Child pages
  • Advanced Inventory in RetailManager (packages and components)


 

 

RetailManager

ANSWER ID:9411

This topic is designed to help you set up your packages and components in RetailManager. The examples listed below show you a practical application on how RetailManager will deal with packages and components and their implications on stock.

Example 1: The Bottle Shop (linking items)

When selling beer, whether it be a single bottle, a 6 pack, or a whole carton, RetailManager allows you to link all three items together to achieve and simplify the inventory control you require.

This example will show you how to do this using the following tasks:

  1. Create the Carton (fractional quantity item) the stock that you buy (as one) but has the components , in other words bottles of beer, that can be used in other packaged items or sold in singularity , in other words 1 bottle.
  2. Create the 6 Pack (a packaged item) the stock item that contains components , in other words bottles of beer.
  3. Create the 1 bottle of beer (singular item) which makes up a component , in other words a bottle of beer, of the original carton purchased as stock.

 

Creating fractional quantity item, "packaged" item, and singular item

Task 1: Create the Carton Fractional Quantity Item

  1. Go to the Information menu and choose Stock.
  2. Create a new stock item for the Carton of beer.
  3. Fill in the Barcode, Description, Departments and Categories fields as necessary and select the Fractional Quantities option.
  4. Click Commit or press F10. See our example below.

Task 2: Create the 6 Pack (the packaged item)

  1. Go to the Information menu and choose Stock.
  2. Create a new stock item for the 6 Pack of beer.
  3. Fill in the Barcode, Description, Cat and Sub fields and select the Package option.
  4. Click Commit or press F10. See our example below.
  5. On the Stock window, enter the barcode of the 6 Pack. You will then be able to see other options apart from the General options tab.
  6. Click the Components tab.
  7. Add the barcode of the Carton into the highlighted field and press Enter on the keyboard.
  8. Enter either 1/4  or .25 into the quantity field, in other words a 6 Pack is 1/4 of a Carton.
  9. Press Enter to skip the Unit Sell field.
  10. Enter the price you want to sell the 6 Pack for in the Total Sell field, then click Add. See our example below.
  11. Click the X in the top right hand corner to close the Stock window.

Task 3: Create single bottle of beer (the singular item)

  1. Go to the Information menu and choose Stock.
  2. Create a new stock item for the single bottle of beer.
  3. Fill in the Barcode, Description, Departments and Categories fields as necessary and select the Package option. See our example below.
  4. Click Commit or press F10. You will be taken back to the Stock window.
  5. Enter the barcode of the single bottle. You will then be able to see other options apart from the General options tab.
  6. Click the Components tab.
  7. Add the barcode of the Carton into the highlighted field and press Enter.
  8. Enter either 1/24 or .042 into the quantity field, in other words a bottle is 1 unit of 24 in a Carton.
  9. Press Enter to skip the Unit Sell field.
  10. Enter the price you want to sell the bottle for in the Total Sell field then click Add.
  11. Click the X in the top right hand corner to close the Stock window.

Summary

When packages are used in this way, only the Carton can be purchased in a Goods Received as packaged items cannot be bought.

Also, when your business performs a stocktake or you want to look at your stock holding, the unit of measure will be the Carton, not the 6 Pack or Single beer. You must thus, ensure care in counting the stock.

The same principle as outlined above can also be used for any type of stock in other words purchased in bulk, then broken down and sold in smaller units. 

Example 2: The Bike Shop (bulk item that can be sold separately)

A bike shop purchases components (seat, wheels, brakes and so on) that need to be assembled to make a complete bike. These component items can also be sold separately. This example will show you how to record any type of item bought in bulk, which is then sold in smaller units.

 

Recording a bulk item to be sold in smaller units
  1. Create each individual item that is used to make the bike (go to the Information menu and choose Stock).
  2. Create a new stock item for the bike.
  3. Fill in the Barcode, Description, Departments and Categories fields as necessary and select the Package option.
  4. Click Commit or press F10. You will be taken back to the Stock window.
  5. Enter the barcode of bike.
  6. Click the Components tab.
  7. Add the barcode of the wheels into the highlighted field and press Enter.
  8. Enter the number of wheels used to create the bike into the Quantity field and press Enter.
  9. Press Enter to skip the Unit Sell field.
  10. Enter a price into the Total Sell field then click Add. At this time there is no need worry about the amount entered because we will come back and adjust it once all the components have been entered.
  11. Repeat steps 7 to 10 for each other component that is part of the bike.
  12. Once you have added all components, you will notice that the Total in the lower right hand corner is the sum of the Total Sell fields of each individual component. This may not be the price we want to sell the Bike for. Our example below shows the Total as $204.64.
  13. We want the price of the Bike to be $275.20, not $204.64. Adjustments can be made to each component by clicking them one at a time, adjusting the Total Sell field then clicking Add. The example below shows the adjusted Total figure displaying the correct price after adjustments have been made. 

Summary

When the Bike is sold, the quantity of each component will be subtracted from their current stock holding. For example, if you had 20 pedals in stock, and you then sold a bike, you would be left with 18 pedals in stock. (20 - 2 = 18)

This type of package differs from the way we set the Carton of Beer up in the previous example. This method can also be used when preparing hampers, gift packs or offering a 'two for one' special. 

Example 3: The Hardware Store (fractional quantities)

As you might have already inferred from the above examples, RetailManager also allows you to sell items in fractional quantities. This option is widely used in the manufacturing industry that buys stock in bulk, then breaks it down and sells it in smaller units of measure.

In this example, a hardware store sells planks of wood by the metre. When purchased, the wood comes in 10 metre planks, which are then cut to size for each customer. This will show you how to sell items in fractional quantities.

 

To sell items in fractional quantities
  1. Create a new item for the plank of wood (go to the Information menu and choose Stock).
  2. Fill in the required information and select the Fractional Quantities option.
  3. Enter the cost price and selling price of 1 metre of wood. In our example, the cost price of a 10 metre plank is $11 and the selling price is $15 so we divide each number by 10 to determine the cost and sell price of 1 metre, e.g. $1.10 cost price and $1.50 sell price.
  4. Click Commit or press F10.
  5. When committing a sale, enter in the quantity of wood that has been cut for the customer. The selling price will be calculated automatically.
  6. Enter the method of payment and Commit the transaction.

Summary

Once the sale has been committed, the quantity of wood in stock will reduce by 4.5 units. The same theory can be applied to a number of different situations.

Any type of item that is bought in bulk, and then sold in smaller units can be set up to enable fractional quantities. Some common examples are dried fruit, nuts, speaker wire, cabling, wool, and so on.

To delete packages and components

In RetailManager v12 and later, the Bulk Delete function can be used to delete packages and their components in a single action. Otherwise you can delete components manually.

Refer to your user guide for more information on deleting stock items.