Welcome to Inventory Management, a feature designed to streamline your stocktaking and inventory processes. With this feature, you can track product levels, monitor usage, and minimize waste, ensuring you have the right stock on hand at all times. In this guide, we’ll walk you through setting up the feature, tracking your products, and performing stocktakes to manage your inventory effortlessly.
Table of Contents
Inventory Management Settings
To get the ball rolling, we'll want to set up our stocktake timing and locations in our outlet settings.
Start by navigating to: Group Settings --> Outlets --> Select the Location --> Stocktake.
Here we'll want to set up two elements: 1) the time in which the stocktake will be conducted and 2) what stocktake locations do we have?
Stocktake Time
The stocktake time will reflect whether that day's orders reflect within a product's quantity. Please choose the most appropriate option for your operation.
End of Day: Products in orders and invoices from that day will reflect in the product stock quantity.
Beginning of Day: Products in orders and invoices from that day will not reflect in the product stock quantity.
Stocktake Locations
Below we can set up all of our locations where you keep stock. A stocktake will be designated complete only when all locations have had a stocktake conducted.
To add a new location, click on the + Add Location button.
When you're done, click Save Changes and it's time to set up product tracking!
Setting Up Product Tracking
Now we'll want to set up the products for which we want to track inventory levels.
Start by heading to the Suppliers tab followed by All Products.
Here, there is a Track tab on the far right hand side. You can scroll through your product list, enabling which products you want to track.
To assign tracking en masse, select the checkbox for the products on the lefthand side, followed by Update Products. Click on the Track checkbox in the module, followed by Tracked and Update Products again to save.
Now with your stocktake settings set, and your products tracked - it's time to finalize your inventory management setup.
Setting Up Product Location, Par Level, and Counting Order
With the settings enabled, and product tracking turned on, we can move on to telling Foodrazor which locations the products are found in, as well as setting par levels. Afterwards, we'll set their counting order for the stocktake.
Head over to the Stock tab to find the main overview of your location's inventory.
In the par level column, you can set the desired par level for your products. On the far right is your location column, where you can assign which location(s) the product belongs in.
Once products are assigned to their respective locations, you have the option of setting their counting order. This sets what order they will be displayed in when conducting a stocktake.
Counting Order: Picture the bottles in a bar stocktake going left to right; 1 being the first bottle and 53 (or whatever the # of the last count is) being the last.
To set the counting order, you'll want to click into a specific location by clicking on the locations dropdown.
Once in a location specific view, simply add the counting order on the far-right hand side with a numeric digit input.
Now you've got everything you need for inventory management set up, let's conduct our first stocktake.
Conducting a Stocktake
To start your stocktake, click on the Stocktake sub tab, followed by Start Stocktake.
Select which location you are initiating the stocktake for, and if necessary, add the names of any other individuals helping you with the stocktake.
On the next screen, you have all products in this location. Enter the current count of the products. If you'd like to add any additional products (that have tracking turned on) into this location, feel free to do so via the Add New button.
Once complete, click Go to Overview, feel free to review and leave any notes, and click Finish at the top right.
If you have more than one stocktake location, you'll need to complete all of them before a stocktake is considered complete. Click on the Open stocktake, to finish the other locations.
Once complete, you can click into the Completed stocktake to review all of the inventory data. You can click on the export cloud to export your stocktake values to your accounting software.
Product location setting, par levels, counting order, as well as the input of stocktakes can be done via CSV upload. An article on how to use the CSVs is coming soon.
If exporting your stocktake to your accounting software, please ensure all inventory accounts are set up within your accounting integration.
For any additional help with the inventory management feature, please reach out to your account manager or success@foodrazor.com