To track inventory of an item, as a first step, you need to set the item up in the product master. Click here to refer video
To add a new product to product master, Go To Products > New
Important fields while creating a product:
Product Type: You have 4 options in product type:
1. Inventory
2. Non-Inventory
3. Kit
4. Service
For every item for which you wish to track inventory, all such products will go as Inventory.
Items which needs to be in the system for creating purchase orders, sales orders etc but you don't care about its inventory, 'Non-Inventory' is the option to go with.
If its a service like transportation or duties, you know that you have to add it under 'Service'.
'Kit' is interesting. Kit is never inventoried by itself but it consists of one or more inventory items. Once you define an item as a 'Kit', you also have to define the components of the kit in the Bill of Material option in the related section of the product. You can read more on 'Bill of Materials' here.
Product Family: Categorising your products in to different buckets helps you understand them better. Product family is a way to categorise the products.
For example in a food trading business, you might have 'Food' as one product family, 'Beverages' as another product family.
Come up with right categorisation for your products based on what makes most sense for your business.
To create a new product family Go To Setup > Object Manager > Product > Fields & Relationships > Product Family > in Product Family Picklist Values click New > add the category names in the box > Save. Click here to refer video
Product Sub-Type: Product sub types are a further layer of categorisation. You can use them for secondary level of classification.
To create a new product sub-type Go To Setup > Object Manager > Product > Fields & Relationships > Product Sub-Type > Product Sub-Type Picklist Values click New > add the sub-types in the box > Save. Click here to refer video
Lot/Serial Tracking: This has two options:
1. TrackLotNo
2. TrackSerialNo
If your products have to be lot tracked, choose 'TrackLotNo'. If you have chosen lot tracking, system requires you to add lot no, best before date (and any other custom information that you might need ) to be given mandatorily while receiving the items.
While picking the lot tracked items, system will automatically suggest you the lot number with least number of best before days to be picked first.
Lot tracking enables the end to end supply chain visibility and complete product traceability and is extensively used in food and pharmaceutical industries.
Enable serial tracking if your items come with a serial number. For serial enabled products, system will require serial numbers to be added or uploaded from excel for every quantity that you are receiving. Serial number needs to be scanned are uploaded for outbound transactions too.
If the item needs neither lot tracking , nor serial tracking, leave this field blank.
Quantity Unit of Measure: Unit of measure of the product like KG, Litre, Gram, Quintal etc. This will be primary unit of measure in which inventory records will be maintained for the product.
To add a new unit of measure Go To Setup > Object Manager > Product > Fields & Relationships > Quantity Unit of Measure >In Quantity Unit of Measure Picklist Values click New > add unit of measure in the box > Save. Click here to refer video
You can add product description and product image in the Description section.
You can also add supplier and purchase price information in the Supplier Information section
Inventory & Cost Information section can be left blank as it is auto populated as you record the transactions for the product.
How do I see entire history of all transactions happened in relation to a product?
By clicking on 'Check Inventory' button available on top of the product page, you can see every transaction that has happened involving the concerned product and its impact on product inventory. You can filter the transactions by date or warehouse.
How do I adjust the inventory of item?
By opening the product master, you can find 'Adjust Inventory' button on top of the product page. Here you can adjust the inventory and you can also choose reason for the adjustment.
To add a new reason code Go To SetUp > Object Manager > CycleCountLine > Fields & Relationships > Reason > in Reason Picklist Values click New > add the reasons in the box > Save. Click here to refer video