.svg){kind=icon}
What is Stock Replenishment?
Stock replenishment is the process of restocking inventory to ensure that a business maintains an adequate supply of products to meet customer demand. This involves monitoring stock levels, forecasting future inventory needs, and placing orders to replenish items before they run out. Flxpoint facilitate effective stock replenishment, helping businesses avoid stockouts, optimize inventory turnover, and minimize excess inventory costs.
Mastering stock replenishment can be challenging, especially if you’re manually tracking products as they move along the supply chain via spreadsheets—or worse, paper trails!
Thanks to our new stock replenishment functionality, you can place and monitor orders related to stock replenishment without ever leaving the Flxpoint app.
With our new Stocking Manifest operation, Flxpoint can act as your central order management system. We’re calling our latest update “Owned Inventory,” and these new features enable you to place orders within your vendor network for internal warehouse ecommerce stock replenishment inside Flxpoint.
With the ability to view your incoming stock and whether a purchase order has been successfully delivered, you have greater control over your ecommerce supply chain and inventory management efforts.
Keep reading to learn more about Owned Inventory and how Flxpoint makes it easy to view and calculate quantities for products with incoming stock based on active and processing purchase orders between your sources and internal warehouses.
Creating a Stocking Manifest in Flxpoint for Stock Replenishment
Inside Flxpoint, you’ll now find a Stocking Manifest tab within your Orders view that allows you to create two types of purchase orders: Stocking Purchase Orders and Transfer Orders.
Let’s take a look at all of the new Flxpoint data points specific to ecommerce stock replenishment and what they do:
- Stocking Manifest: The operation used to create a Stocking Purchase Order or a Transfer Order
- Stocking Purchase Order (SPO): A specific PO that is sent to an external Source to send more products to your internal warehouse
- Transfer Order (TO): A specific PO that is sent to an internal warehouse to ship more products/stock to another internal warehouse
- Incoming Inventory: The number of products that are being shipped to your internal warehouse to replenish stock
- Destination: The location of your internal warehouse
- Receive/Received: A data point and action button to select when an SPO or TO has been successfully delivered
- Void: A data point and action button to let the Flxpoint system know specific line items on an SPO or TO that do not need to be accounted for in incoming inventory
