How it Works:
Owned Inventory
Through our stock replenishment functionalities, you have greater control over your ecommerce supply chain and inventory management efforts.
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 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 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
Flxpoint Owned Inventory Requirements
To manage owned inventory in Flxpoint:
1. You must have an integrated source with a source type of “Internal Warehouse”
2. If you save an address for this source, the address will pre-populate when you create a stocking manifest
3. The products you select to restock in your internal warehouse must be linked to the source you’re replenishing from
4. In the Orders tab, click on Stocking Manifest to create your Stocking Purchase Order or your Transfer Order
5. The source that you are sending the order to must have a Send PO integration set up in the Sources section
6. Once the order has been successfully delivered to your Internal Warehouse, head to the Stocking Manifest section to indicate that this order/stock has been received
Start Managing Owned Inventory in Flxpoint
Using Flxpoint’s stocking manifest operation, you can take and maintain control of your ecommerce stock replenishment. With greater transparency into product availability, transfers, order status, and more, you have a complete view of your inventory across all channels.
Owned inventory functionality is only available to Flxpoint users on the Pro Plan or higher. To learn more about these features, talk with an expert today.