For making us to understand easily product master data has been divided into four sections:
1. Product Section
2. Price Section
3. Reordering Section
4. Instruction Section
Product Section:
Name:
Name of the product, Which we gonna add into the item / product list.
Example:
SKU- Stock Keeping Unit :
- SKU is a unique numerical identifying number that refers to a specific stock item in a retailer's inventory or product catalog.
- It is a part of the backend inventory control system and enables a retailer to track a product in their inventory that may be in warehouses or in retail outlets.
Kind:
Nature of items, Whether the items at suppliers warehouse comes under stock, non stock, custom, etc.
Alternate Name:
Alternate name is nothing but, Secondary name to that product. I can give alternate name as per my wish which is related to that product.
Example: Absolute Black, "AB" is the alternate name to that product.
Type / Form:
This field shows the, What are the different types of product available at supplier.
Example:
Base Colour: This field ensures the basic colour of that product.
Example:
Category / Nature:
This field shows the different types of nature of a item, From where the product is derived, etc.
Origin: In which place that items were located or situated.
Sub Category: Based on the profit yielding, Items where categorized into many types, Such as high margin, low margin, mid margin,etc.
Thickness: Product thickness will be selected in this field.
Group: Based on the quality of the item,Supplier will fix classes for that item. Such as premium, basic, level 1, precious, etc.
Series: Supplier will provide a series to the similar items which are available at supplier warehouse.
UOM - Units of Measurement:
- "Units of Measurement" are terms that give meaning to quantities. Common units are ea., pc., ft., lb., gal., etc
- To keep units of measure consistent and to make sure that the people in your organization use the same variations of units, Clearly Inventory allows you to set up a table of "approved" units of measure.
Price Section:
Selling Price:
Based on customer type, Seller will fix different price levels for regular customer, wholesale customer, retailer, Etc.
Default Affected Accounts:
GL Inventory Link Account: This field ensures the total worth of the products /goods, which are stored in warehouses. All those amount will be linked with GL (General Ledger) inventory account.
GL Income Account:
This field helps us to calculate the profit generated from the sold inventory.
GL Cost Of Goods Sold Account:
The income which is generated by selling the goods / products, Will be linked up with GL income account.
Reordering Section:
Reorder Levels:
1. Safety Stock: Safety stock (buffer stock) is a term used by supplier describe a level of extra stock that is maintained to something bad risk of stockouts (shortfall in raw material or packaging) due to uncertainties in supply and demand.
2. Reorder Quantity:
Inventory level of an item which signals the need for placement of a reorder, taking into account the consumption of the item during order lead time and the quantity required for the safety stock.
3.Lead Time:
A lead time is the gap between the initiation and execution of a process.
4. Assigned Bin / A Frame: After reordering the product, If the product arrives to the warehouse in which rack / space should place the goods.Will be decided at the time of reordering.
Purchasing Info:
1.Preferred Supplier:
Any supplier, Who supply the products / goods in time with better quality will prefer them for always. So, We will add those preferred supplier in this field.
2.Generic Name(Supplier's Name for this Product):
If the supplier didn't know the name of the product. For a temporary case, Supplier will give a name as per his wish.
3. Generic SKU(Supplier SKU):
SKU will be given by the supplier, based on his warehouse storage and product group.
4. Purchasing Units:
In which measurement size and number of quantities, that the supplier can send the stock.
Alternate Units of Measure:
UOM group will be fixed at the organization level, But while coming to the supplier it will be changes as per supplier UOM. That's why we were using the alternate UOM group for making conversions.
Website Module:
1. New Arrival:
If any new item arrives at the supplier and want to sells that item. Then that will be adding into this section.
2. Hide on the website:
If any item stock is not available with the supplier and want to hide from the website. Then this field helps to supplier for make changes.
3. Feature Product:
If any item gets featured with its quality and type, as well as demand in the market. Then that product will be added in this field.
Instruction Section:
- In instruction section we will provide specific key notes for the shipment or any other things which don't exist in the fields to notify the company.
- Internal notes will provide for the customer, any changes that they need can enter those details in internal notes section.
- In disclamer field,We will be highlighting the instructions to the customer.
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