Learn how PurchasePlus helps your Organization to manage the Products that you hold in Inventory.
Jump to:
- Introduction
- Stock vs System Locations
- Viewing and Managing Stock Locations
- Viewing and Managing a Single Stock Location
- Creating New Stock or System Locations
- Managing Stock Items in a Stock Location
What is a Stock Location
A Stock Location can be representative of a physical location at your Organisation where Stock Items are held, such as a store room, a warehouse or kitchen.
Stock Locations can also be used as a Point of Origin or a Destination for a Stock Transfer, a Location to receive Stock Items into on a Goods Receiving Note, and a Location where a Stocktake can be conducted.
Stock Locations vs. System Locations
Some Stock Locations are non-physical (i.e. they are not representative of a physical location at your Organization such as a store room, warehouse or kitchen), and these are known as System Locations. System Locations are only used for transferring stock In or Out of a physical Stock Location for accounting purposes (e.g. for variances during Stocktake).
Viewing and Managing Stock Locations
Users with the ‘Manage Stock Locations’ permission can View and Manage their Organization’s Stock and System Locations by navigating to [Inventory] → [Stock Locations] in the side navigation bar.
Here you will find all of your Stock Locations and their attributes in a table view:
You can use the tabs above the table to switch between Stock and System Locations, and you can customize the table using the ‘Manage Columns’ button, or dragging the column width borders to suit your preference.
Viewing and Managing a Single Stock Location
Clicking on a Stock or System Location name in the table will take you to the selected Stock Location:
From this view, users with the ‘Manage Stock Locations’ permission can:
- View the Stock Items currently being held in Inventory in the Stock or System Location,
- View more details about any Stock Item being held in the Stock or System Location,
- View any Open, Complete or Cancelled Transfers where the Location has been set as either the Origin or Destination for the Transfer,
- Edit the Settings of the Location.
Creating New Stock or System Locations
You can create a Stock Item by clicking the [Create a Stock Location] button on the [Inventory] → [Stock Locations] page.
When you are creating a new Location, you have the option of creating a Stock Location, or various types of System Locations. Please choose carefully, as the Location Type will determine the actions that can be taken with this Location:
Managing Stock Items within a Stock Location
Stock Items are able to be held in Stock (and System) Locations.
Viewing Stock Levels in a Stock Location
You are able to view the Current Quantity of a Stock Item in a Stock Location in multiple places in the Inventory module. For example, the Quantity column on the [Stock Items] tab in a Stock Location:
Managing Stock Levels in a Stock Location
There are multiple ways that you can manage the levels of the Stock Items that are held in your Stock Locations, for example:
- Creating a Transfer to move Stock Items between Locations.
- Receiving Goods to Inventory on a Goods Receiving Note, when you receive a delivery from your Suppliers.
- Completing a Stocktake, and creating a Variance Transfer to account for discrepancies in the count.
- Set a PAR Level (Periodic Automatic Replacement) which defines the quantity of this Stock Item that your Organisation wishes to hold in this Stock Location. You can also set a Re-order Level, which defines the quantity (usually, a minimum acceptable quantity) at which your organisation wishes to replenish the Stock Items to the PAR level.
You can edit both the PAR and Re-Order Levels by hovering-over each value in the [Stock Items] tab while viewing a Stock Location:
- For good data cleanliness, you can also Clear All Zero Quantity Items, so that the relationship between a Stock Location and a Stock Item (with a Quantity of zero) is removed. This can be useful when you wish to clear old Stock Items that you no longer use from your Inventory. Please Note: for the Stock Item to be removed, it must also not be currently included in any Open Transfers where this Stock Location is either the Origin or the Destination.
Creating a Requisition from a Stock Location
You can quickly replenish the Stock Items held in a Stock Location by Creating a Requisition from a Stock Location.
When you create a Requisition from a Stock Location, all Stock Items held in the selected Location will be available to order, and you will see all available quotes from your Suppliers for those Stock Items - similar to the way a Buy List Requisition works. Only Stock Items that are held in the Stock Location can be added to a Stock Location-type Requisition.
Read more about Creating a Requisition from a Stock Location.
Viewing and Adjusting the Value of Stock Items in a Stock Location
When you Receive Goods To Inventory, you are able to record the price at which the goods were Ordered or Invoiced at, or you can manually override the price at that time. This value is recorded and averaged at a Stock Location-level, so you can achieve oversight regarding the value of the Stock Items that you hold as Inventory.
You can view the current Value of all Stock Items in your Stock Locations viewing the Balance column on the [Inventory] → [Stock Locations] page:
After clicking into one of the Stock Locations, you can view both the current Unit Value and the Total Value of a Stock Item in the Stock Location. Please note, the Unit Value of the same Stock Item can differ between Stock Locations:
If you wish to view the Value History, or manually adjust the value of a Stock Item in a specific Stock Location, please click the [More] menu next to the desired Stock Item:
Finally, you can view a record of all of the Value Adjustments made to all Stock Items in a Stock Location by clicking the [Value Adjustments] tab inside a Stock Location:
This is Part 3 of our Introduction to Inventory series.
- Read Introduction to Inventory, Part 1
- Read Introduction to Inventory, Part 2: Stock Items
- Read Introduction to Inventory, Part 4: Transfers
- Read Introduction to Inventory, Part 5: Stocktakes
How do I start using the Inventory Module?
If your Organization would like to begin using the PurchasePlus Inventory module, please contact your Account Manager or our friendly Customer Success Team for assistance with enabling the module, and to organize training for your users.
Note for Purchasers using Legacy PurchasePlus
The Inventory module in New PurchasePlus has been redesigned, and is materially different to the Legacy PurchasePlus Inventory module. Organizations migrating from our Legacy PurchasePlus platform to our New PurchasePlus platform will be given additional migration support.