I am working with a Food Company using lot/FIFO. I did try to persuade the
company to use Standard Costing but to no avail. The biggest issue you will
have is ensuring you put all your costs in before producing, You can go in
and change things but not if you have a fast turnaround and the product you
have made has been sold or consumed in a later process and so the costs, or
lack of them, are carried forward into the sale or next job . This sort of
problem is not specific to Epicor - I have worked with SAP and you would
have the same problems.
The argument for going down the Lot/FIFO route was that the raw material
price fluctuated from day to day and so every lot could have a different
price and that the stock value should reflect its true cost. However human
beings being what they are make mistakes and so sometimes forget to enter
raw material or overhead costs etc before producing the finished product and
issuing it to another job or selling it. So is the stock a true reflection
of value? Generally yes but even after just one month of going Live already
there are anomalies in stock costs.
Happy to discuss further if you wish
Regards
Adrian Lauchlan
Inceptum Projects Ltd
mobile 07852 270968
You can now call me on my Skype Number
skype +44 (0)208 123 5065
The information in this email including any attachments is intended only for
the exclusive use of the person or body it is addressed to. It may contain
confidential and privileged material that may be subject to legal privilege.
It may not be disclosed, disseminated, re-transmitted or distributed without
the permission of the sender. If you have received this email in error,
please delete it from your system and contact the sender. Please note that
it is the recipient's responsibility to check for viruses and Inceptum
Projects Ltd will not be held responsible for any damages arising from virus
infections.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
donalds0928@...
Sent: 08 February 2012 19:14
To: vantage@yahoogroups.com
Subject: [Vantage] Epicor 9.05 6.07 - Finance Costing Method - FIFO
We are trying to locate an Epicor 9 user who is using FIFO costing,
preferably someone in the equipment manufacturing business. We are looking
to understand the strengths and weaknesses of the software in handling these
transactions. We are aware there may be some potential issues for us with
serialized part numbers. We definitely need to understand that issue more
before we move forward. We would appreciate your assistance! We are
currently working on our implementation for a May 2 go live. Thanks!
[Non-text portions of this message have been removed]
company to use Standard Costing but to no avail. The biggest issue you will
have is ensuring you put all your costs in before producing, You can go in
and change things but not if you have a fast turnaround and the product you
have made has been sold or consumed in a later process and so the costs, or
lack of them, are carried forward into the sale or next job . This sort of
problem is not specific to Epicor - I have worked with SAP and you would
have the same problems.
The argument for going down the Lot/FIFO route was that the raw material
price fluctuated from day to day and so every lot could have a different
price and that the stock value should reflect its true cost. However human
beings being what they are make mistakes and so sometimes forget to enter
raw material or overhead costs etc before producing the finished product and
issuing it to another job or selling it. So is the stock a true reflection
of value? Generally yes but even after just one month of going Live already
there are anomalies in stock costs.
Happy to discuss further if you wish
Regards
Adrian Lauchlan
Inceptum Projects Ltd
mobile 07852 270968
You can now call me on my Skype Number
skype +44 (0)208 123 5065
The information in this email including any attachments is intended only for
the exclusive use of the person or body it is addressed to. It may contain
confidential and privileged material that may be subject to legal privilege.
It may not be disclosed, disseminated, re-transmitted or distributed without
the permission of the sender. If you have received this email in error,
please delete it from your system and contact the sender. Please note that
it is the recipient's responsibility to check for viruses and Inceptum
Projects Ltd will not be held responsible for any damages arising from virus
infections.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
donalds0928@...
Sent: 08 February 2012 19:14
To: vantage@yahoogroups.com
Subject: [Vantage] Epicor 9.05 6.07 - Finance Costing Method - FIFO
We are trying to locate an Epicor 9 user who is using FIFO costing,
preferably someone in the equipment manufacturing business. We are looking
to understand the strengths and weaknesses of the software in handling these
transactions. We are aware there may be some potential issues for us with
serialized part numbers. We definitely need to understand that issue more
before we move forward. We would appreciate your assistance! We are
currently working on our implementation for a May 2 go live. Thanks!
[Non-text portions of this message have been removed]