Lot Costing Added to Release G2-16.2

Slingshot has added “Lot Costing” as a valuation option to its eStock inventory control application.  This is in addition to the “Standard Costing”, “Replacement Costing”, “Layered Costing (LIFO or FIFO)” and “Average Costing” methods currently supported.

Lot Costing retains a financial balance for each lot whether they be lots purchased from suppliers or product in manufactured batches created in Slingshot.  When batches are manufactured the “Lot Cost” of batch components is aggregated to create the financial balance for the lot produced.  “Lot Costing” will be utilized primarily by pharmaceutical and chemical manufacturers who require precise calculation of the value of materials used to produce a specific lot.  This results in a more accurate margin calculation when the material is sold.

According to Paul Carr Slingshot’s CEO, “Our new Lot Costing capability is a response to customer demand.  It is missing from certain competitive offerings.  We believe it further solidifies our position as a leading supplier of validated pharmaceutical manufacturing and inventory control software”.

For more information, or to receive a demonstration of the eStock application, contact sales@slingshotsoftware.com.