LO Inventory Management

MAGIC Logistics (LO)

LO Inventory Management

Inventory Management aids in efficient management of low-cost goods. MAGIC uses the Inventory Management module to track receipt of goods, total items on hand, location of the items, price, and issuance of goods. Agencies are also able to project the need for items by week, month, or season. Inventory Management is available to all state agencies.
Inventory Management allows agencies to build a structure for management of its inventory. Agencies can manage inventory at the agency level or manage inventory at multiple locations (local offices, warehouses, storage rooms, or bins).
Inventory Management uses moving average price to determine the cost of a specific item in inventory. Each time a new purchase is made, the value of the inventory item will be calculated.
 
How to get your agency ready to start using MAGIC’s Inventory Management

Inventory Management is a new statewide system for Mississippi, and MAGIC will be using two agencies to pilot this module. After Go-Live, other agencies may use the Inventory Management module. If your agency is interested in implementing Inventory Management, follow the steps below:
 

  • Contact MMRS to discuss a timeline and the steps necessary
  • Map each inventory item to the appropriate NIGP code
  • Build a file in the correct layout, with the NIGP codes and their current inventory counts
  • Indicate a starting price for each item

 

Once all the tasks are completed, MMRS will upload the file into MAGIC. The agency will then be able to use the Inventory Management module.