at subinventory transfer. Full control requires a lot number on every receipt and issue.

Serial control options

Three settings: No serial control, Predefined serial (numbers entered in advance), and Dynamic serial (numbers generated at transaction time). Serial numbers uniquely identify units.

Item category set

A group of related categories, such as product line or ABC class. Each set has a controlled-at level of item, organization, or both.

Primary UOM

The unit of measure in which an item's on-hand quantity is stored. It is fixed once transactions exist. Dual UOM adds a secondary unit for catch-weight items.

Receipt routing

Determines the path a receipt follows: Standard delivers directly to inventory, Inspection Required adds an inspect step, and Direct Delivery ships to a customer destination.

Put away rule

A rule that maps receipt lines to a destination subinventory and locator based on item, category, or source. Without a rule, the default receiving subinventory is used.

Over-receipt tolerance

A purchasing control that limits how much quantity may be received above the ordered amount. Exceeding it requires an authorized override.

Return to vendor

A transaction that reverses a receipt and returns quantity to the supplier. It can be performed before or after the goods are delivered to inventory.

Unreceive

A correction that moves received quantity back to the shipment stage before delivery. Delivered quantities cannot be unreceived and need an adjustment or return.

Miscellaneous issue

An inventory transaction that decreases on-hand quantity and posts the value to a specified expense or issue account. A transaction reason is usually required.

Subinventory transfer

A transaction that moves quantity between subinventories within the same inventory organization. It does not change the organization or the total on-hand.

Direct organization transfer

A transaction that moves quantity between two inventory organizations. It is the basis for inter-organization transfers and can create in-transit inventory.

Movement request

A two-step transfer order: ship from the source organization, then receive into the destination. Quantity in between is tracked as in-transit inventory.

Reservation

An allocation of on-hand quantity to a demand source such as a sales order or work order. The item must be reservable and the subinventory must allow reservations.

Transaction reason

A configurable code attached to an adjustment, issue, or receipt. It supports reporting and can be linked to account aliases to drive accounting.

Physical inventory freeze

A control that blocks transactions in an organization or subinventory while count tags are generated and entered. The freeze is released after adjustments post.

Cycle counting

A counting method that uses ABC classifications and count frequencies to count selected items, locators, or subinventories without freezing the whole organization.

Count adjustment approval

A workflow that requires approval before a count adjustment posts, typically when the adjustment value exceeds a configured threshold.

Standard costing

A cost method that values inventory at a predefined cost per item. Purchase price, usage, and rate variances are recorded separately and do not change on-hand value.

Average costing

A cost method that recalculates the average unit cost on each receipt. Issues are valued at the current average at the time of the transaction.

Cost processor

A period-close program that calculates and updates item costs for the period. Cost errors must be resolved before the inventory period can close.

Inventory to GL reconciliation

A comparison of inventory valuation to the general ledger inventory account balance. Differences usually trace to unprocessed transactions or unresolved cost adjustments.

Subledger accounting rules

Journal line and account derivation rules that convert inventory transactions into journal entries. Account aliases can override the default accounts.

Data security policy

A rule that limits which inventory organizations, business units, or subinventories a user can access. It works together with function privileges to control actions.