You can use product ranking information in several areas of your business:
The more times you pick a product, the more accessible it has to be. Therefore, high selling items have a higher ranking. You can set up your inventory location by Rank ID. higher selling items would need a more convenient and accessible storage location.
The more you sell a product, the more important it is that you never run out of it.
The product ranking information on the Suggested P/O Report helps you decide which products to order, transfer, or procure.
The report displays the following:
The most recent ranks calculated for the first two ranking methods for a product in the buying branch on the report.
The most recent ranks calculated for all five ranking methods for a needed product when it is in surplus at another branch.
If two branches have a surplus of this product, transfer the product from the branch for which this product has the lowest rank.
Use product ranking information with the product velocity pricing function in Sell Matrix Maintenance. This function lets you fine tune the pricing of the products in a matrix cell with respect to the ranking of those products.
Use the product velocity function to be competitive when needed and to try to make more money on the items that do not have to be competitive. Assign an additional price break to faster moving items and progressively raise the price for slower moving items, according to their rank.
In addition, assign the following control maintenance records as required:
Default Rank For Velocity Pricing – Enter the rank the system should use if the product does not have a rank established for the pricing branch of an order. For more information on velocity pricing, see Assigning Rank in Product Velocity Pricing.
Central Warehouse Branch Rank If No Pricing Branch – Enter one of the following to determine whether to use the branch rank of your central warehouse if you do not have a pricing rank set:
Y – The system uses the branch rank settings as established for your central warehouse. If you use velocity pricing, we recommend that you set this control maintenance record to Y.
N – The system does not use the branch rank settings as established for your central warehouse. Instead the system uses the rank settings as established for each branch. If your pricing branch is the same as your central warehouse, then the system uses the branch rank settings as established for your central warehouse.
For RF Receiving and PutAway, you can display product ranks on the RF screen to provide guidance when changing locations for items being put away. Move products with a high ranking closer to the shipping area. For more information, see RF Overview.
Manage your inventory in conjunction with Purchasing.
The Inventory GMROI Report displays the first three product rankings, based on the selected product ranking categories, for the product for each branch. For more information, see GMROI Overview.
When doing a cycle count, you can limit the count to items with certain product ranks. For more information, see Counting Inventory Overview.
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