Inventory involves managing your product stock levels and efficiently getting your stock in and out of the system accurately. Maintaining up to date product data is imperative to the success of the system. In Unleashed, the Inventory module enables you to manage your inventory management, with regard to stock management, and when you have Stock On Hand. The inventory module provides you with:
access to view and edit products
transfer stock between warehouses
edit stock on hand via a stock count or stock adjustment
edit stock value with a stock adjustment or revaluation
About the Inventory Management process
The diagram below describes the inventory management process that's possible in Unleashed:
Prerequisites
The below prerequisites describe the what and where of your inventory that needs to be managed:
Each of the above inventory aspects needs to exist before you can manage your inventory.
Stock on Hand
How you acquire or produce your inventory determines where your stock comes from. In the beginning, your stock will be introduced to Unleashed with an Import Stock on Hand, providing a starting quantity and value for your products. But from then on your SOH will come from:
Production
Purchases
Credits
Stock on Hand vs Available Stock
Available stock is calculated as: SOH - Allocated stock
Stock on Hand (SOH): The total number of units, per product, held in your inventory.
Allocated stock: The total number of units, per product, assigned to an open transaction. This does not include quantities of stock that have been dispatched on an open Sales Order, as this quantity is already deducted from Stock On Hand (SOH).
Available stock: The total number of units on hand, per product, that are not allocated to an outgoing transaction, e.g. Sales Order, Assembly or Warehouse Transfer.
Use the Stock On Hand Enquiry to view the stock you have on hand for each product and the available quantity. To review Allocated and Available Stock for each product, use the Product Allocations report, which displays transactions in Unleashed where products are allocated (reserved).
Inventory Module
When actively managing your inventory, you can complete various transactions to accurately maintain the stock quantities and values across the system:
The stock you have on hand will eventually either be consumed or sold, in which case the stock goes to:
Workflow examples
The Inventory module is unlike any other module in Unleashed; there are no set tasks that you need to perform to optimize the workflow within the Unleashed Inventory module. The following workflow examples demonstrate how you can use the Inventory module in Unleashed in a real-world setting.
Example 1:John doesn't have enough stock in his warehouse in Sydney to complete a sale.
Solution: John can transfer stock from his Warehouse in Melbourne to fulfill the order.
Example 2: Jane has lost count of her stock inventory due to lack of replenishment, so wants to perform an audit.
Solution: Jane uses Unleashed to perform a Stock Count, so she can find out how much stock she has to replenish and align her physical stock on hand with the quantity shown in Unleashed's inventory.