Cloud based inventory management to track every SKU of any type

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We solve inventory management problems

Our cloud based inventory management software for wholesalers contains harmonized functions to model product, and streamline and track its journey and performance through the sales, fulfillment, and accounting cycle.

Our teams have decades of experience of using our cloud ERP solution to solve problems in hundreds of customers large and small in diverse industries.

The combination of our platform, talent, and intellect can provide you with insights, solutions, and often breakthroughs.

Inventory types we support

Stock Physical product SKU.
Serialized Item Single SKU Item with a unique identifier. .
Lot Item Single SKU Item, part of a group with an overarching unique identifier.
Kit SKUs which can be sold individually bundled and stored or sold as a single Item.
Assembly A single SKU that consists of, and reduces the stock of constituent Items when assembled.
Non Stock Never stocked. Used to represent drop ship and non-physical Items
Matrix Allows tracking of product inventory by user-defined attributes.

Cloud based inventory management tools

Cloud based inventory management tools for wholesalers to cost efficiently track and manage the entire lifecycle of stock.

Tool Purpose
Item master Stores the configuration, parameters and information (including documentation and images).
Stock view Detailed view of each SKU, how many, where they are, their status and average cost.
Stock Manager A comprehensive view of every stock Instance, who it was purchased from and sold to.
Stock Valuation Calculates the individual and overall value.
Stock Reporting Dimensions, physical and financial measures.
Warehouse Management System Model and manipulate real to life representations of:

  • Physical Stock.
  • Physical Locations i.e warehouse, bin, pallet, packaging.
  • Physical Actions & Workflows.
Unit of measure Configure stocking, selling and buying unit relationships.
Reorder levels Set stock purchase thresholds.
Categories Configure for reporting.
Attributes Variants i.e color, diameter.
Classifications Configure for segmentation reporting.
Tax option Specify Tax collection parameter.
Multicurrency Pricing Set a fixed sales prices in a foreign currency.
Multicurrency Costs Set a fixed purchase cost in a foreign currency.
Item configuration Dropship, Special (just in time) or Inventory on a Sales Order.
Preferred Suppliers Configure a default supplier and list of alternative Suppliers.
Minimum Order Quantity Per preferred Supplier.
Accounting behavior Configure general ledger posting i.e. Income, Cost of goods expenses, Stock Asset accounts.
Multipack Model and track units of measure e.g. 1 multipack SKU = 12 individual SKUs.

Kits (bundles)

Using our cloud based inventory management software for wholesalers you can model and manage Kits. Kits are Items grouped together in ready to ship sets. Items in a Kit can be sold separately. For example a power lead for a computer could be sold as part of a Kit, e.g. Laptop, Mouse, Power lead. Alternatively a customer could just order a replacement power lead.

A Kit is an individual SKU. The components of a kit are specified on a bill of material (BOM) on the Item master for the respective Item.

cloud based inventory management software to manage kits

Kits are preset blueprints for ‘bundles’ of Items: when you add a Kit to a Sales Order the component Stock Items are allocated from Stock. Allocation reserves stock for each Sales Order. This action decreases Free Stock and increases Stock on hand levels.

The physical stock in the Warehouse is only reduced when the Kit (or other Stock Items on the Sales Order line item table are selected and a Sales Invoice or Cash Sale is created.

 

Kits and Assemblies - the basics

Assemblies

In our cloud based inventory management software for wholesalers you can model and manage Assemblies. Assembly Items are built for stock. The process of building an Assembly Item changes the stock levels.

When you build an Assembly Item, our system performs a stock adjustment. The component stock of the relevant Assembly is reduced and the number of built Assemblies increases.

The obvious implication is the component stock is no longer available for allocation to Sales Orders, and therefore cannot be sold individually if it is ‘built’ into the Assembly Item.

Tracking SKU instances, infinite possibilities

In our cloud based inventory management system for wholesalers, every Stock Item can be a unique instance, and can, therefore, store data about itself. We call this ‘Instance Tracking’.

Instead of storing an Item as a SKU or just an Item code with a quantity, the Salesorder warehouse management system can store the Item or SKU as an instance of itself. Each instance created has a unique identifier (ID) as well as its SKU or Item code.

When a Stock Instance is created the user can set its quantity specific to how it needs to be tracked. If the quantity is set to 1 then the Item will be tracked as a single Item i.e. by serial number. If the quantity is set to greater than 1, then the Item would be tracked overall as a group i.e. by lot or batch.

When our order management software for wholesalers creates a Stock Instance it does so with a set of standard fields to store the obvious information i.e. SKU code etc. Because we baked DIY customization into the Salesorder architecture, the number and types of fields available to store data can be extended by users.

The applications for this approach create new possibilities for tracking physical products i.e. the Internet of Things.

Tracking SKU with Serial numbers​

cloud based inventory management software to manage serial numbers
In the above example, SKU AB-CD123 is a quantity of two stock Items with serial numbers of 1663 and 1664 respectively. They are two separate and unique instances, 1001 and 1002. They were both sold on Sales Order #3760, but purchased on separate Purchase Orders 1050 and 1051 respectively.

Tracking SKU with Lot numbers

cloud based inventory management software to manage Lots

In the above example, SKU AB-CD124 is tracked in Lots. The Lot # 2121 was purchased on Purchase Order #1050. The original quantity purchased was 300.

A quantity of 25 of SKU AB-CD124 was sold on Sales Order #9941. Notice the Lot# and original Purchase Order #1050 has been inherited by the new Instance ID 1002.

Tracking SKU with events e.g. Warranty

customizable cloud based inventory management software

The cloud based inventory management software’s customization tools enable you to add custom fields on the instance master to store values relevant to your business such as sell by date, use by, warranty expiration, etc.

Inventory management Accounting

Unlike most cloud based inventory management system’s for wholesalers, Salesorder contains full multi-currency, tax agnostic and therefore versatile accounting functions. 

All inventory items are mapped to their respective profit and loss, and balance sheet accounts in the general ledger. This means no integration with a third-party accounting system.

The benefits are one database, and therefore joined-up reporting of the physical and financial dimensions of the inventory data. This reduces complexity and user effort. Data duplication and the risks of human error to financial integrity are eliminated.

One truth for all…

Inventory management reporting

Because the Salesorder cloud based ERP is a transaction processing system in one database, every status, physical and financial value change, and their resulting balances is stored in one place and available to the reporting tools.

Users can configure and run reports to filter view and analyze the multiple dimensions and measures of inventory management-related data.

There are multiple reporting tools:

Native Customizable Reports integral to Salesorder.
Jaspersoft Studio Advanced Custom report builder. We build specialized reports to your specification.
(Q3 2020) Tableau Mainstream Business Intelligence tool.
(Q3 2020) OLAP A toolkit to connect Excel to data from the Salesorder database.
(Q3 2020) Power BI Mainstream Business Intelligence tool.

One truth: cloud based inventory management

cloud based inventory management

It’s not so obvious at the time of purchase deploying software from multiple vendors will definitely become a roadblock to your growth.

Growth is data-driven. You need one source of the truth to measure and track what you need to know. You can’t easily get this from multiple databases. It’s hard and confusing work nobody wants to do, not to mention the hours of the valuable time it wastes every day.

Salesorder.com is unified order management software for wholesalers, in one database. No data duplication, just one application, we call this joined-up thinking. It maintains one source of the truth, gets everyone on the same page and makes your business smarter.