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Introducing Purchases Module


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This premium module can help you optimize and streamline your inventory purchases.

Purchases module is build around an algorithm to calculate optimal quantity to order for each product. This algorithm takes into account

  • your desired service rate for product (for example, you want to have product readily on stock with 95% probability)
  • cost of placing supply orders (overhead you pay for purchasing)
  • cost of stock ownership (overhead you pay for keeping stock in your warehouse)
  • supplier lead time (some supplier can deliver in 3 days, other in 90 days)
  • actual demand on product -- how much have you been selling this product (weight average)

The algorithm will take all this, and for each product generates information like safety stock, reorder point, reorder quantity, etc.

The numbers heavily depen on algorithm input parameters. Initially, you should tweak the parameters and observe how these calculated metric changes, until you are satisfied.

On top of these data we have build a Purchase Order tool. You can easily create purchase orders for each supplier. The module will advice you what and how many items you should order. 

You can also set up module to automatically generate Purchase Order drafts for you (for products that are low on stock and should be ordered).

This can greatly help you with your purchase process. And, if set up correctly, it can help you optimise you cash flow -- don't keep all your operational money in stock that can depreciate in time.



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