OT Inventory Management system provides the ability to set up and manage both Stock and Non-stock Stock Keeping Units (SKUs). Stock Items are those for which you maintain inventory balances, typically for manufacture of finished goods and/or purchase of your orders.
Non-Stock items are those for which you want to track all item information, e.g., descriptions, prices, units of measure, etc. just as you would need for an inventory item

OT Inventory Management allows you to set up and maintain a virtually unlimited number of different cost methods for your items. You can also set up "user defined" costs for historical tracking, price mark-ups or any other purpose specific to your company or industry.
Additionally, the Inventory Management system includes the ability to record item prices to Purchase orders, using a variety of mark-up and discount rules. To help you manage pricing more efficiently, you can also define groups of like items or customers where the same pricing treatment can be applied.

Lot Processing is used to track groups of items having the same SKU but may vary slightly in content or quality; perhaps because of individual manufacturing runs. Another use of Lot Processing is for groups of different component SKUs that are collectively used to manufacture a finished good. Serial Number Tracking lets you maintain individual identities (serial numbers) for individual items ordered from inventory, with full "trace/track" visibility all the way from your Purchase requisition to Receipt Items.

Items commonly move through inventory via purchase order, work order or sales order transactions. When none of these apply, the system provides several options:
Adjustments - A simple write-up or write-down of on-hand quantity, typically due to loss, damage or to update an incorrect count.
• Reclassifications - As the name implies you can "reclassify" an item from one part number to another. One example is to account for an item that has been moved from one category to another where the different categories have different associated SKUs types.
• Purchase Cycle - From Purchase Requisition to Items Received, each and every milestone is captured.

Items can be sent back due to damaged or poor in quality, so for tracking these we have a milestone named as Reorder Process, where you can track the status of your Reorder Items.

Management Information System Reports can be generated for each milestones which will help for analyzing the loop holes and increase in Organization’s Productivity.