The Just-in-Time Inventory feature allows you to control STORIS' automatic stock-reservation process. Because different products in your Product file can have different fulfillment rates based on purchase lead times and supply-chain demand, you want your auto stock-reservation process to adjust accordingly. Just-in-Time Inventory ensures that your system does not reserve customer orders unnecessarily.
Just-in-Time Inventory..
reduces inventory costs by limiting the number of products you store for long periods of time within your warehouses,
allows you to reserve inventory based on customer needs, enabling your salespeople to manage customer expectations, and
frees up inventory that otherwise would be reserved for orders that may not be delivered for a substantial amount of time.
To set up Just-in-Time Inventory on your system, use the following fields:
Inventory Control Settings - the Reserve by Date Type field allows you to reserve inventory based on delivery date or order date.
Purchase Lead Days - set the purchase lead days by vendor, category, and/or group within the vendor’s products or the individual product to establish estimated receipt dates for incoming merchandise.
Auto-Fill Days - set the auto-fill days globally or locally by vendor, category, and/or group within the vendor’s products or the individual product to determine how many days prior to a customer’s delivery date STORIS reserves the inventory.
Assume your store has one mattress on hand. At 10 a.m., a customer buys a mattress but does not need the mattress for 30 days later as the house they are moving into is not finished yet. The next day, a different customer wants a mattress for delivery the following day. Since you receive bedding inventory each week, you set your auto-fill days to seven days. In this example, STORIS does not reserve the mattress on-hand for the first customer as the 30 days delivery date is outside the auto fill days for that type of merchandise.
Since the second customer that needs delivery tomorrow, and that order falls within the seven day inventory reservation window, STORIS reserves the merchandise for the second customer. Seven days prior to the customer’s delivery date (based on the auto-fill setting by product, category, group, vendor, global) STORIS checks all orders scheduled for delivery within that time frame and reserves merchandise accordingly. If sufficient inventory is not available to fill the orders, STORIS reports these potential delivery conflicts (see below) so you can fill the orders and satisfy your customers.
Automatic Purchase Order Replenishment - STORIS can automatically create purchase orders to satisfy customer demand based on lead time, auto-fill settings, and sales information.
Automatic Store Stock Replenishment - STORIS can automatically generate transfers to move stock based on minimum and maximum quantities specified in the Warehouse Inventory Settings.
Product Performance and Purchase Recommendations - This routine provides buyers with the ability to target individual products’ stock, purchase order, sales, and ordering information.
Exception Reporting - notify users of customers when insufficient quantities exist to complete their deliveries.
- Report Sales Orders with Delivery Dates in Jeopardy