Introduction

In today’s fast-paced business environment, automation is key to improving efficiency, reducing errors, and ensuring timely order fulfillment. iVendNext offers a powerful feature called Auto Reserve Stock on Purchase, which automates the process of reserving stock when a purchase order is received. This guide will walk you through the steps to enable and use this feature, helping you streamline your inventory management and ensure that stock is always available for your sales orders.

You must ensure that your stock balance is positive before you enable the “Stock Reservation” feature.

1. What is Auto Reserve Stock on Purchase?

Auto Reserve Stock on Purchase is a feature in iVendNext that automatically reserves stock for sales orders when a purchase order is received. This ensures that the stock is allocated to the sales order as soon as it arrives in the warehouse, reducing the risk of overselling and improving order fulfillment times.

Why is Auto Reserve Stock Important?

• Efficiency: Automating the stock reservation process saves time and reduces the need for manual intervention.

• Accuracy: By automatically reserving stock, you reduce the risk of errors that can occur with manual reservation.

• Improved Customer Satisfaction: Ensuring that stock is reserved for sales orders as soon as it arrives helps in meeting delivery deadlines and improving customer satisfaction.

• Better Inventory Management: Auto Reserve Stock helps in maintaining accurate inventory levels, reducing the risk of stockouts and overstocking.

2. Enabling Auto Reserve Stock on Purchase

Before you can use the Auto Reserve Stock feature, you need to enable it in iVendNext. Here’s how:

Step 1: Navigate to Stock Settings

• Log in to your iVendNext account and go to the Stock Settings section. This is where you can configure various inventory-related features.

Step 2: Enable Auto Reserve Stock

• Look for the Auto Reserve Stock for Sales Order on Purchase option and enable it.

• Ensure that your stock balance is positive before enabling this feature, as stock reservation cannot be enabled if there is a negative stock balance.

You must ensure that your stock balance is positive before you enable the “Stock Reservation” feature.

When you enable the “Stock Reservation” feature additional settings pertaining to stock reservation are unlocked.

3. Using Auto Reserve Stock on Purchase

Once the Auto Reserve Stock feature is enabled, the process of reserving stock becomes automated. Here’s how it works:

Step 1: Create a Sales Order

• Start by creating a Sales Order in iVendNext. This document represents a customer’s request for products.

• Add the items and quantities that the customer has ordered.

Step 2: Create a Material Receipt

• Once the Sales Order is submitted, create a Material Receipt for the items in the Sales Order. This document represents the receipt of goods into your warehouse.

Step 3: Create a Purchase Order

• Generate a Purchase Order from the Material Receipt. This document represents the order placed with your supplier to fulfill the Sales Order.

Step 4: Submit the Purchase Receipt

• When the goods arrive, create a Purchase Receipt for the Purchase Order.

• Upon submission of the Purchase Receipt, the system will automatically reserve the stock for the Sales Order.

4. Benefits of Auto Reserve Stock on Purchase

Automating the stock reservation process offers several benefits for your business:

• Time Savings: Automating the reservation process eliminates the need for manual intervention, saving time for your staff.

• Reduced Errors: By automating the process, you reduce the risk of errors that can occur with manual stock reservation.

• Improved Order Fulfillment: Automatically reserving stock ensures that orders are fulfilled faster, leading to improved customer satisfaction.

• Better Inventory Control: Auto Reserve Stock helps in maintaining accurate inventory levels, reducing the risk of stockouts and overstocking.

5. Best Practices for Using Auto Reserve Stock

To make the most of the Auto Reserve Stock feature, consider the following best practices:

• Regularly Monitor Stock Levels: Keep an eye on your inventory levels to ensure that you have enough stock to meet demand.

• Enable Auto Reserve Stock for All Sales Orders: Ensure that the Auto Reserve Stock feature is enabled for all relevant sales orders to streamline the reservation process.

• Train Your Team: Ensure that your staff understands how the Auto Reserve Stock feature works and how to use it effectively.

• Review Reserved Stock Periodically: Regularly check your reserved stock to ensure that it is still needed. Unreserve stock that is no longer required to free up inventory.

6. Troubleshooting Common Issues

Even with automation, you may encounter some common issues when using the Auto Reserve Stock feature. Here’s how to address them:

Issue 1: Stock Not Reserved Automatically

• Solution: Ensure that the Auto Reserve Stock for Sales Order on Purchase feature is enabled in Stock Settings. Also, check that the stock balance is positive.

Issue 2: Incorrect Quantities Reserved

• Solution: Double-check the quantities in the Sales Order and Purchase Order to ensure they match. If there is a discrepancy, update the orders accordingly.

Issue 3: Delayed Purchase Receipts

• Solution: Ensure that Purchase Receipts are submitted promptly when goods arrive. Delays in submitting Purchase Receipts can lead to delays in stock reservation.

7. Conclusion

The Auto Reserve Stock on Purchase feature in iVendNext is a powerful tool that can significantly improve your inventory management and order fulfillment processes. By automating the stock reservation process, you can save time, reduce errors, and ensure that your customers receive their orders on time. Whether you’re a first-time user or looking to optimize your existing processes, iVendNext provides the tools you need to manage your inventory effectively and efficiently.

By following the steps and best practices outlined in this guide, you’ll be well on your way to mastering the Auto Reserve Stock feature and enhancing your overall inventory management strategy.