70 Certification Study Guide Series: IBM Maximo Asset Management V7.1 – Lead Time is the amount of time between placing an order and delivery of the items. – Economic Order Quantity is the number of an item that should be reordered at one time, usually based on the vendor's price for a particular quantity ordered. For example, buying a case of an item might cost less per item than buying the item individually. Rotating Asset Use this tab to identify and track rotating assets associated with a rotating item record. You may assign an inventory item number to assets so that they can be stocked and reordered as necessary. A rotating asset is generally repaired rather than replaced, and it can be rotated between different plant locations or different parent assets. Where Used This tab lists assets on which the item is used. If you use the Spare Parts tab ( in the Assets application) to associate the item with an asset, the assets are automatically copied to the Where Used tab. 4.3.6 Issues and Transfers The Issues and Transfers application is used to manage the movement of inventory items out of the storerooms. You issue an item when it is moving out of a storeroom to be used. You transfer an item when it is moving between storerooms. To access the application, select Go To . Inventory . Issues and Transfers. Issues and Transfers tabs The Issues and Transfers application has the following tabs: List Use this tab to search for location records. Issue Use this tab to issue items and tools from a storeroom directly to a work order, asset, location, or against a general ledger account. You may also use Note: Because the Inventory and Storerooms applications are at the site level, Issues and Transfers are also managed at the site level.

Chapter 4. Inventory 71 this tab to return items and tools to a storeroom. When you issue an item or tool, the balance is updated in the storeroom. To issue an item previously reserved for the selected storeroom, use the Select Reserved Items dialog. You may also issue a non- reserved item by selecting the New Row, and return previously issued items by using the Select Items for Return dialog. An option exists to change the reservations for each storeroom; use the Add/ Modify Reservations from the Select Action menu. You may create, modify, and delete the reservations. For more details, see Figure 4- 15. Figure 4- 15 Add/ Modify Reservations dialog Transfer Out Use this tab to transfer items and tools out of your storeroom to either a location ( courier, labor, storeroom) within a site or to a courier if transferring across sites or organizations. Transfer In Use this tab to transfer items or tools into your storeroom from another location ( courier, labor, storeroom) within a site or from a courier if the transfer was across sites or organizations. Note: When returning an item, if you cannot find a prior issue transaction for it, you may return it by creating an issue transaction of type RETURN.