Inventory

Your internal supply chain simplified.

Workday Inventory is a true cloud application that addresses the internal inventory management needs of today’s businesses. When used with Workday Procurement, it provides visibility across your internal supply chain to decrease costs, optimize stock levels, and support growth initiatives.

Perform physical inventory counts and record adjustments directly from your mobile device.

Define par locations to easily stock, replenish, and count par inventory.

Make transactions easier while reducing the risk of errors with bar-code scanning and numerical keypads.

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Handle and transact.

Workday Inventory offers the flexibility to store, track, and replenish inventory items. Need to add a new inventory site or stocking location, or restructure the transaction approval process? It’s easy with Workday Inventory.

  • Define and place inventory in locations based on usage type such as stocking, damaged, and storage.
  • Receive and track items under lot and/or serial control across all movements in inventory.
  • Generate stock requests by requisition sourcing, inventory replenishment, web service, or ad hoc.
  • Use related actions to quickly create a pick list, pull inventory, or create a shipment.
  • Automate replenishment with an auto-purchase requisition or stock transfer request.

Manage and account.

Enable the counting of items on a predefined basis and reconcile inventory levels based on counts. Workday also supports par inventory to manage and maintain items in each par location.

  • Define basic attributes shared across procurement and inventory using a single item master.
  • Assign and manage different units of measure for ordering and stocking.
  • Create reorder points to replenish stock automatically, including auto-requisition generation.
  • Perform physical and cycle inventory counts, record adjustments, and generate resulting accounting entries. 
  • Issue comparable items when a requested item is out of stock to more effectively manage stock-outs during fulfillment.

Report and analyze.

Workday Inventory provides insight into all transactions and associated business dimensions to help drive down costs.

  • Run adjustment transaction value reports to see the impact inventory has on your bottom line.
  • Gain insight into leading causes of inventory adjustments such as damaged, restocked, or change in physical count.
  • View on-hand inventory cost by spend category to better understand what is being consumed for potential cost savings.

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