Inventory Management is a very important tool to get a proper management of your business. Before starting to manage the inventory, one must be aware of the difficulty involved in it.
REVO is in charge of managing all the inventory units and decreasing the stock as products are sold in your premises, but it requires a previous setup and continuous maintenance by the business administrator.
Two very quick steps have to be taken beforehand:
Firstly, a warehouse must be created. So let's go to Settings Warehouses and create the warehouse with the +New button. Then give it a name, for example, Main Warehouse. If the warehouse is already created, you can simply edit the name or leave it with the default name.
Then, you have to assign this warehouse to a cashier. For this, we go back to Settings Cashiers and edit the current setup to assign the warehouse created with the cashier from where you want to discount the inventory.
There are three different ways to control and manage inventory with REVO.
These are the products bought and sold by the unit. Example: Soft drinks.
These are the easiest to manage. In the following example, enable the inventory management of the Coke product.
Go to the product tab and enable inventory management.
Once this is done, several options are displayed. First, check that the unit selected by default is the Unitat.
- Next, you need to enter the current stock units; go to the Inventory option (0). The following screen is displayed:
Note: It is very important to always use the same unit. You have previously selected Unitat, and the same Unitat is selected here by default.
Add real stock.
If you use the module for purchases, enter the units of this product you want to have by defect. Every time you fall under the limit indicated by default, you will see the option to create a purchase order with the remaining units. For example, let’s say that you have a real stock of 49 units and have entered 50 units by default. At that moment, the Refill option of the same screen will show number 1, which are the units needed to reach the figure entered by default.
Finally, in the inventory alert field, enter the units to have the system warn you that this product is under the limit, and you need to refill.
Note: Revo reviews all products that are under inventory alert on a daily basis and sends an email indicating all products with low stock. For this, it is essential to have your email entered in the profile of the Revo account. You can check it through this link: User profile. And activate the Notifications.
Once this is done, each time that a Coke is sold from the REVO app, a unit of its inventory will be automatically deducted.
2. COST CALCULATION
Sometimes you need to calculate the cost of a product in order to have a proper management of your inventory. That is, when a product is created by a variety of ingredients. For example, a Burger, including bread, meat, lettuce, tomato and other ingredients. In this case, REVO allows you to delve a little more and get to have an exhaustive control of all your goods.
For that, it is recommended to go to Groups and create a hidden group (disabled) with all the ingredients that will be part of the cost calculation. Hide the group so that it is not visible in the REVO app, but the ingredients exist to manage the cost calculation. These types of products used only for inventory management are called: management only products.
Enable the inventory management for each one of them, as seen before, specifying the proper units and entering the corresponding stock.
Note: It is very important to always use the same unit. Both on the main screen of the product and inside the warehouse.
Finally, go to the Burger product and add the proper cost calculation.
Note: It is important to understand that, in this case, the inventory of the ingredients is controlled, but not the final product, that would be the Burger. When a Burger is sold from the app, the inventory of each of the ingredients is deducted depending on how they are set up in the cost calculation.
3. PRODUCTS WITH SELLING FORMATS
REVO allows you to sell products with different selling formats, substantially improving the inventory organization and management. In each of the formats you can set up the price, the amount to be deducted from the inventory, unit, rates and a combination group if required.
Let's see an example to make it clearer. You have a wine reference sold by the bottle and by the glass. Well, instead of creating two different products, you can create the wine reference as a product with a selling format.
Creating a product with a selling format is very simple. Once in the category, go to the +New button and Product with Selling Format.
Then, add the name and in the price tab enter Selling Formats.
Note: Before you can enter selling formats, you must Save the product.
Here you see the following fields:
- Selling Formats List: List to add selling formats for this product.
- Price: Price of each selling format.
- Quantity: Amount to be deducted from inventory for each selling format. In this example, discount 1 bottle of 75cl wine when you sell a bottle and 15cl when you sell a glass of wine (5 glasses for each bottle of wine).
- Unit: In this example, a specific unit has been created to control the inventory with L. But it could be done with the standard unit, where you discount 1 unit when you sell a bottle and 0.20 units when you sell a glass.
- Rates: If the account created different rates by amount, you can add them here for each selling format.
- Combination Group: Here you can select a combination group, in case that the selling format is combined with other products. For example, a combination of whiskey and a soft drink.
In the app, when you select the product with a selling format, the following screen is displayed:
4. CREATION OF UNITS
Revo XEF comes with a series of basic units to perform inventory management. In case of need, you can create as many units as required. For this, enter the purchasing module:
1. Go to Purchase Orders section.
2. Click on Units.
3. In the top right corner, click on the +New button.
4. Name: Enter a name.
5. Unit: Enter Main Unit.
6. Conversion: Enter the conversion.
7. Click on Save.
In the example, you can see how a new unit is created, called "Bottle", in order to carry out an inventory management of the wine bottles with the main unit L and the proper conversion.