PeopleSoft Year End Closing for Inventory
Presented by Jocelyn Milla | 2018
About Today’s Session
1:00 – 2:30 pm 2:45 pm - 4:00 pm Activities
▪ Overview of Inventory year end closing – checklists, flowcharts, guide references, and available resources
▪ How to manage
inventory requisitions, orders, and
replenishments – steps, process options, and directions
▪ Break at 2:30 pm
▪ Hands on time with activities
▪ Question and answer time
▪ Activity 1: Cancel stock request
▪ Activity 2: Close requisition
Inventory
Objectives
▪ Explain the Year End Closing Inventory tasks
▪ Understand how to identify, manage, and reconcile Inventory Requisitions, Orders, and Replenishments
▪ Identify and correct Receipts and Putaway Staging Errors
▪ Demonstrate how to cancel a stock request and close requisitions
BY THE END OF THE SESSION, YOU WILL BE ABLE TO:
Today’s
session is…
Explaining Part III:
Inventory section of the PeopleSoft Finance Year End Closing guide – with guide references to:
• IN1 Inventory
• PO1 Requisitions
• PO2 Purchase Orders
• PO3 Receive Goods
• QY1 Query Viewer
About the Guide
▪ The guide section is divided into three parts:
– Part A: Manage Inventory Requisitions – Part B: Manage Inventory Orders
– Part C: Manage Inventory Replenishment
▪ For each Part, there are Steps. For example, identify inventory requisitions.
▪ For some Steps, there are Process Options to complete the Step. For example, cancel an order line.
▪ For each Process Option, guide references for directions are referenced.
▪ Checklists and flowcharts are provided for each Part.
UNDERSTANDING THE INVENTORY YEAR END SECTION
PART A: Manage Inventory Requisitions
How can I find my Inventory Requisitions?
Where can I find my open, pending, and/or denied Inventory
Requisitions?
Step 1. What method(s) will you use to identify and review inventory requisitions?
•Method 1: Query. Go to Box 2.
•Method 2: Requester’s Workbench. Go to Box 3.
•Method 3: Manage Requisitions. Go to Box 4.
Method 1: Query
•Run the
M_INV_REQ_INFO query.
•Go to Box 5 or 6.
Method 2:
Requester’s Workbench
•Identify and review inventory requisitions.
•Go to Box 5 or 6.
Method 3: Manage Requisitions
•Identify and review inventory requisitions.
•Go to Box 5 or 6.
Step 2A: Do you have Open, Denied, or Pending inventory requisitions?
•YES, I HAVE OPEN REQS
•Option 1: Submit for approval.
•Option 2: Go to Box 7 to do Process Option 1.
•YES, I HAVE DENIED REQS
•Option 1: Modify/edit and submit for approval.
•Option 2: Go to Box 7 to do Process Option 1.
•YES, I HAVE PENDING REQS
•Option 1: Approve the requisition.
•Option 2: Go to Box 7 to do Process Option 1.
Step 2B. Do you have Approved and valid requisitions and requisition lines?
•YES, I HAVE APPROVED AND VALID REQS
•Option 1: Allow the batch jobs to run and source the requisition into a Material Stock Request.
•Option 2: Go to Box 7 to do Process Option 1.
•Option 3: If you have items that will not be issued/confirmed, cancel these lines when the requisition has been sourced into a Material Stock Request. Go to Box 7 to do Process Option 3.
Step 3. How will you reconcile your inventory requisitions?
•Process Option 1: Cancel inventory requisitions.
Step 4. Repeat Steps 1-3 as necessary until desired results.
YEAR END CLOSING INVENTORY REQUISITIONS FLOWCHART
1 2 3 4
5
6
7 8
Inventory Requisition
Checklist
STEP 1. Identify Inventory Requisitions
Query
• Export to Excel to filter, sort, and create pivot tables
• Run to get a quick glance of information
• Cannot drill down to full details of the inventory requisition
Requester’s Workbench
• Search by criteria like, requester or requisition name, requisition ID, supplier, etc.
• Can drill down to the full details of the inventory requisition
• Download search results using Excel
Manage Requisitions
• Review inventory requisitions that you have created and expand the requisition to see its lifespan and line items
• Use the <Select Action> menu to perform action like, approvals, cancel, check budget, etc.
3 METHODS – USE ONE OR MANY
Method 1: INV REQ Query
STEP 1.
INV REQ QUERY
• M_INV_REQ_INFO
Method 2: Requester’s Workbench
STEP 1.
REQUESTER’S WORKBENCH
Search for inventory requisitions by
Requester name, Requisition ID,
Sourcing status, etc.
Method 3: Manage Requisitions
MANAGE REQUISITIONS
Identify and review inventory requisitions
STEP 1.
STEP 2A. Take Action on Open, Denied, or Pending Inventory Requisitions (if applicable)
MANAGE REQUISITIONS
Status Action Options
OPEN • Submit the inventory requisition for approval
• Cancel the inventory requisition if it is no longer needed
DENIED • Modify/edit and submit the inventory requisition for approval
• Cancel the inventory requisition if it is no longer needed
PENDING • Approve the inventory requisition
• Cancel the inventory requisition if it is no longer needed
STEP 2B. Approved and valid Requisitions are sourced into
Material Stock Requests (if applicable) Allow the batch jobs to run and source to a Material Stock Request
OPTION 1
Cancel inventory requisitions
▪ Before the inventory requisitions becomes a Material Stock Request
▪ Cancel inventory requisition using the Manage Requisitions page
STEP 2B. Approved and valid Requisitions are sourced into
Material Stock Requests (if applicable)
OPTION 2
Items that will not be issued/confirmed
▪ Cancel inventory requisition using the Cancel/Hold Stock Request page
STEP 2B. Approved and valid
Inventory Requisitions are sourced into Material Stock Requests
(if applicable)
OPTION 3
IMPORTANT! When a requisition is sourced into as a Material Stock
Requests and there are items that will not be issued/confirmed, the
item(s) can be canceled.
STEP 3. Reconcile Inventory Requisitions
PROCESS OPTIONS – USE ONE OR MANY
Cancel inventory requisitions
Requesters and buyers to cancel inventory
requisitions.
Open, Pending, Denied, or
Approved
requisitions can be canceled.
Close inventory requisitions
Manually close an inventory
requisition when you want to
release the
pre-encumbrance immediately
Cancel
Material Stock Request
Use this function
when you will no
longer issue the
order
Process Option 1:
Cancel Inventory Requisition
STEP 3.
Use the Manage Requisitions page to cancel inventory requisitions
▪ Allows requesters and buyers to cancel inventory requisition
Process Option 2:
Close Inventory Requisitions
STEP 3.
Use the Requester’s Workbench to manually close inventory requisitions
▪ Close inventory requisitions to immediately release any remaining pre-encumbrances
▪ Changes the requisition status to Complete
▪ Use override function when needed for non-qualified requisitions – available only to authorized users
Consideration: Instead of manually closing the inventory requisition, you
can wait for the weekly batch process to close the inventory requisition.
Process Option 3:
Cancel Material Stock Request
STEP 3.
Use the Cancel/Hold Stock Request page to cancel a Material Stock Request
▪ When you will no issue an order – cancel the Material Stock Request
Consideration: Instead of manually closing the inventory requisition, you
can wait for the weekly batch process to close the inventory requisition.
What are the steps?
Step 1
Identify inventory requisitions
Step 2A
Take action on Open, Denied, or Pending inventory requisitions.
Step 2B
Approved and valid
requisitions are sourced into Material Stock Requests
Step 3
Reconcile inventory requisitions
Step 4
Repeat Steps 1-3 as
necessary until desired results.
MANAGE INVENTORY REQUISITIONS
STEP 4. Repeat Steps 1-3
as necessary
PART B: Manage Inventory Orders
Let’s determine how you will manage your
Inventory Orders for Year End.
Step 1. What method(s) will you use to identify and review orders?
•Method 1: Run queries. Go to Box 2.
•Method 2: Fulfillment Status. Go to Box 3.
•Method 3: RMA. Go to Box 4.
Method 1:
Run queries
•Select the appropriate query or queries.
•Go to Box 5 or 6.
Method 2:
Fulfillment Status
•Use search criteria to identify and review inventory orders.
•Go to Box 5 or 6.
Method 3:
RMA
•Use search criteria to identify and review inventory orders.
•Go to Box 5 or 6.
Step 2. Do you have Unfulfilled, Releasable, or Released inventory orders?
•YES, I HAVE UNFULFILLED ORDERS
•Option 1: Replenish backorder. Go to Box 6 to do Process Option 1.
•Option 2: Go to Box 6 to do Process Option 2.
•YES, I HAVE RELEASABLE ORDERS
•Option 1: Run the Order Release on demand (Pick Plan) or wait for the batch jobs to run. Go to Box 6 to do Process Option 1.
•Option 2: Go to Box 6 to do Process Option 2.
•YES, I HAVE RELEASED ORDERS
•Option 1: Check the items from the shelf and confirm picking. Go to Box 6 to do Process Option 1.
•Option 2: Go to Box 6 to do Process Option 2.
Step 3. How will you reconcile your inventory Orders?
•Process Option 1: Complete order items processing.
•Process Option 2 Cancel Stock Requests
Step 4. Do you have return materials?
YES, I HAVE RMAs
•Process Option 1: Enter Return Material.
•Process Option 2: Receive an RMA.
•Process Option 3: Run RMA Report.
Step 5. Repeat Step 1-4 as necessary until
YEAR END CLOSING INVENTORY ORDERS FLOWCHART
1 2 3 4
5 6
7
8
Inventory
Orders
Checklist
STEP 1. Identify Inventory Orders
Queries
• Export to Excel to filter, sort, and create Pivot tables
• Overview of the information
• Cannot drill down to the full details of the Orders
Fulfillment Status
• Search by fulfillment state, item ID, schedule dates, and locations
• Can drill down to full details of the order
• Download to Excel from the results page
RMA
• Search for RMA
• Can drill down to the full details of the RMA
• Filter by RMA statuses
3 METHODS – USE ONE OR MANY
Method 1: INV ORDERS Queries
STEP 1.
ORDERS QUERIES
• M_INV_BACKORDER_LIST
• M_STORES_LIST
• M_INV_ORDER_DEMAND
Method 2: Fulfillment Status
STEP 1.
FULFILLMENT STATUS
Search for orders by Demand
Source, Order No., Fulfillment
State, etc.
Method 3: RMA
STEP 1.
RMA page
Review your RMAs for your district
STEP 2. Take Action on Unfulfilled, Releasable, or Released Inventory Orders (if applicable)
Options for Unfulfilled Inventory Orders
Unfulfilled
Items are in
backorder status
Option 1: Replenish backorder. Use this process option when you need to order more items manually or using the replenishment process based on your district.
Option 2: Cancel the lines and Cancel Stock
Request
STEP 2. Take Action on Unfulfilled, Releasable, or Released Inventory Orders (if applicable)
Options for Releasable Inventory Orders
Releasable
Items are waiting to be released
Option 1: Run the Order Release Request on
demand (Pick Plan) or wait for the batch jobs that run every 60 minutes. Then confirm the items and
Complete Order Items Processing
Option 2: Cancel the lines and Cancel Stock
Request
STEP 2. Take Action on Unfulfilled, Releasable, or Released Inventory Orders (if applicable)
Options for Released Inventory Ord ers
Released
Items are waiting to be confirmed
Option 1: Check the items from the shelf and confirm picking in the system. Confirm the items and
Complete Order Items Processing
Option 2: Cancel the lines and Cancel Stock
Request
STEP 3. Reconcile Inventory Orders
PROCESS OPTIONS – USE ONE OR MANY
Complete order items processing
A. Run the Order Release Request on demand (Pick Plan) B. Process confirming C. Print Pack Slips
Cancel stock requests
Do this when you will
no longer issue the
order
Process Option 1:
Complete order items processing
STEP 3.
A. Run the Order
Release Request on demand (Pick Plan) B. Process confirming C. Print Pack slips
A
B
C
Process Option 2:
Cancel Stock Requests
STEP 3.
Use the
Cancel/Hold
Stock Requests
page when you
will no longer
issue the order
STEP 4. Manage Return Material Authorization (if applicable)
PROCESS OPTIONS – USE ONE OR MANY
Enter Return Material
Enter items returns from sites/requesters back into the inventory due to damaged items or excess of orders
Receive an RMA
Receive the items returned by the sites in the inventory module. You will need to know the storage location for the item(s).
Run RMA Report
Review and
verify the RMAs
for your district
Process Option 1: Enter Return Material
Use the RMA page to enter items back into the inventory
STEP 3.
Process Option 2: Receive an RMA
Use the RMA Receiving page to receive returned items back into the inventory
STEP 3.
Process Option 3: Run RMA Report
Run the RMA Report to review and verify RMAs for your district
STEP 3.
What are the steps?
Step 1
Identify inventory orders
Step 2
Take action on Unfulfilled, Releasable, or Released inventory orders
Step 3
Reconcile inventory orders
Step 4
Manage Return Material
Authorization
Step 5
Repeat Steps 1-4 as
necessary until desired results
MANAGE INVENTORY ORDERS
STEP 5. Repeat Steps 1-4
as necessary
PART C: Manage Replenishment
Let’s determine how you will manage your
Inventory Replenishment for Year End.
Step 1. What method(s) will you use to identify and review replenishments?
•Method 1: Run queries. Go to Box 2.
•Method 2: Manage Replenishment Request page.
Go to Box 3.
•Method 3: Manage Requisitions page. Go to Box 4.
•Method 4: Add/Update Pos. Go to Box 5.
Method 1:
Run queries
•Select the
appropriate query or queries.
•Go to Box 6 or 7.
Method 2: Manage Replenishment Request
•Identify and review inventory
replenishments. Go to Box 6 or 7.
Method 3: Manage Requisitions
•Identify and review replenishments.
•Go to Box 6 or 7.
Method 4:
Add/Update POs
•Identify and review replenishments.
•Go to Box 6 or 7.
Step 2. Do you have pending replenishment requests, requisitions, or purchase orders?
•YES, I HAVE PENDING REPLENISHMENT REQUESTS
•Option 1: Complete the replenishment process. Go to Box 7 to do Process Option 1.
•Option 2: Go to Box 7 to do Process Option 2.
•YES, I HAVE PENDING REPLENISHMENT REQUISITIONS
•Option 1: Complete the replenishment process. Go to Box 7 to do Process Option 1.
•Option 2: Cancel or close replenishment requisition.
•YES, I HAVE PENDING REPLENISHMENT PURCHASE ORDERS
•Option 1: Complete the replenishment process. Go to Box 7 to do Process Option 1.
•Option 2: Cancel or close replenishment purchase order.
Step 3. How will you reconcile your replenishments?
•Process Option 1: Complete replenishment processing.
•Process Option 2: Cancel replenishment request
•Process Option 3: Cancel or close replenishment requisition
•Process Option 4: Cancel or close replenishment purchase order
Step 4. Do you need to receive stock items?
•YES, I HAVE STOCK ITEMS TO RECEIVE
Process Option 1: Receive stock items
•NO, I WILL NOT RECEIVE THE ITEMS
Go to Box 7 to do Process Option 4.
Step 5A. Identify Receipts and Putaway Staging Errors
•Method: Run the M_INV_ITEM_OPEN_RCV_PUTAWAYSTG
•YES, I HAVE RECEIPTS that need to be loaded to the Inventory. Go to Box 10 and do process option 1.
Step 5B. Do you have Receiving and Putaway Staging Errors to correct?
•YES, I HAVE ERRORS TO CORRECT
•Process Option 1: Load Staged Items
•Process Option 2: Correct Staged Errors
Step 6.
Repeat Steps 1-5B as necessary until desired
YEAR END CLOSING INVENTORY REPLENISHMENT FLOWCHART
1 2 3 4 5
6
7
8
Inventory Replenishment
Checklist
YEAR END CLOSING REPLENISHMENT REQUEST FLOWCHART
STEP 1. Identify Replenishment
Queries • Export to Excel to filter, sort, and create Pivot tables;
cannot drill down to the replenishment details
Manage Replenishment Request
• Search by replenishment state; can drill down to the details
Manage Requisitions
• Review requisitions that you have created and expand the requisition to see its lifespan and line items; cannot export results to Excel
Add/Update POs
• Search by PO date, PO number, PO ID, Supplier, and Buyer name; can drill down to the details
4 METHODS – USE ONE OR MANY
Method 1: INV REPLENISHMENT Queries
STEP 1.
REPLENISHMENT QUERIES
• M_INV_REQ_INFO
• M_PO_OUTSTANDING_POS
• M_INV_PO_INFO
Method 2: Manage Replenishment Requests
STEP 1.
MANAGE REPLENISHMENT REQUESTS
▪ Search your replenishment requests
Method 3: Manage Requisitions
STEP 1.
MANAGE REQUISITIONS
Method 4: Add/Update POs
STEP 1.
ADD/UPDATE POS
Search by PO date, buyer, PO type,
supplier, etc.
STEP 2. Take Action on Replenishment Requests, Requisitions, or Purchase Orders (if applicable)
Options to take action on Replenishment Requests
Do you have any pending
replenishments requests?
Option 1: Complete Replenishment Request process based on your district’s business process
Option 2: Cancel the Replenishment Request
STEP 2. Take Action on Replenishment Requests, Requisitions, or Purchase Orders (if applicable)
Options to take action on Replenishment Requisitions
Do you have any pending
replenishments requisitions?
Option 1: Complete Replenishment process based on your district’s business process
Option 2: Reconcile Requisitions based on the
status of the requisition
STEP 2. Take Action on Replenishment Requests, Requisitions, or Purchase Orders (if applicable)
Options to take action on Replenishment Purchase Orders
Do you have any pending
replenishments purchase
orders?
Option 1: Complete Replenishment process based on your district’s business process.
Option 2: Reconcile Purchase Orders based on the
status of the purchase order
STEP 3. Reconcile Replenishment
Requests, Requisitions, or Purchase Orders
PROCESS OPTIONS – USE ONE OR MANY
Complete replenishment
process
Follow the replenishment process
Cancel replenishment
request
Use this
function when you want to cancel your replenishment requests prior to generating a requisition
Cancel or close replenishment
requisition
Take action based on the statuses of the replenishment requisitions
Cancel or close replenishment purchase order
Take action based on the statuses of the replenishment purchase
orders
Process Option 1:
Complete Replenishment process
STEP 3.
A. Load Requisitions
B. Budget Check Requisitions C. PO Auto Sourcing
D. Sourcing Workbench (if applicable) E. Modify and Dispatch PO
F. Receiving Stock Items G. Cancel Stock Receipt
This is the
basic process
Process Option 2:
Cancel Replenishment Request
STEP 3.
MANAGE REPLENISHMENT REQ UEST
When do I use this function?
When you want to cancel
your replenishment requests prior to generating a
requisition
Process Option 3:
Cancel or close Replenishment Requisition
STEP 3.
MANAGE REQUISTIONS
Do you need to cancel requisitions?
Requisitions with the following statuses can be canceled: Open, Pending, Denied, or Approved.
REQUESTER’S WORKBENCH
Do you need to close requisitions?
Manually close non-qualified requisitions to release any remaining
pre-encumbrances and set the requisition
status to Complete.
Process Option 4:
Cancel or close Replenishment Purchase Order
STEP 3.
ADD/UPDATE POS
Do you need to cancel purchase orders?
Cancel a purchase order with the following statuses: Open, Approved, Pending Approval, or Dispatched.
NOTE: Budget status must be valid
BUYER’S WORKBENCH
Do you need to close purchase orders? Manually close nonqualified purchase orders to release any remaining
encumbrances and set the purchase order
status to Complete.
STEP 4. Receive Stock Items
(if applicable )
Use one or more of these options to Receive Stock Items
Do you need to receive stock items?
Option 1: Complete the receiving process to Receive Stock Items
Option 2: Cancel the PO if it will no longer be completed or is no longer needed. Reconcile Purchase Orders based on the status of the purchase order.
OPTIONS TO SELECT – USE ONE OR MANY
STEP 5A. Identify Receipts and
Putaway Staging Errors (if applicable )
RECEIPTS and PUTAWAY STAGING ERRORS QUERY
• M_IN_ITEM_OPEN_RCV_PUTAWAYSTG
• M_INV_FAILED_PUTAWAY
STEP 5B. Correct Receipt and
Putaway Staging Errors ( if applicable )
PROCESS OPTIONS – USE ONE OR MANY
Load Staged Items
Run the Load Staged Items process to auto putaway the receipts.
Correct
Staged Errors
Review and correct an errors that resulted form the load
staged items process
Stockroom Feedback
Confirm the
location that you used after
inventory items have been
received and put
away, based on
the Putaway
Plan
STEP 6. Repeat Steps 1-5B as necessary
Step 1
Identify replenishment
requisitions, purchase
orders
Step 2
Take action on replenishment
requests, requisitions, or
purchase orders
Step 3
Reconcile replenishment
requests, requisitions, or
purchase orders
Step 4
Receive stock items
Step 5A
Identify putaway staging errors
Step 5B
Correct putaway staging errors
Step 6
Repeat Steps 1-5B until desired results
