Microsoft ERP Beginners Tutorial - Episode 12

Jul 12, 2024

Microsoft ERP Beginners Tutorial - Episode 12

Key Topics Covered

  1. Released Products
  2. Item Model Group
  3. Item Group

Released Products Overview

  • In the previous episode, a product was created and released into a released product.
  • For a released product setup, several mandatory fields must be filled in including:
    • Item model group
    • Item group
    • Units in different tabs (called fast tabs in Microsoft Dynamics 365)

Validating Released Products

  • Clicking the validate button will show missing mandatory fields such as item model group and item group.
  • The minimal setup required to proceed with the supply chain course includes completing these fields.
  • Detailed explanations for various fields will be covered in future topics for better understanding.

Item Templates

  • Templates can be created to pre-fill mandatory fields for newly created items.
  • Two types of templates: personal (only for your use) and shared (available to all users in the environment).
  • Applying templates can save time when creating new items by copying fields from the template.

Counting Reason Code

  • Used to explain discrepancies during inventory counting.
  • Can be set as mandatory or optional.
  • Helps in identifying reasons behind discrepancies to optimize processes.

Item Model Group

  • Definition: Controls inventory valuation and costing processes.
  • Parameters: Inventory Models like FIFO, LIFO, Weighted Average, etc.
    • Each model has its own way to evaluate inventory costs.
  • Stocked Product Parameter: Determines if the product is stocked or non-stocked.
  • Including Physical Value: Allows physical transactions to be included in the cost price calculation.
  • Ledger Integration: Parameters like post physical inventory and post financial inventory affect GL postings.

Item Model Group Setup

  1. Create a new item model group by clicking on New and filling in details like name, description, and inventory model.
  2. Important parameters to configure:
  • Stocked product
  • Inventory model (e.g., weighted average)
  • Cost price inclusion
  • Ledger integration: post physical inventory, post financial inventory
  1. Additional setup parameters like physical and financial negative inventory.

Item Group

  • Definition: Groups similar items for consistent GL postings.
  • Create a new item group and assign main accounts for sales, purchases, inventory, and production processes.

Steps for Setting Up Item Group

  1. Navigate to inventory management and select item group.
  2. Create a new item group and provide necessary details like naming it (e.g., spare part group).
  3. Assign main accounts to each relevant section for consistent financial postings.
  4. Alternatively, use posting profiles to assign accounts for multiple item groups simultaneously.

Finalizing Released Product Setup

  • Assign the created item model group and item group to the released product.
  • Validate to ensure all mandatory fields are filled.
  • Ensure units are mapped correctly for inventory, sales, and purchase.
  • The product is now ready to be used in purchase orders after configuring item group with main accounts.

Upcoming Topics

  • Product Master: Definition and setup
  • Preparation for procurement and sourcing module

Stay tuned for the next episode where we will delve into creating a product master!

Thanks for watching the video. See you in the next episode! [Music]

Full transcript