Tools

Replenish Stock - How To's

Author: Steve Childs Reference Number: AA-02770 Created: 2020-12-17 08:02 Last Updated: 2023-06-07 07:42

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How it Works

The Stock Replenishment tool was designed to help you determine (mathematically) how much additional stock you need for each item in your warehouse. It works this way:

I. Past Sales History:

Gathers your criteria:

What PAST date range of Sales History do you want to analyze?
How many days, weeks, or months worth do you want to have on the shelf?
Which set of items do you want to analyze?

ALL Items?
All items for X Supplier?
Certain Items by PO Category?
All Warehouses or just 1 certain Warehouse?

Do you want to compare Min/Max levels as well?

If so do you want to ignore items that were added before a certain date? (The idea here is to use Min/Max levels to analyze NEWER items that may have NO SALES HISTORY).

Do you want to COMPARE any Vendors prices Side by Side? If so which ones? (You can compare up to 4 side by side).

Click Show Parts to Buy
Review the Suggested Re-Orders. Here is how the math generally works:

How many did you sell (in the PAST RANGE selected) of each item? (GrossQtySoldInRange)

We will say 115

+ Did you have any lost sales to add in as 'could have sold'? (QtyLostInRange)

We will say 5

--------------------------------------
= 120 sold (and/or or could have sold) (NetQuantitySoldInRange)
How many might we need to have a 90 day supply on the shelf?

How many days in PAST RANGE (2/1/2019 - 1/31/2020) = 365 days (NumDaysInPastRange)
How many days are in the FUTURE RANGE? (90 days).
What is the % of FUTURE RANGE compared to PAST RANGE? 90 days / 365 days = .248 % (roughly 25%) (FuturePercentOfPastRange)
So then... how many do we need on shelf for 90 day supply? 120 sold (in PAST RANGE) x 25% = 30 (GrossQtyNeededForFutureRange)

Now...How many are coming and going already?

We need 30
How many Sales Order Back Orders do we have? 5

30 + 5 = 35

How many do we have already on the shelf? 2 (Subtract this number off total needed)

35 - 2 = 33

How many do we already have coming on PO's? 12 (Subtract this number off total needed)

33 - 12 = 21 (AdjGrossQtyNeededForFutureRange)

Do we need to buy the item in a certain case Qty?

We will say yes, in 8 per case.
So we will round the 21 needed to 24 (so we can buy 3 full cases)

So we need to buy 24 (NetQtyNeeededForFutureRange)

How to Use the Replenish Stock Screen (to purchase more inventory from 1 or more Vendors)

I. To open the Replenish Stock screen:

On the Main Menu Bar, click on Purchasing > Replenish Stock.
What do you want to do? > 1. Calculate & Display List of Items to Buy > Click on Proceed

II. Selecting Criteria

Analysis Method

Option 1. Past Sales History (default)

This will run the math as shown above in the How it Works section.
NOTE: This is an option below that will let you ALSO re-analyze all parts that we NOT selected using Min/Max levels

Option 2. Or, Min/Max Levels

This will run the math strictly on Min/Max levels.

If you min = 4 and your max = 8, and you have 4 in stock you will need to buy 4 more (less any already coming, etc)
If you min = 4 and your max = 8, and you have 2 in stock you will need to buy 6 more (less any already coming, etc)

Select Past Sales History Date Range

Select a date range that you think may most closely help you anticipate your sales in the future range you select.

For instance, if you seasonally sell 25% more in the spring, and we are buying parts for the spring months, then maybe you will want to select that same date range from the year before?

Select a Future Amount (to have on shelf)

Select a quantity, such as 3 months, or 45 days, etc

Select Filters

Vendor:

If you select ALL there will be no filter by Vendor.
If you select Vendor X then only parts that have Vendor X as a Vendor on the part Item Detail record will be considered in the Sales History analysis.

PO Category

This helps you sort the items based on their category.

Warehouse

Select which Warehouse to use.

Load Saved List

This will show the list of the any table saved.

Vendor Comparison

Let's the user select up to 4 vendors to compare.

Automated Functions:

1- Export ALL items on list to Excel.
2- Auto fill the Vendor Qty to Buy (on each item) for the Vendor that has the lowest cost. (Note: Vendors with $0 will be ignored, unless ALL vendors have $0 cost, in which case the 1st selected Vendor will be updated with the Qty to Buy).
3- Unselect All Vendor Qty's'. (Then when this is selected it will set the Qty to Buy (for each Vendor) back to 0).
4- Import Vendor Costs from Excel spreadsheet.
5- Update the Vendor Costs (on this list) to the current cost listed on the Item Detail screen, for all applicable Vendors.

III. Getting the Initial Numbers (what needs to be purchased)

After selecting the above criteria, click on Show Parts to Buy.
A table will appear with the items calculated by the system that will show the numbers for QtyNeeded and QtyToBuy.
Click on Proceed.

IV. Exporting the Results

You have the option to export the table and do the work on the excel and importing it to 1place to Create PO.

V. Saving the Results

After loading the list, click on the Save List For Later.
This will let you Name the table and the description. You can find this list under Load Saved List field on the main screen for Replenish Stock.

VI. Emailing Parts to Vendor (for a Quote)

After clicking on the Proceed button, the Auto Create PO or Request for Quote (RFQ) window will popup.
This window will let you select the Vendor, then it calculates the # Items on PO, # of United on PO and the PO Total.
Check the Request for Quote (RFQ) box. Then input the email address(es) of the vendor.
This will download the list of items to buy from the vendor and open the email window.

VII. Importing Vendor Price Quotes

Click on Functions button on the buttom center of the page.
Select #4 - Import Vendor Costs From Excel Spreadsheet. Click Execute.
On the Import Wizard,

Import Type: Vendor Item Numbers (1 Vendor)
Item Vendor: Select one Vendor
File Name: Browse your excel file
Select 'Import New Records

Map the columns then select Proceed.

VIII. Creating Purchase Orders

After clicking the Proceed button, the Auto Create PO or Request for Quote (RFQ) window will popup.
This window will let you select the Vendor, then it calculates the # Items on PO, # of United on PO and the PO Total.
Check the Create PO box, click Proceed. This will bring you to the newly created PO.

How to Use the Replenish Stock - Intercompany Stock Transfer feature (to automate transferring inventory from 1 warehouse to another).

Overview

The Replenish Stock - Intercompany Stock Transfer tool was created to solve these 2 problems:

PROBLEM 1 (Scenario 1 - Transferring (Sharing) Inventory Between Warehouses): In this scenario 2 or more warehouses stock and sell and deliver/ship parts. Inventory in Warehouse X is getting low. But we are not sure WHICH parts we are getting low on. We have truckloads of parts coming from domestic suppliers and/or 'containers' of parts coming from over seas but they are x weeks away from being delivered. We need to be able to automatically determine the average sales in Warehouse X, then determine which items are out of stock in Warehouse X, etc. We also need to determine the same information for whichever warehouse we want to transfer parts FROM to make sure we do not take TOO many parts from their warehouse. When all of this has been determined we need to see the stock details, per item, for both warehouses, then make any final adjustments, and then automate the process of creating a stock transfer (that will show up on the Shipping & Receiving screen in the FROM warehouse).
PROBLEM 2 (Scenario 2 - Transferring (Pulling) Inventory from Overflow Warehouse(s) to ONE Main Warehouse): In this scenario we have 2 or mor warehouses that store inventory, but only ONE of the warehouses (the MAIN warehouse) stores and sells and deliver/ship parts. The other warehouse(s) are ONLY used to store extra inventory as 'Overflow' warehouse(s). We will assume Warehouse X is our MAIN warehouse. We also have 1 or more 'extra' overflow warehouses that have stock in them but do not actually 'sell' stock from them. In other words, the MAIN warehouse does ALL of the sales, and the picking people sometimes pick stock from the other 'overflow' warehouses as well. We need to know which parts in our Main warehouse are running low, how many we will need for x days of supply, then check to see if the overflow warehouse (we select) has any to send us, and then automatically create a 'Stock Transfer' that will appear on the Shipping & Receiving screen so we can print a Stock Transfer to assist in picking and transferring.

How to utilize the Intercompany Stock Transfer (to transfer and share inventory between 2 or more warehouses)

Open the Purchasing > Replenish Stock screen.
On the 'What do you want to do' section select: 2. Calculate & Display a List of Items to Transfer.
In the Past Sales History Date Range, select a date range (in the past) that will best help you determine how many you might need for x Days or Months of supply in the future.

For example: You may want to select a date range that is broad, such as a full year of sales history. Or, if your sales are seasonal, you may want to select a recent date range in the past that most closely resembles the current season you are in or coming into.

In the Future Amount (to have on the shelf) section select an approximate amount of stock that you'd like to have on your shelf.

For example: Suppose you entered 2 in the For field and Weeks in the Time Frame field. This would tell 1place that you want to end up with enough stock to have a 2 week supply of inventory on your shelf (based on the estimated amount needed which will be determined from the Past Sales History Date Range sales analysis).

In the Transfer TO Warehouse select the Warehouse that you want to transfer inventory TO.
In the Transfer FROM Warehouse select the Warehouse that you want to transfer inventory FROM.

How to set up Min & Max on your inventory table.

I. How to get the Item List with the Min and Max columns.

Go to Item List Screen > Click on the gear button on the right. > Select all the columns: Item, Description, Type, Min (Reorder Point) and Max (Stock Level).
Click on the column header check-box > 'Select all records on this ENTIRE LIST' > Click on the Download to device icon on the right part of the screen. Click Yes on the popup window.
Use the Excel File to modify the Min and Max values.

II. Update the Min&Max on 1place using the Excel File.

On the Item List Screen > click on the Upload to 1place icon.
On the Import Wizard screen,

Import Type: Item List
File Name: Browse your Min&Max Excel File.
Select on Update Existing Records.

Map the Columns and fill in the Required columns (Item Number, Type, Min (Reorder Point) and Max (Stock Level).
Click on Proceed.