Create Simulated Inventory Value

Explanation

This activity calculates two simulated inventory part values. The valuation method can be selected by either selecting two cost types or two cost sets in the Create Simulated Inventory Value dialog box. The values for cost types and cost sets can be selected from the List of Values available.  

The simulation will provide information such as per item inventory value, total inventory value, and the total inventory value difference, for the two compared methods. When calculating the values for a previous period, the system will use the historical quantities but the current value for the respective cost type or cost set.

You can view the created simulation using the Inventory Value Simulation window.

Prerequisites

• An inventory part should be created and received in to inventory.
• The item value for compared cost types should already be available in IFS Applications.
• The inventory transactions must have been aggregated to include all transaction data needed in the simulation.

System Effects

• The simulation records created can be viewed using the Inventory Value Simulation window.

Window

Inventory Value Simulation

Create Simulated Inventory Value

Related Window Descriptions

Inventory Value Simulation

Create Simulated Inventory Value

Procedure

1. Open the Inventory Value Simulation window.
2. Right-click and then click Create Simulated Inventory Value.
3. When the Create Simulated Inventory Value dialog box appears, enter the site and select the year and the period from the List of Values.
4. Select a cost type from the List of Values as the Simulate value 1, and the relevant cost set will appear.
5. Select another cost type form the List of Values as the Simulate value 2, to obtain a meaningful simulation and click OK.
6. In the Inventory Value Simulation window, populate for all available simulations or search for the needed simulation.