Please familiarize yourself with the following Finale Inventory concepts, transactions, and terms below. These will help you understand the included definitions of different stock levels and calculations that Finale Inventory has for you to see about your inventory on the screens, views, reports, documents, and labels. Finale Inventory has over 60 different stock levels you can reference.
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Facility Concepts |
Explanation |
|---|---|
| Location | The Warehouse. Finale tracks stock quantities in two levels of hierarchy. Location is the higher level, usually corresponding to a facility with a physical address. |
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Sublocation |
The area within the warehouse where the stock of an item(Product id) is stored. Sublocations are the lower level of the stock keeping hierarchy, e.g. a bay, a room, a section, or any storage area within a location. By convention, sublocations names are uppercase and short (e.g., M0, M1). All Locations(Warehouses) must have a minimum of one Sublocation to store stock within the location. |
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Transactions |
Finale Inventory uses transactions to increase or decrease or move stock levels of items within the inventory system |
| Purchase Order | An Order from your company to your supplier for buying inventory items to bring into your warehouse. When you receive a shipment against a PO it will increase stock levels |
| Sales Order | An Order from your customer to your company for items you sell. When you ship a shipment to fulfill the order it will reduce your stock levels |
| Shipments | A supplemental transaction to POs, SOs, and Transfer Orders that cause the inventory stock level to increase or decrease |
| Stock Take | A reset of your stock level as a result of a physical stock count or audit. |
| Stock Change | To ADD or REMOVE stock item quantity to your inventory without using a PO or SO |
| Transfer | To move stock items from one sublocation to another |
| Builds | A light manufacturing order to control what you want finished good item, kit, or bundle you would like to build from a Bill of Materials that contains items to be consumed from inventory. |
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Terms |
Definitions |
|---|---|
|
Product ID |
The Primary Key in Finale Inventory for an Inventory Item. |
| SKU | The item identifier on your marketplace or shopping cart or e-commerce order. |
| Product lookup | An alias to the Product id. This is used to map marketplace(e-commerce) SKUs to Finale Inventory Product ids when they are different. For example, if your Amazon SKU is ABC-01 and your Finale Inventory Product id is 1001, you would have a Product Lookup of "ABC-01" that points to Product Id "1001". Product Lookups may also be a Scan-keys or barcode value for your inventory items as well as a Homogeneous Kit SKU to handle multipacks of the same item without creating another inventory product id. The Product lookup entry is also used for stock level pushback to the marketplaces by designating which Store "Integration name" Finale Inventory should use push back the stock level to the marketplace SKU. Click here for more information on Product lookups. |
| Scan-key | An barcode value that points to a Product ID, or unique stock item such as a product id + Lot ID combination. A UPC would be an example of a non-unique scan-key. |
| Units | The base elemental quantity of stock made up of open stock and open stock equivalents of case stock qty |
| Qoh | Physical stock quantity on hand. |
| BOM | Abbreviation for Bill of Material. |
| Eaches | Another term for units or open stock. |
| Cases | A single box or carton that contains one or more units of the same stock item inside of it. |
| Case equivalents | The conversion of open stock or eaches(units) into a Case or box of stock items in a Std Packing count. |
| Break a case | To convert a case stock item to the equivalent number of open stock item per the std packing of the case item. |
| Homogeneous Kit | A kit or multipack made up of two or more of the exact same item. This type of kit may be created with a Product id and a BOM or it may be created without a Product id using only a Product lookup and Packing value. A Homogeneous Kit created from only a lookup must map to another product id. |
| Build to order units | A Kit or Bundle or Finished good item that has a BOM that is manufactured or built after you receive an order for it. The Kit or Bundle item exists only after you build it specifically for an order. |
| Just in time kits | A kit or Bundle that is not pre-assembled or built that has it's BOM items picked at the time of order fulfillment. The Kit or Bundle item does not exist as an inventory item. |
| Kit or Bundle | A product you sell made up of two or more stock items. These have a Bill of Material(BOM) and are normally marketed or listed SKUs on your website or shopping cart(e-commerce). They are used to promote deals or higher sales but are normally not physical or real products pre-assembled or bundled together as one unit on a shelf or bin in your inventory. They are most often made up of other stock items(SKUs) that you list or sell individually and are often assembled or put together at the time of order fulfillment by the packers. |
| Finished Good | An item that you build, make or manufacture from a bill of materials or components of other items or raw materials. |
| Non-sellable in your control | Stock that is part of an existing process or transaction that is committed to Finished good(Build), in the process of being moved between warehouses, or already sold and packed in a shipment that has not left your warehouse. Includes In transit, WIP, and Packed units. |
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Shippable inventory |
Stock that is physically on hand that is not On order, In transit, or WIP. |
| Sellable inventory | Stock that is not reserved that is not In transit, WIP, or Packed. |
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Stock Level Definitions |
What do the different stock levels in Finale Inventory mean and how are they calculated. |
|---|---|
| Sales Velocity | The average number of units per day you sell of an item. This is calculated by the number of days of sales history to review / the total sold units in a review period. |
| Stockout | How long your Remaining inventory stock level quantity will last in days based on the Sales Velocity of the item. |
| Stockout QoH | How long your Quantity On Hand inventory stock level quantity will last in days based on the Sales Velocity of the item. |
| Stockout Available | How long your Available inventory stock level quantity will last in days based on the Sales Velocity of the item. |
| Open Stock | Considered to be units or each stock. No cases or packing. |
| Case Stock | Considered to be case stock. Boxes with a packing of units or eaches inside of them. |
| Std Packing | The default number of "packed" units or eaches of an item inside of a case. |
| Units in stock | Total units in stock derived from QoH from both Open Stock and Case stock combined. |
| Units in transit | Total units in transit between location/sublocations as a result of a Transfer Order transaction that has been Shipped from the originating location but not yet received at the destination location. They are in your control and not sellable. |
| Units packed | Total units in a Packed Shipment against a sales order. They are not shipped out of the inventory system. They are not QoH, Reserved, Available, On Order, or Remaining. They are in your control and sold. |
| Units WIP | Total units that are in the process of being consumed. They are component items in of Bill of materials that are a part of a Build transaction that has been started but not yet completed. They are not QoH, Reserved, Available, On Order, or Remaining. They are in your control but not sellable. |
| Units Total | Total physical quantity on hand units plus all non-sellable units in your control such as Units in transit, Units packed, and Units WIP. Does not include On order units. |
| BOM Units |
The number of Kits/Bundles that could be made/sold/built from the BOM Items of a Finished good product id or Kit or Bundle Product Id. Click here for more details |
| Supplier X(1,2,3,..10) quantity available |
A quantity of inventory that you have access to from your supplier. Finale supports up to 10 associated suppliers to a product id. The Supplier X quantity available is an amount of inventory your supplier allows you to have at any time and can be added(included) to the stock levels in Finale Inventory to virtually increase your stock levels. This Supplier available quantity is useful if you drop ship items and do not maintain stock levels on some items in Finale Inventory but you would like Finale to push available quantity stock levels to your e-commerce websites. |
| Available units |
Calculated: QoH - Reservations + On order units All units available to promise to a potential sale. May contain units not shippable now because they are On Order and have not been received yet. *Note: The stock level Available is NOT incremented when the PO is created. It is only increased when the PO is COMMITTED. When a Purchase order is created and marked COMMITTED, it will increase Available and On Order Qty. POs in Committed status will not affect Remaining Units or QoH Units until the PO has received shipments against it. IF you do not want to see the Available qty increased on the stock view screen, you can create the PO and Leave it in the EDITABLE State. It is the best picture of stock level Qty IF ALL units order ALL came in. This is really Available to promise. Sales People should not look at this column. They should look at Remaining Units. |
| Available case equivalents | Available case stock quantity calculated by converted to cases from Available units divided by case stock packing units |
| Available + supplier case equivalents | Available case equivalents + Supplier quantity converted to case equivalents |
| Available + supplier units | Available units + Supplier quantity units |
| Available + BOM case equivalents | Available case equivalents + BOM case equivalents |
| Available + BOM + supplier case equivalents | Available case equivalents + BOM case equivalents + Supplier quantity case equivalents |
| Available + BOM + supplier units | Available units + BOM units + Supplier quantity units |
| Available + BOM units | Available units + BOM units |
| On order units | Quantity on committed Purchase orders to suppliers. *Note: POs in editable status do not increase On Order qty or Available Qty. |
| On order case equivalents | On order case stock quantity calculated by converted to cases from On order units divided by case stock packing units |
| On order + supplier case equivalents | On Order case equivalents + Supplier quantity converted to case equivalents |
| On order + supplier units | On Order units + Supplier quantity units |
| QoH units |
QoH is the true physical stock level of an item in your warehouse or storage sublocation. *Note: The QoH does not increase until the items are received on a shipment against the PO. Marking a PO Completed status does not increase stock levels, only a received shipment increases QoH. When a Sales order is Packed by the scanner(or web browser manually in Finale), the items will be removed from QoH or if the order is SHIPPED. QoH will be increased if you use a stock change ADD feature/function. |
| QoH + BOM units | QoH units + BOM units |
| QoH case equivalents | QoH case stock quantity calculated by converted to cases from QoH units divided by case stock packing units |
| QoH + supplier case equivalents | QoH case equivalents + Supplier quantity converted to case equivalents |
| QoH + supplier units | QoH units + Supplier quantity units |
| QoH + BOM case equivalents | QoH case equivalents + BOM quantity case equivalents |
| QoH + BOM + supplier case equivalents | QoH case equivalents + BOM quantity case equivalents + Supplier quantity converted to case equivalents |
| QoH + BOM + supplier units | QoH units + BOM units + Supplier quantity units |
| Remaining units |
Calculated: QoH - Reservations This is the true remaining units available to sell right now. This column can be added to your stock view screen. Actions menu, customize this screen. |
| Remaining case equivalents | Remaining case stock quantity calculated by converted to cases from Remaining units divided by case stock packing units |
| Remaining + supplier case equivalents | Remaining case equivalents + Supplier quantity converted to case equivalents |
| Remaining + supplier units | Remaining units + Supplier quantity units |
| Remaining + BOM case equivalents | Remaining case equivalents + BOM quantity converted to case equivalents |
| Remaining + BOM + supplier case equivalents | Remaining case equivalents + BOM quantity case equivalents + Supplier quantity converted to case equivalents |
| Remaining + BOM + supplier units | Remaining units + BOM units + Supplier quantity units |
| Remaining + BOM units |
Calculation: QoH - Reservations + BOM Units(the number of Kits/Bundles) that could be made/sold/built from the BOM Items)
*Note: This column can be added to your stock view screen. Actions menu, customize this screen. |
| Reservations units | Quantity reserved by committed orders(orders imported from Shipstation or manual orders created in Finale Inventory)
Units are reserved at the Location(warehouse) level and not at the sublocation level. *Note: Orders with an Editable Status do not reserve inventory unless they have individual line item reservations using the line item reserved feature. |
| Reservations case equivalents | Reservation case stock quantity calculated by converted to cases from Reservation units divided by case stock packing units |
| Reservations + supplier case equivalents | Reservation case equivalents + Supplier quantity converted to case equivalents |
| Reservations + supplier units | Reservation units + Supplier quantity units |
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