You can either use the default (Reserve) asset class or specify a different asset class for each inventory part record you create. Asset classes are used to control functions for all parts attached to the class. Different asset classes can be defined using different combinations of these functions. The functions are:
| Function/Field Name | Description | List Field Values |
| Shortage | The shortage flag activates information about shortages upon receipt. If there is a part shortage upon receipt and this flag is activated, a message is displayed. However, this only occurs if there is a shortage when receiving an inventory part with shortage notification. | Shortage Notation or No Shortage Notation |
| Availability Check | This parameter is used to determine whether a control shall be performed at customer order line registration, to check if there is enough quantity available without denying other orders. For shop orders it also determines whether the system will give the user planning alerts and availability problems error messages upon releasing and reserving the order. | No Availability Check or Make Availability Check |
| Availability Check at CO Reserve | This is used to determine whether a control will be performed at the customer order line reservation. It checks whether the CO plannable quantity will become negative when performing reservations. If this is the case, then the system will not reserve the parts. | Make Availability Check or No Availability Check |
| Online Consumption | This parameter applies only when you use sales parts that are planned using Master Scheduling. | Online Consumption or No Online Consumption |
| Reserve at Order Entry | You can decide what kind of reservation should be used at customer order entry. If there is not enough available inventory for an order line with a part using prioritized reservations, it cannot be saved. | Normal reservation or Priority reservation |
| Automatic Capability Check | This selection indicates whether the capability check should start automatically or not. If the check is to start automatically, this selection also indicates which reservation and allocation principle will be used for material and capacity when the capability check is done. The default value is fetched for the asset class connected to this inventory part. You can change the default value. | Reserve and Allocate, Allocate Only, Neither Reserve nor Allocate, Or No Automatic Capability Check. |
| Upper Frequency Limit Slow Movers | The upper level for the number of issues per year that decides if the inventory part should be considered to be a slow mover. If the number of issues exceed this limit, the part will be considered as either a medium mover or a fast mover depending on the number of issues made per year for that part. This limit can be entered either per site or on a more detailed level asset class. Setting the frequency class for a part is done in the background job for classifying parts. | |
| Upper Frequency Limit Medium Movers | The upper level for the number of issues per year that decides if the inventory part should be considered to be a medium mover. If the number of issues exceed this limit, the part will be considered as a fast mover. This can be entered either per site or on a more detailed level asset class. Setting the frequency class for a part is done in the background job for classifying parts. | |
| Introduction Duration days | The number of days that should pass after the first statistical issue before the inventory part should move from introduction to mature phase. This can be entered either per company or on a more detailed level asset class. | |
| Decline Inactivity Days | The number of days that should pass after the last statistical issue before the inventory part should be considered to be in its decline phase. This can be entered either per company or on a more detailed level asset class. | |
| Expired Inactivity Days | The number of days that should pass after the last statistical issue before the inventory part should be considered to be in its expired phase. This can be entered either per company or on a more detailed level asset class. | |
| Seasonal Demand Pattern | The seasonal demand pattern check box is used for parts that have a demand pattern that fluctuates during different seasons. If the seasonal demand pattern is used on an asset class, parts using that asset class will be handled with consideration of the seasonal demand pattern when calculating ABC and frequency classification (classification done per asset class) as well as when calculating demand deviation analysis for those parts. The calculations will look at transactions that occurred one year ago for those parts. | |
| Classification Periods | The number of periods used for the specified asset class when performing classification. Note that this is only used when classification is set to be done per asset class on site and also that this will override the value specified in the dialogue box for performing ABC, Frequency, and Lifecycle classification. If no value is specified it will be the number of periods that is specified in the classification job dialogue box that is used. |
These controlling parameters default when you specify an asset class for the part. Asset class Reserved will automatically default, but you can change the asset class for the inventory part in the Inventory Part/General tab. The values associated with the asset class will then default to the inventory part record. You can also change these default values for the inventory part in the Inventory Part /Misc Part Info tab.