Mandatory Fields and Grouping
There is no prerequisite for adding products to your inventory, you can start right away. Go to Inventory ⇒ New Product and start filling out the fields from the top down. Only a few fields are mandatory, their labels are underlined. It's important to know that you can copy existing products and save yourself a lot of time.
The Product Code should be unique within your inventory. You will use the code to look up products from the inventory, for example when you select them for a sales order. You can use your existing product codes or click generate and the system will take the first letter of the product name and add three next available digits. Therefore if you wish to generate the code you should enter the product name first.
Product is the name the product that it would normally go by in it's most simple form. If you are selling cars then the product name is car, if you are selling food & beverage the product name can be pasta or juice. Do not enter the Brand here or further Typing such as Toyota and Balducci (pasta brand) or Corolla and Penne (type of pasta), as there are separate fields dedicated for the Brand name and the product Type.
Drop down list on grouping field
The Description also has to be unique and is normally created from the product name, brand and type. It's basically the full product name and used to look up products when adding to a sales order. You can use the generate link next to the description field and let the system create a description for you.
Additional product description notes that should not appear on sales orders and invoices can be inserted into the Alt Description field. Nevertheless, this field can be included in table reports at your convenience.
Product, Brand, Category and Subcategory are product grouping fields. They are used to summarize total values in reports. When you start typing inside these fields, a drop-down with existing values from the database will show.
If you have an integrated website with your IMS the Category and Subcategory are also used to create your website product menu. Select the Publish check-box to include this product in your website product menu.
Suppliers and Price Selection
Choose the Supplier for your product or click the 'Create Supplier' button to create a new Supplier. If you manufacture your own products simply add your company as a supplier to the list. Alternatively, if you find it less important to track your product suppliers you can simply assign all your products to a supplier named 'Miscellaneous'.
The Purchase Price the price your supplier charges you before discounts and without other costs added such as shipping, taxes and other duties. The Currency set here is also used for the selling prices Retail, Trade and VIP at the bottom of this same section.
At manual order entry or when your customer is buying from you through your website, the IMS automatically selects your Retail (B2C), Trade (B2B) or VIP (B2B) pricing scheme. Then additionally, depending on the country of delivery, tax is automatically included for retail customers and added separately for your Trade and VIP customers. The price selection procedure is best explained using the following process diagram.
- If the customer is a online first time customer they are assigned the default profile which is set to Retail,
- Else if your customer is a returning customer and their profile is set to Retail, then also the Retail price is selected,
- Else, if you are selling to an existing client and the account type is preset by you as Trade or VIP, the Trade/VIP price will be selected.
Following the price selection process the final price at the bottom of the pricing section will be the final selling price shown on your sales order before discount. The Trade, Retail and VIP selling prices in this section are set manually. Try changing the selling prices and the Margin will adjust as you type.
The Purchase Discounts and Cost Entries are there provided to you as an aid to determine the Margin that you want for that specific pricing type of this product. You first set the purchase price and discounts, then add the costs and finally play with the selling price until you have the Margin that works for you.
The IMS allows you to manipulate the cost per pricing type to solve more advanced pricing strategies. On the example on the right only purchase discounts and duty are applied. All the other cost fields are left zero. For Trade and Retail the total cost is the same but in this example the duty doesn't apply to the VIP cost calculation.
Now by changing the selling price you will see like in the example that the margin is calculated using the total cost and the selling price. In the calculation the selling price is 100% and therefore the margin can not be more than 100%.
Total Cost = Purchase Price - (Purchase Price × (Discount 1 + Discount 2) ÷ 100) + Shipping Cost + Duty + Tax + Other Cost.
Margin = 100 - (100 × Total Cost ÷ Selling Price).
Product stock, locations and units
The product total Stock value is a read-only field and is updated every 2 seconds with the real-time total stock level changes for this product. To manually adjust the product stock levels for each location click the Edit link next to the stock value. The columns of the stock locations pop-up can be sorted by clicking the headers.
Beer bottle selling-unit and packaging example
For your daily operations you should not require to change your stock here because the IMS will automatically adjust your product stock levels when sales orders and purchase orders are being processed. However, you may use this section to make your corrections from regular stock takes.
Select the Infinite check-box to disable the check for required available stock levels at order entry and on-line order fulfilment.
The product Unit Of Measure will appear next to the quantity on most business forms. It may also be used to print on published pricing lists or on your website. This field may be left empty and then this will cause the unit not be printed next to the quantities on your pricing lists.
Packaging is a the second level packaging for this product used in your warehouse. It will be printed on the customer order picking lists to be processed by your warehouse staff. For example, say you are selling 30 bottles of beer, the unit of measure is a single bottle and your packaging is a crate of 24 units (bottles), the picking list will list 1 crate and 6 bottles to be picked from the shelves. The packaging field may be left empty. If you do, the system makes it the same as the unit of measure.
The Minimum Order Qty (MOQ) applies to manual order entry and online sales. Optionally your sales staff may be assigned the permission to overrule this setting.
You can set Minimum, Required and Maximum stock level alerts. An email is then sent to the users assigned the "Stock Level Alert Role" when product stock levels fall below the minimum and required thresholds and when stock levels are exceeding the maximum threshold. Leave any of these values empty or set to zero to disable the alert. The alerts are valid for the same product at all locations. In case your business requires varying alert levels between maintained locations you can set the alert levels for each location through the Locations link. To change the "Stock Level Alert Role" select Settings ⇒ Email from the menu.
The minimum product Picture size for the height and width is 550 pixels. Any size below that will be rejected by the system and pictures uploaded larger than 550 pixels will be resized to 550 pixels.
The system allows you to upload and attach product specific Documents. Right now the documents are only being used to display when products are picked from the inventory through the picking list menu option. Other applications are considered such as including the documents when publishing and attaching to orders sent to customers by email. If a feature request is receiving enough customer support through our online forum YBO will prioritize its development.
Product Details may be part of your online product list depending on the content item settings of your product list. Always double check your online product list to make sure your changes align with your website template design.
Finally, click the Save button to add your product to the inventory or to save changes to an existing product.