Introduction
The Stock management module can save status for stocks of products into warehouses and edit/correct quantities of products.
Installation
This module is included with the Werpos distribution, so there is no need to install it.
Configuration
To use this module, you must first enable it using an administrator account, via the menu option “Home – Setup – Modules“.
Choose the tab where the module is listed. Then click on “Activate“.
The module is now activated.
If an icon appears at end of the line for the module, click on it to access the setup page specific to the module.
The setup page allows you to choose from four options, when the stock is automatically incremented or decreased (depending on events in the order or invoice business process).
Definition
- Physical stock is the quantity of products in the warehouses.
- Virtual stock is the physical stock MINUS the number of products ordered by customers (orders with status validated) PLUS the quantity ordered from suppliers (orders with status “sent to the supplier”).
Create a warehouse
The creation of a warehouse is the mandatory first step for stock management. You can create a warehouse on the Products/Services tab, clicking Stocks on the left menu and then New warehouse stock. The only required information is a reference code and a warehouse name, the other fields are optional. You must then set whether the warehouse is active or not (opened / closed). A closed warehouse cannot be used by other Werpos functions. This is a good way to prepare a warehouse with stock before you activate it, or to temporarily block stock movements during an inventory.
Allocate product stocks
- This has to be done from the stock tab on the page of the product, which can be found on the products section of the left menu.
- You can also do this from the stock tab on the page of the warehouse.
For multiple updates of stock, the import process should be used.
Automatic stocks update
Depending on the module configuration, the stock is updated either at the time of an order, at the time of shipment, at the time of invoice, etc.. A movement of stock is then registered according to the chosen increase/decrease stock option.
Manual stocks update
If you wish to make adjustments to the existing stock amounts (because of internal production, theft, loss, aging, …), you can do it directly via the stock tab on the page of the product. Use the label field to specify the reason for the change, or to add miscellaneous information.
Warehouse strategy and valuation
It is possible to obtain a detailed list of products and movements in a specific warehouse by clicking on the name from the list of warehouses.
Removal strategy
When using stock decrease on shipments, a removal strategy is a removal rule to decide which lot/batch/serial, or from which warehouse you take a product when you are doing a shipment.
- FIFO: First in, first out
- LIFO: Last in, last out
- FEFO: First expiry, first out
Currently, Werpos does not suggest any product lot or warehouse by priority when you ship a product. You choose from the interface which product/lot quantity, from which warehouse you use. So the removal strategy is a manual selection by the user. You can choose according to FIFO, LIFO, or FEFO, at each shipment.
In a future, a removal strategy may be implemented so the application will use a default choice to suggest the lot/serial/warehouse/qty to match a default removal strategy rule.
Stock valuation
With Werpos, you can get a valuation of stock in two ways:
- Standard valuation: Current price of product * qty in stock
- Average Weight Price (AWP): AWP of product * qty in stock