Running out of a stock is a sure way to hinder your growth. You can prevent costly stock outs by setting reordering thresholds for each product. When an item goes below the threshold, Finale can auto-populate a reorder purchase for you to send to your supplier and/or send you a notification of products below your reorder point.
Finale has two options for reorder points. You can set a standard reorder point that will apply the threshold to every location, or you can set the reorder point per location. How do I set reorder points per location for my products?
In your product's detail page, scroll to the group named "Reordering" Here, you will have the option to set a few parameters for the reorder function.
- Std reorder point: This is the minimum threshold that you want to keep in stock. If you set this to 10, and your stock level drops to 9, Finale will populate 1 to reorder.
- Std reorder point max (optional): This is where you would tell Finale what quantity you want to reorder up to. If your standard reorder point is 10, your reorder point max is 20, and your stock level drops to 9, Finale will populate 11 to reorder. It will bring your stock level UP TO 20.
- Std reorder in qty of (optional): This is where you would tell Finale reorder sizes. If your supplier only sells an item in multiples of 10, you would input 10 here. Using our previous example where Finale populates 11, Finale would recognize it has to be in multiples of 10 and would instead suggest 20 to order.
- Reorder calculation method (optional): This can be set for all products in your application settings. By default, it is set to reorder min/max. This default can be overridden at a product level using this drop down option. If your account is default at reorder min/max, you can select individual products to calculate reorder using Sales Velocity instead. How do I set reorder points based on Sales Velocity?
Once your reorder points are configured, you can quickly create a reorder purchase or you can configure Finale to Email Notifications that alert you when you need to reorder additional inventory.
Learn how Pat Bianchi, COO of a medium-sized multichannel retailing company, was able to shave his reorder process from hours to literally seconds using the reorder function.
Here is a general overview of Finale reordering.
Here is a helpful step by step walk through to configure Finale reordering.
Article is closed for comments.