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.
Note: Restock/Reorder Points are set up per location, meaning each location has their own unique Restock/Reorder points. You can use the import to assign them to a product, or manually adjust them in the Inventory Tab of the Product Card.
Product ‘Test’ has a Reorder Point of 5 and a Restock Level of 10. It’s current stock is at 4. That means, when I run the Stock Replenishment Report and click ‘Select items below reorder point,’ it will auto-populate the report with an order amount of 6. This amount will bring me back up to 10.
This can have two uses in ERPLY:
- Passive – When created PO you can open item card and use this information to forecast how much of item to order. Restock levels are shown on Product Card.
- Auto Generate (recommended) – Using the Stock Replenishment Report in ERPLY, these predefined restock and reorder points can be used to auto generate Purchase Orders.
Using Restock and Reorder Points with the Stock Replenishment Report
- If not already setup, assign a Restock/Reorder Point to a product using the import tool or manually in the Product Card. In this example, the product has a current stock of 4, a Reorder Point of 5, and a Restock Level of 10 at Location 1.
- Next, go to Reports -> Inventory in the Back Office. Choose a location and open the Stock Replenishment Report.
Optional: Since I’m only looking for products below their Reorder Point, I’m going to choose ‘Show only products with stock on hand below Reorder Point’ from the first dropdown menu above the Stock Replenishment Report. This is an option step.
- Once opened, the Stock Replenishment Report shows the Example Product highlighted in red. The other items on the list do not have a Restock Level set, but they are still below their Reorder Point so they appear on this report.
- To automatically fill in the ‘Order’ column for products below their Reorder Point up, click ‘Select items below Reorder Point.’ This will order up to the Restock Level amount. As you can see in the screenshot above, this has added 6 to the Example Products column.
- Once completed, click ‘Save & Make Purchase Orders’ to create a Purchase Order based off of this report. A confirmation popup will appear asking ‘Do you want to add selected items to purchase orders and adjust stock level?’ Click yes. The Stock Replenishment Report will disappear and be replaced with a confirmation stating “Products added to purchase orders.”
The Purchase Order has now been created. Locate the Purchase Order and complete as normal.
Note: If there is an unconfirmed Purchase Order, the items from the Stock Replenishment Report will be automatically added to it instead of creating a new one.