Reorder Point - the lowest point in which you would like inventory of this specific item to go before ordering more. Items must go below this level to trigger reorder. Items set to 0 will not reorder until you go into negative stock. This is not advised.
Restock Level - Once items inventory drops below “reorder point” the point in which you would like to order back up to.
Selling iphones, reorder point: 10
restock level: 50
Lets say I have 8 iphones in stock, and am placing an order for more, system prompts to order 22 iphones, 8+42= 50 (restock level)
This can have two uses in ERPLY:
1. Passive - When created PO you can open item card and use this info to forecast how much of item to order. Restock levels are shown on product card.
2. Auto generate(recommended) – using “stock replenishment” report in ERPLY, these predefined restock and reorder points can be used to auto generate PO’s:Using Restock and reorder points to generate PO’s via ERPLY “STOCK REPLENISHMENT REPORT”
1) Define on product card these Restock and reorder points:
2) For our example, I opened up POS and sold 34 of these items, taking stock level down to -3:
4) Once open you will see that the system has placed our example item highlighted in Pink
-By clicking “select items below reorder point” button, you will notice that system automatically adds “amount to order” based on these predefined Restock and Reorder levels:
-For our example we defined reorder point as 5 and restock level as 30. System shows that in stock were -3 items so in order to restock to 30, must order 33 of this item.
5) By selecting the 2nd grey button “add selected items to Purchase orders”, you can have the system auto generate the PO going out to supplier for this item.
-you can see this generated PO after clicking this button, under the “Purchases” Module:
PO is created and ready to be sent to supplier