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 and the Suggested P/O Detail Queue helps you decide which products to order, transfer, or procure.
The report and the queue display:
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 the Transfer Surplus Queue to convert the suggestion to transfer purchase orders.
Use product ranking information with the product velocity pricing function in Assigning Rank in Product Velocity Pricing. 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.
For RF Receiving and
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.
When doing a cycle count, you can limit the count to items with certain product ranks. For more information, see Counting Inventory Overview.
See Also: