Items overview

When you work with the Items Master application, you work with rotating items, meters, meter groups, item kits, item assembly structures, and item statuses.

Rotating items
A rotating item is a serialized asset, such as a pump or a notebook, that you define with a common item number. You designate an item as rotating because it shares properties of both items and assets.
Item kits
An item kit is a group of items that are issued as a single unit. You can assemble an item kit and add the kit to a storeroom as a package of items.
Item assembly structures
An item assembly structure is a list of parts and subassemblies that you need to build an item or to define the requirements of a location. Use item assembly structures on rotating items and on items in a kit.
Item master statuses
You can manage the status of an item for all related records. A set of inheritance rules are used to apply changes to an item from a higher-level to a lower-level. A change to the item status is applied to the organization and to the inventory level. From the organization level, a status change is applied to the inventory level.
Stock category types
There are three stock category types: non-stocked (NS) items, special order (SP) items, and stocked (STK) items. Using stock category types helps you identify items for reorder and minimizes administration work when ordering occasionally used items.
Consignment items
Consignment items are owned by external vendors. The consignment items are located in a local storeroom, and are considered part of the consignment inventory. You can keep consignment items in your storeroom, and pay for those types of items when you use them.
Meters
You can create meters and associate meters with items. The associated asset or location record is updated with the quantity that was issued and decreases the storeroom balance of that item.
Meter groups
A meter group is a set of meters that you can apply to an asset record. Any meter group that is associated with the rotating item is automatically applied to any assets that are created for that item.
Tax-exempt status
The tax-exempt option indicates whether an item, a tool, or a service is taxable. You might want to set the tax-exempt status, depending on where an item or a service is acquired, and how an item or a service is used.

Parent topic: Item Master