Purchase Order Enhancements
Watch a YouTube video showing all the best features.
The standard RMS product provides the functionality to raise purchase orders based on Reorder Points and Restock Levels, sometimes referred to as min/max levels.
The tools available to edit these levels give no preview of the resulting order values, contain no information on sell through rates and finally no indication on the impact on your overall stock holding. This makes setting up min/max levels to manage your inventory time consuming and error prone. The Purchase Order Planner provides a number of pieces of vital information in one form. Finally the RMS Purchase Order Planner allows you to edit your restock levels (max) and reorder points (min) and see the impact this make to your overall projected stock values. The tool allows you to work across your entire stock file, or focus in on specific suppliers, departments and categories or any grouping of these three fields.
Grouping and Filtering
The Purchase Order Planner supports dynamic grouping and filtering of information. This allows you to slice and dice your data as you see fit. For example you group the data by Supplier and then Department and Category. Alternatively, you can group by Department then Supplier. This allows you see the impact your decisions are having on your projected stock holdings, and you can change this around as you’re working.
You can also filter data by any of the columns on the ‘reorder manager’ for example you may want to focus in on a specific supplier, where items are out of stock, and have been selling when so you can specify min’s and max’s to ensure the SKU’s remain available on the shelves.
Summary Information
Whenever you group information the RMS purchase order planner it will provide summaries on the following:
- Estimated Order Value – When you next run “Create New Purchase Orders” based on re-order information it shows you the value of the orders applicable to this grouping. i.e. the total value of orders raised for the ‘Clothing’ department, you could then group by supplier which would break this total down by the purchase orders which are to be raised to each individual supplier.
- Current Stock Value – The value of your stock in this grouping at cost.
- Projected Stock Value – The value of stock for this grouping after all currently open purchase orders and estimated purchase orders have been receipted.
- Projected Min Value – Your stock holding if all items in this grouping are at their minimum (restock point) levels.
- Projected Max Stock Value - Your stock holding if all items in this grouping are at their maximum (restock point) levels.
Line Level Information
Detailed line level information required to make reorder decisions:
- Last Received – The last time the item was checked in via your goods in team on a purchase order.
- Last Sold – The last time the item was purchased at the point of sale.
- Qty Sold 30 – The sales of this SKU over the last 30 days.
- Qty Sold 90 – The sales of this SKU over the last 90 days.
- Qty Sold 365 – The sales of this SKU over the 365 days.
- Stock Value – The current value of your stock holding of this SKU. For example, if you have 10 ‘RED SHOES’ each valued at £10.00 on within RMS stock file, this would show £100.00.
- Supplier Cost – The cost your supplier charges for this item. This would typically be the last price you placed on a purchase order for this item. For example the shoe below was purchased for £1:
- Order Value Est – When you run the “Create New Purchase Orders” based on re-order information, this is the value of stock which will be ordered for this line.
- Projected Stock Value – The sum of your current stock holding of this line, plus the Order Value Est. i.e. the value of stock you will hold once the purchase order has been raised and receipted. This figure includes the value of stock for this line on any other open purchase orders.
- Qty Avail – The quantity of the SKU you have free to sell in your stock file at the current point in time.
- OnOrder – The quantity of the SKU already on order on other purchase orders.
- EstOrderQty – The number of items of this SKU which will be ordered next time you run the “Create New Purchase Orders” routine based on re-order information.
- Reorder Point – The RMS reorder point, this field can be edited in the reorder Manager form.
- Restock Level – The RMS restock level, this field can be edited in the reorder Manager form.
Notes: The reorder manager excludes all:
- None Inventory Items.
- Items marked as Inactive.
- Items marked as ‘May not be placed on purchase order’.
The reorder manager has full support for pack quantities (MPQ).
Latest Developments to the Purchase Order Planner
- Row highlighting so you can see which row the mouse cursor is over;
- Summary values for Current Stock Value, Order Value Est, Estimated Future and Stock @ Min and Max are not in consistent column format. This makes it easier to compare sub totals when you are grouping data;
- Once you have customised the columns and filters you want to work with you can save this away, allowing you to setup predefined purchase order planner worksheets for different seasons, brands, suppliers etc;
- Added better support for tabbing between Reorder Point (Min) and Restock Level (Max) fields removing a key stroke when defining values.
Watch a YouTube video showing all the best features.
For further information contact us on 0845 603 9254 |