Purpose
On the Inventory Products List page, the New Inventory Product feature allows users to create a new inventory product with ease.
What can you do with it?
The goal of the New Inventory Product tool is to streamline the process of adding new products into your inventory system, ensuring readiness for operations. This feature allows users to define and customize the key details of each new inventory product, making inventory management efficient and accurate.
How is it done?
To create a new inventory product, follow these steps:
Basic Information:
Enter the Name and Product Code. This code will prefix all generated inventory lots/items.
Vendor Details:
Select the relevant Vendors using the data multi-select option to associate them with the product.
Units and Measurement:
Choose if you would like to Use SI units? by checking the box, which updates the form with standard units.
Specify the Measure Type by selecting Mass or Volume.
Pick the relevant unit(s) such as mg, g, kg, ml, l, or gallons for the Select SI Units field.
Determine a Display Unit to represent the default scientific unit.
If not using SI units, define the Base Inventory Unit.
Categorization:
Assign the product to Inventory Categories using the data multi-select option.
Link Associated SKUs to the product appropriately.
Special Conditions:
For products requiring inventory SKU, check the Require SKU box. This ensures every new lot includes a SKU.
To restrict inventory creation and allow only product destruction, enable Non-Inventory Destruction.
Use Require Batch to ensure inventory from this product is part of a specific batch.
Important Considerations
Ensure Product Codes are unique to avoid duplications and confusion in inventory tracking.
Choosing the correct measurement units is essential for maintaining consistency across the inventory system.
Proper categorization and SKU association help in downstream logistics and sales operations.
Best Practices
Regularly review and update vendor and SKU associations to reflect changes in supply chain or product lines.
Utilize the Non-Inventory Destruction option prudently, ensuring it aligns with product lifecycle management strategies.
Adopt a consistent naming convention for product codes to further enhance inventory predictability and traceability.