If you need to track the movement of stock or are holding quantities on site, then you will need to be using Inventory Items. NetSuite splits Inventory Items into the following subtypes –
- Inventory Items
- Serialized Items
- Lot Numbered Items
What is a Serialized Item?
A Serialized item is an inventory item subtype that is used for individual goods that need to be tracked as unique singular quantities. Serialized Inventory Items allow you to track inventory by assigning a serial number to them at the point of receipting. This item type is most suited to, as the name suggests, physical items that have a part code or serial number that may need to be referenced in the future.
Using Serialized Inventory Items allows you to record the serial number at the point of receiving goods and then follow that serial number through to sale. You may also use serial numbers to log warranty claims or support tickets once the goods are with the customer so it is beneficial to have these in the system against the relevant customer sale.
Enabling Serialized Inventory Numbers
If you cannot find the Serialized item type listed on your New Item page (found at Lists > Accounting > Items > New) you may need to enable Serialized Inventory. Using an Administrator role follow these steps –
- Navigate to Setup > Company > Enable Features.
- Click the Items & Inventory subtab.
- Mark the checkbox for Serialized Inventory and Inventory.
- Click Save.
Using Serialized Items
When using Serialized Items you are required to assign a serial number to new quantities when they are received or added to stock. This is normally done through an Item Receipt or an Inventory Adjustment. If you are using Advanced Bin / Numbered Inventory Management then an inventory detail can used to record the location down to bin number.
The status and locations of individual serials can be seen on the item records under the Inventory Detail tab.
This shows both Available and On Hand serial numbers
|Available quantities are quantities that are not already committed to another transaction. They are free to be used. On Hand Quantities are all quantities on site regardless of if they are committed or not.
You can also view all the transactions that a serial number has appeared on via the serial number record. Click the Search Transactions action button to view a standard list that you of course can customize to meet your organization’s needs.
You can search the system for specific serial number records using the new saved search type, Inventory Numbers.
Using Serialized items and tracking only quantities of 1 can be a cumbersome task and provide a lot more opportunity for error. You will want to potentially look at some of the advanced features of inventory items and potentially look at a Warehouse Management System (WMS). Using barcoded labels operatives will only have to scan when moving serials or fulfilling orders rather than keying in numbers. Lots of WMS solutions also give a limited display so warehouse operatives only have access to selected tasks in NetSuite rather than the full User Interface.
If Serialized items are more granular than you need for your inventory tracking, you may be more interested in Lot Numbered items. These can track larger quantities under the same Lot Number. Learn about Lot Numbered Inventory Items here.
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