Item Life cycle provides a simple and convenient way of assigning statuses to inventory items and identifying:
whether they are available for sale or not,
whether they should be purchased
or are to be discontinued and withdrawn.
These statuses can represent the various stages of an Item’s Life Cycle. |For example, an item may be assigned the status of “Under Development” at the start, or “Obsolete”. at the end
Let’s look at a couple of examples:
Here this status relates to new products, where the emphasis is on not making an item available for sale until the product is ready. For RUNDOWN – the item is reaching end of life. So we may be happy to sell what stock we have but do not want to purchase any more. Note The facility to ‘ not include in item look-up’. This is particularly useful where there are large numbers of items, that are still needed for sales analysis purposes, but are redundant from a sales and purchasing point of view.
Status codes can be assigned to inventory items individually as shown here, or by range, based on item number, generic description or class id.
So what is the effect of this? Here we are in the standard GP sales transaction entry screen. If we enter z-109 we get an error message and are not allowed to order the product. Similarly, if we enter z-110 we are not allowed to order this product, as we no longer have any stock to sell.
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