What is Stock In ERP?
To ensure enough supply of goods storing product in warehouse is called stock.
Most of the distributor companies invest biggest part of their business capital in stock. Using TechBeeo ERP you can keep eagle-eye on product availability, movement, selling and buying as well.
To survive in this competitive market, you have to keep close eye on Stock Management System of your business. In modern world we can think something different that will reduce brain pressure and monitor our business dynamically.
There have three types of entry available:
- Purchase Receipt: Receiving good from supplier using Purchase Order
- Stock Entry: Moving item from one warehouse to another.
- Delivery Note: Product delivery to customer
Material Request is a process when a product list is sent to higher authority by realizing the requirement of product.
When you go to “Explore>Stock>Stock Transaction>Material Request>New”, you will find the material request form.
Properties of this form are described below.
- Get Item From: Using this drop-down you can check the material request list like sales order, product bundle etc.
- Get Item From BOM: If item entry is done before Bill of Material, We will find the Item Request such way as well.
- Type: Type of Material Request can be mentioned here. Like Purchase, Material Transfer, Material Issue or Manufacturer you have to mention here.
- Table: Item Code, Quantity, For Warehouse, Required Date these are some common fields that you have to fill with data. If you click on “Get Items From” or “Get Items from BOM”, all the required fields will be filled automatically.
- More Information: In “Requested For” field, we can add the name to whom the requisition is granted.
- Printing Details: You can add letter head and printing head for business advantage.
- Terms and Conditions: If there has any condition, you can add this in Terms and Conditions field.
Stock entry is an easy solution that helps to show product movement from warehouse to warehouse. You can add new stock entry from “Stock>Stock Entry>New”
Stock entry people use for below purposes.
Material Issue: To exit product from stock.
Material Receipt: To add product in stock.
Material Transfer: To transfer product from one warehouse to another warehouse.
Material Transfer for Manufacturing: To transfer product from stock to industry to produce product.
Manufacturer: If stock has enough material to produce goods.
Repack: Creating new item from main item is known as Repack.
With the change of purpose, you will notice field change as well. You have to enter stock entry depending on your necessity.
Fill the below fields of the table:
Source Warehouse: You have to select a warehouse.
Target Warehouse: To transfer product from one warehouse to another warehouse.
Item Code: Short name of product.
Quantity: The numbers are measurable.
Additional Costs: If there has any cost included during stock entry, you can add here.
Delivery note generates when invoice sent to warehouse. A copy of delivery note need to send in time of transport. Delivery note is a list of products that helps to update the stock. Delivery note entry and purchase receipt entry are quite similar. You can create new delivery form by going “Stock>Delivery Note>New”.
Fields of Stock Management System is described below.
Get Items From: Using this you can display Sales Order data in Item Description field.
Customer: If you have created customer, you can see here.
Customer PO Details: If you have old customer Purchase Order, you can see here.
Address and Contact: You will find customer information like contact information here.
Currency & Price List: What will be the default currency, you can mention here.
Item Description Field: You can add item description here.
Taxes & Charges: You can add government Tax Information here.
Additional Discount: You can add discount information here.
Terms & Condition: If there has any term & condition of transaction, you can mention here.
Transporter Info: You can add delivery vehicle information here.
More Information: If you want to store any extra information, you can add here.
Commission: Sales commission you have to add here.
Sales Team: You can add sales team information here.
After save and submit, you can create delivery note easily.
Collecting the product using Purchase Order is known as Purchase Receipt. You can create purchase receipt directly. Use the path “Stock>Purchase Receipt> New Purchase Receipt”.
Get Items From: Using this Purchase Order will be filled directly to Items Description Table.
Supplier: You to select supplier name from the supplier list.
Supplier Delivery Note: You can add delivery invoice note here.
Address & Contact: You can add supplier contact information here.
Currency & Price List: Transaction currency should be mentioned here.
Items Description Table: In this table you will find few common field like Item Code, Accepted Quantity, Rate & Amount.
Taxes & Charges: You can add government Tax here.
Additional Discount: You can mention additional discount here.
Terms & Condition: You can mention terms and condition here.
Raw Material Supplied: You can mention Raw Material list in your warehouse.
Following the way, you can complete purchase receipt.