Inventory tracking helps you plan for a given facility and SKU – at what points is the stock considered low and how you plan to replenish it.
Once the your stock levels reach a restock level or a backorder is created, then, based on values you set in Inventory Tracking, you can then use Inventory Plans to automate purchase order or transfer order creation for that facility. This will help you organize your procurement seamlessly and avoid losses due to out-of-stock products.
Main menu Inventory >> Inventory Planning >> Inventory Tracking
Selecting the Facility
Select the Facility from the page. You will see the list of SKUs on that page and if they have inventory tracking enabled or disabled for that Facility. For a particular SKU you can enable or disable the inventory tracking information in each facility.
Enabling Inventory Tracking
- To enable inventory tracking please navigate to Main menu >> inventory >> inventory Planning>>Inventory Tracking>> Select Facility>> Edit SKU >> Enable Inventory Tracking.
- Select the inventory tracking information from the drop-down as per your requirement. The following are the options:
Replenishment Mode: In the drop-down you get three options
- None – No need for auto-replenishment. You’ll still get a report
- Purchase – Purchase Orders will be created for this SKU upon a Replenishment Trigger Event
- Transfer – A Transfer Orders will be created for this SKU upon a Replenishment Trigger Event
Replenishment Trigger: In the drop-down you get three options:
- None – No need for auto-replenishment. You’ll still get a report.
- Low stock – You can set re-order points on SKUs to get timely notifications if the available stock count is equal to or falls below the set value upon a Replenishment Trigger Event.
- Back order – These essentially are sale order items which do not have inventory for their respective SKUs upon a Replenishment Trigger Event.
If Low stock is selected you have to fill Re-order point and Re-stock level.
Re-order point: If the total available quantity for an SKU in a facility is equal to or below the Re-order point of that SKU.
Re-stock level: For PO Creation, the Re-stock level decides the quantity ordered of the PO which is the numerical difference between the Re-stock Level and the total quantity available.
If a PO is already sent for that SKU, then the quantity will be adjusted accordingly.
- Click on save.
Follow the below steps to Create Inventory Plan:
- Click on Inventory>> Inventory Plan
- Click on Create Inventory Plan
- Select a facility from the drop-down.
- Provide information about Frequency, Monthly, Day Of Month and time information as per your requirement.
- Fill in Report Recipients email id.
- Select one or both of the following Auto Replenishment Options that is:
- Purchase: Once you select Purchase fill the following information
i) Create PO as: There are following options
- Open: Select open purchase order if you wish to review it and then send it to the supplier. Select
- Sent: purchase sent order if you wish the purchase order is sent directly to supplier.
ii) Select Supplier Rule: Select from the following option as per your requirement.
- Best Lead time: It is the time at which your supplier generally takes in fulfilling the request, if raised, for that particular SKU. The Lowest SLA supplier in your list will receive the purchase order if this option is selected.
- Low cost: The Cost price is the procurement price which a supplier has quoted for that SKU. If this option is selected the supplier from which you can procure the SKU for lowest cost price from your list of suppliers will receive the purchase order.
- 2. Transfer :Once you select Transfer fill the following information
i) Create TO as: There are following options
- Open: Select open Transfer order if you wish to review the transfer order and then schedule a transfer order. Here it will be saved as TO.
- Sent: Select sent if you want the Transfer order is automatically created.
ii) Select source facility: Select the facility from where you would like to create a transfer order.
- Enable or disable this so that Override manual updates to items on existing Open POs/TOs on next scheduled.
- Click on save.