Managing inventory effectively is crucial for any business that deals with physical stock. Follow this guide to add new parts or inventory items, like fluids and disposables, to your inventory system.
Getting Started with New Inventory
Before diving in, ensure you're in the inventory area of your system:
- Click on Add New Part to start entering the details of the new inventory item.
Entering Part Details
You'll see several fields to fill out that define the part you're adding:
- Part Name: This could be a descriptive name, like '5W-30 Oil'.
- Part Number: Assign an internal or manufacturer's part number, such as 'R4GA2'.
- Part Description: Give a detailed description, like '5W30, Level 1, Full Synthetic', which helps in identifying the product specifics.
Vendor Information
Choosing the right vendor is essential for tracking and financial purposes:
- Select or Add Vendor: If the vendor is not listed, use the plus (+) sign to add a new one. Make sure the contact type is set as 'vendor'.
- Assigning Costs: Enter the cost per unit, which is crucial for pricing strategy later on.
Starting Quantity
- Initial Stock Level: Specify the starting quantity of the item you have on hand, for example, '16'.
Additional Inventory Information
Don't forget to customize your inventory settings:
- Photo: You can add a photo of the part for visual reference.
- Minimum and Maximum Quantities: Set thresholds for inventory alerts – for instance, a minimum of '16' and a maximum of '96' to trigger reordering or prevent overstocking.
- Service Type: If applicable, assign the part to a specific service type.
- Manufacturer: You can also specify the manufacturer for additional tracking.
Tracking Sales and Purchase History
Understanding the movement of your inventory is key:
- History Tab: Here, you'll find a record of how often items are sold and at what price.
- Purchase History: This section will show the details of your purchase orders, such as the quantity and cost.
Inventory Adjustments and Profit Tracking
Inventory management is dynamic, so adjustments are sometimes needed:
- Manual Adjustments: If necessary, you can make manual adjustments to the inventory levels.
- Part Profit: This figure, visible in your inventory overview, reflects the profitability based on your pricing settings, which will be explored in the next tutorial.
Finalizing Your New Inventory Addition
To wrap things up:
- Review: Double-check all the information you've entered for accuracy.
- Save: Hit the save button to officially add the new part to your inventory system.