Product Master

[519] | Inventory | Maintenance |

Product Master is used for creating and maintaining inventory. These are all goods that are stocked and sold by a company.

Non inventory items may also be recorded in the Inventory for services provided, for example, blood test fees.

Notes :

Only top 500 product records are preloaded on the product master.
Users can search for all products using "Find" on the search panel. Search is based on the following:
1. Description
2. Part No
3. UPC
4. SKU
5. Barcodes
"File" --> "Copy Record" will copy product details.
Product Details will list all the locations at which the item is sold. Set the config "Auto Location insert in Inventory" to "Y" for the system to automatically add all active locations.
UPC and SKU is not validated for duplicates. This means a UPC or SKU code can be the same for multiple products. When searching for a UPC or SKU code that is saved on more than 1 item, the system will prompt message "There are more than one items with code [Barcode]. Please load this item by searching for the item."

Figure 1: Product Master Screen

Table 1 : Field Description for Product Master

Fields

Description

Product Code

Set of alphanumeric values to uniquely identify each product. This is usually the bar code of the product. If an item does not have a bar code, a unique code can be entered.

Product Code should not blanks or single quotes.

Description

Detailed description of the product.

Category

Select the Category of the item. These are setup in the Product Category menu.

Sub Category

Select the Sub Category of the item . These are setup in the Product Category menu.

Supplier

Select the Supplier of the item. Suppliers are maintained on menu 566.

Unit of Measurement (UOM)

Select the UOM used for stocking and selling the item. UOM is setup under Category .

Currency

Currency is the currency in which the item will be sold.

Weight

Enter the weight of the item if applicable.

H/W/L

Enter the height, width and length of the item if applicable.

UPC UPC is the "Universal Barcode" for a product .

SKU Code

SKU Code is the supplier defined barcode for a product.

Price Class

If a price class exists for the item, double click and select appropriate price class. Price Class is set on menu 517.

Cycle Code

Cycle is the frequency of the stock takes.. These are created in the Cycle Code menu.

ABC Code

These are Classification Codes. For example, categories items as A ,B,C where Category A can be classed as fast selling items.

Inv Cost Method

Enter the Inventory Cost Method - select the method you want to use to calculate the value of the item.

·          Average - Average Cost is system control. Average Cost is calculated as:-

(Current Instock x Current Cost) + (New Instock x New Cost)/ (Current Instock + New Instock).

·          Standard - The target cost of production, including material, direct labor and overhead charges. Standard cost is user defined.

·          Last Cost – Last cost which was used to purchase an item. This can be changed by the users.

Status

You can give items a status with the following item types:

·          Purchase - Items that your company purchases from a vendor.

·          Non Quantity Bearing - Traditionally, items that are services, (such as rush-order charges) you want to include on the order. These items cannot be transferred or adjusted, however, they can be purchased, sold, or consumed in production.

·          Kit - Finished products that are made up of one or more finished goods or sub-assemblies. When the KIT Status is selected then the KIT button is functional to allow records to be entered into the KIT items form.

·          Obsolete – Items that are no longer purchased or sold by the business.

Min Profit %

Min Profit % the stores the "Percentage" profit to be obtained on the sale of an item. Users will not be able to sell at a price which is lower than the min profit price.

Minimum Profit Price is calculated :

Cost x (1 + Min Profit %) x (1 + Tax)

Use Location Price

When "Use Location Price" check box is enabled, then the " Product Price " button is disabled and the Price button at the end of each Location line record to be selected in order to allocate prices according to the location hence this price is applied during the sale of the item.

Lot Bin

Allows the selection of the Lot Bin button, if the tag is on, then the Lot Bin button is functional otherwise it is disabled. The Lot Bin criteria is appropriate when items require to be kept according to the bins of a warehouse or store shelves. The items are mainly classified to their expiry dates, serial number etc.

Bulk Item

Selection is applied to products that are sold from the bulk e.g. refill oil selling method and selling large bags of flour, rice, chicken, manure etc. These items are not located on the supermarket shelves in large quantity but are stacked in the bulk area and are given out when the customers show payment slips for the item(s).

If an item is flagged as a bulk flagged item, a picking slip will be printed for these items. For example, in supermarkets, where items are stored in a bulk, picking slips may need to be printed to transfer the items from the bulk to the stores or in a Restaurant any items which need to be cooked in the kitchen and should appear on the chefs screen should be tagged as bulk items.

This field name is configurable in the Configuration Menu.

Allow Discount

Tag this field if you want to allow discount.

Custom Kit

Products can also be setup as Custom Kit Items. Custom kit items automatically increment by 0.5 and 1 and are configurable in the Configuration menu.

Product Price

Click the product price button and enter the sell price for the item. An item can be sold using one of the following pricing structures:

Priority 1 – Price level (different price level can be setup for different customers. This is then assigned to the customer in the Customer Maintenance screen in POS)

Priority 2 – Cost + Markup percentage
Priority 3 – Promotional Price
Priority 4 – Price Break

Kit Items

The Kit Item button is enabled when the 'Kit' option is selected from the drop down list in the Status field.

Detail Section

Location

Enter Locations for each product. You may store the same inventory item in several locations. There is no limit to the number of locations to which you can assign an item. For each location, you can:

Track quantities and costs.
Specify lead times.
Set minimum order amounts.
Set minimum and maximum stock quantities.

Note : The system will insert all the locations (setup in Location Menu) when a new item is created if the Auto Insert Location Flag is set to 'Y' in the Inventory Configuration .

Tax Code

Tax Code used when selling the item.

Bin No

The area in a location where the item is kept.

Min Order

The minimum quantity you can order at any time. This is usually used for Inventory Replenishment.

Min Stk

Lowest quantity of an item you should have in stock at any given time.

Max Stk

Largest quantity of an item you should have in stock at any given time.

Avg Cost

This is the average cost of the item calculated by the system.

New Average Cost = (In stock * Old Average Cost) + (Number of items bought/adjusted In * Unit Cost)

                    (In Stock + Number of items bought/adjusted In)

Last Cost

Last Cost of the item bought. This is calculated by the system however the user can override this value.

Std Cost

The Cost of the item. This is entered by the user.

Available

In stock quantity. This figure is updated by the system using Inventory Adjustment, Stocktake, Receive Purchase, and when an item is sold.

Acct Code

Posting Account used for GL Integration.

Allow Negative

Check box is to schedule the product to be sold even though it does not exist on the shelf.

Kit Items

Product Copy Record Function

Product Master Utilities

This tab consists of five text fields and five numeric fields for additional information on products. These fields are configured in the User Defined Fields menu. Refer to Figure 2.

Figure 2: User Defined Tabs for additional information

Fields	Description
Product Code	Set of alphanumeric values to uniquely identify each product. This is usually the bar code of the product. If an item does not have a bar code, a unique code can be entered. Product Code should not blanks or single quotes.
Description	Detailed description of the product.
Category	Select the Category of the item. These are setup in the Product Category menu.
Sub Category	Select the Sub Category of the item . These are setup in the Product Category menu.
Supplier	Select the Supplier of the item. Suppliers are maintained on menu 566.
Unit of Measurement (UOM)	Select the UOM used for stocking and selling the item. UOM is setup under Category .
Currency	Currency is the currency in which the item will be sold.
Weight	Enter the weight of the item if applicable.
H/W/L	Enter the height, width and length of the item if applicable.
UPC	UPC is the "Universal Barcode" for a product .
SKU Code	SKU Code is the supplier defined barcode for a product.
Price Class	If a price class exists for the item, double click and select appropriate price class. Price Class is set on menu 517.
Cycle Code	Cycle is the frequency of the stock takes.. These are created in the Cycle Code menu.
ABC Code	These are Classification Codes. For example, categories items as A ,B,C where Category A can be classed as fast selling items.
Inv Cost Method	Enter the Inventory Cost Method - select the method you want to use to calculate the value of the item. · Average - Average Cost is system control. Average Cost is calculated as:- (Current Instock x Current Cost) + (New Instock x New Cost)/ (Current Instock + New Instock). · Standard - The target cost of production, including material, direct labor and overhead charges. Standard cost is user defined. · Last Cost – Last cost which was used to purchase an item. This can be changed by the users.
Status	You can give items a status with the following item types: · Purchase - Items that your company purchases from a vendor. · Non Quantity Bearing - Traditionally, items that are services, (such as rush-order charges) you want to include on the order. These items cannot be transferred or adjusted, however, they can be purchased, sold, or consumed in production. · Kit - Finished products that are made up of one or more finished goods or sub-assemblies. When the KIT Status is selected then the KIT button is functional to allow records to be entered into the KIT items form. · Obsolete – Items that are no longer purchased or sold by the business.
Min Profit %	Min Profit % the stores the "Percentage" profit to be obtained on the sale of an item. Users will not be able to sell at a price which is lower than the min profit price. Minimum Profit Price is calculated : Cost x (1 + Min Profit %) x (1 + Tax)
Use Location Price	When "Use Location Price" check box is enabled, then the " Product Price " button is disabled and the Price button at the end of each Location line record to be selected in order to allocate prices according to the location hence this price is applied during the sale of the item.
Lot Bin	Allows the selection of the Lot Bin button, if the tag is on, then the Lot Bin button is functional otherwise it is disabled. The Lot Bin criteria is appropriate when items require to be kept according to the bins of a warehouse or store shelves. The items are mainly classified to their expiry dates, serial number etc.
Bulk Item	Selection is applied to products that are sold from the bulk e.g. refill oil selling method and selling large bags of flour, rice, chicken, manure etc. These items are not located on the supermarket shelves in large quantity but are stacked in the bulk area and are given out when the customers show payment slips for the item(s). If an item is flagged as a bulk flagged item, a picking slip will be printed for these items. For example, in supermarkets, where items are stored in a bulk, picking slips may need to be printed to transfer the items from the bulk to the stores or in a Restaurant any items which need to be cooked in the kitchen and should appear on the chefs screen should be tagged as bulk items. This field name is configurable in the Configuration Menu.
Allow Discount	Tag this field if you want to allow discount.
Custom Kit	Products can also be setup as Custom Kit Items. Custom kit items automatically increment by 0.5 and 1 and are configurable in the Configuration menu.
Product Price	Click the product price button and enter the sell price for the item. An item can be sold using one of the following pricing structures: Priority 1 – Price level (different price level can be setup for different customers. This is then assigned to the customer in the Customer Maintenance screen in POS) Priority 2 – Cost + Markup percentage Priority 3 – Promotional Price Priority 4 – Price Break
Kit Items	The Kit Item button is enabled when the 'Kit' option is selected from the drop down list in the Status field.
	Detail Section
Location	Enter Locations for each product. You may store the same inventory item in several locations. There is no limit to the number of locations to which you can assign an item. For each location, you can: Track quantities and costs. Specify lead times. Set minimum order amounts. Set minimum and maximum stock quantities. Note : The system will insert all the locations (setup in Location Menu) when a new item is created if the Auto Insert Location Flag is set to 'Y' in the Inventory Configuration .
Tax Code	Tax Code used when selling the item.
Bin No	The area in a location where the item is kept.
Min Order	The minimum quantity you can order at any time. This is usually used for Inventory Replenishment.
Min Stk	Lowest quantity of an item you should have in stock at any given time.
Max Stk	Largest quantity of an item you should have in stock at any given time.
Avg Cost	This is the average cost of the item calculated by the system. New Average Cost = (In stock * Old Average Cost) + (Number of items bought/adjusted In * Unit Cost) (In Stock + Number of items bought/adjusted In)
Last Cost	Last Cost of the item bought. This is calculated by the system however the user can override this value.
Std Cost	The Cost of the item. This is entered by the user.
Available	In stock quantity. This figure is updated by the system using Inventory Adjustment, Stocktake, Receive Purchase, and when an item is sold.
Acct Code	Posting Account used for GL Integration.
Allow Negative	Check box is to schedule the product to be sold even though it does not exist on the shelf.