Topics started by Gary Goodnight

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Gary GoodnightNew Participant
asked in Americas - Midwest - IL, KS, ND, NE, SD

Inventory receipts from overseas vendors

We purchase large volumes of extrusion from China and Saudi Arabia. The freight charges are always received  6 to 8 weeks after the materials finally arrive. These freight charges normally equate to about 1/3rd of the total cost of the material. We use the total expense for inventory value since the freight expense is so significant. However, we need to start using the materials as soon as it arrives. Our current process is very cumbersome. We normally wait to enter the receipt until the final freight bills are received. By that time, 20 to 40 percent of the material has been consumed on orders. Does anybody else deal with similar purchases and have a good method of receiving and accounting for such purchases.

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G
1 year ago
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