The Stock -> Items section contains a list of all your stock items – both the parts and the finished products.
The Stock -> Items allows
- creating, editing and deleting items,
- seeing in stock and expected inventory levels of each item,
- seeing reports of each item,
- importing items from a CSV file,
- exporting the stock report to CSV or PDF.
- Tips and tricks.
- Stock FAQ.
- What is a stock article, item, or an SKU?
- How to set up an item?
- How to copy an existing item?
- How to add a manufactured item?
- How to add a procured item?
- How to read the inventory numbers - in stock, available, expected?
- How is the item cost calculated?
- How to check the source of an item's displayed cost?
- How to see the stock financials, stock balance, and movements?
- How to track stock lots (batches) of an item?
- How to track the serial numbers of an item?
- How to import the list of articles into MRPeasy?
- How to enter initial inventory values into MRPeasy?
- Demo Video: How to define parts and products.
- Click Create to add a new item.
- Click Choose columns to choose which columns to display.
- Drag the columns to rearrange them.
- The Stock report can be searched and filtered (see Usage tips for wildcards).
- Click Saved searches to save a search or use a saved search.
- Click Bulk editing to edit selected rows in bulk.
- Click Reports to see the item's reports.
- Some numbers can be clicked on to see more detailed information.
- Items are never fully deleted, deleted items are hidden/archived to conserve your stock history and database consistency. You can find these items by searching the part number. Deleted items can also be restored.
A "stock article" is a synonym for "article", "stock item", or a "Stock Keeping Unit (SKU)".
Items are all different raw materials, parts, ingredients, sub-assemblies, semi-finished goods, and finished goods that you can keep in your stock. Hence the name Stock Keeping Unit - you can keep these in your stock.
Each item has a unique code - the part number - which allows to identify it and keep track of the units of that item. It's the personal codename for it.
Articles can be either purchasable or manufactured:
- Purchasable articles should have Purchase Terms defined - who you buy these from and on what terms.
- Manufactured items should have Bills of Materials and a Routings defined - defining what these are made of and which manufacturing operations need to be done on them.
There's a very detailed overview of how many units of each item are physically in stock, available for use, booked for something, consumed in WIP, and expected to be received in the future. This is indicated by the following columns:
- In stock shows the total physical quantity in stock right now (available + booked).
- Available shows the quantity which is in stock and available.
This quantity is displayed in red when it is below the minimum available inventory level (the reorder point) of the item. Then the item will also be shown in the Critical on-hand report and indicated on the Dashboard by the "Items below reorder point" indicator.
This number can also go negative (I.e. negative inventory) when demand for the item is greater than is available in stock and plenty is not expected to arrive.
- Booked shows the quantity which is in stock and booked, not freely available, plus quantity which is demanded, but the booking is not matched (no items were available for booking).
Clicking the number shows existing bookings.
- Expected, Total shows the total quantity which is planned to be received in the future.
- Expected, Available shows the quantity which is expected and available, not booked yet.
- Expected, Booked shows the quantity which is expected and already booked, not freely available.
- Work in progress shows the quantity which has been consumed in manufacturing orders which are still in progress (finished products have not been added to stock yet).
At the moment when materials are marked as consumed in production, they are moved to Work in Progress (WIP) Inventory. When the Manufacturing Order is finished, the WIP is cleared.
When the Enterprise function Packing is turned ON, a column „Packaged“ can be added to the items list view. This column shows how many items of those in stock are packaged.
The Stock -> Items shows either
- The weighted average cost of the in-stock items.
- Or the estimated cost if the item is not in stock.
Clicking on an item's cost will open a report which will show how it's calculated.
The actual cost is the real cost of a particular physical object in inventory:
- For purchased items, it is the price paid for it, plus any additional fees of the source Purchase Order.
- For manufactured items, it is all the costs that went into manufacturing it, according to the source Manufacturing Order.
The actual cost of a particular item is taken from its stock lot.
The actual cost is used:
- When items have been booked, e.g. materials for a Manufacturing Order or products for a Customer Order.
- When using the "Estimate costs and dates" function in a Customer Order and an item is in stock.
Weighted average cost
The weighted average cost is calculated based on the actual cost of the in-stock items. This is calculated based on the received stock lots of the item.
The weighted average cost is used:
- At Stock -> Items for items that are in stock.
- During BOM cost estimation if a material is in stock.
The cost of an in-stock material is approximated according to the weighted average cost when a BOM's cost is estimated.
The cost of an in-stock material is approximated according to the actual cost of stock lot(s) (according to the required quantity in CO) when estimating costs for a CO.
The cost is estimated for items that are not in stock:
- For purchased items, the cost is the price of the highest priority purchase term. When there are several purchase terms with the same priority, the lowest price is used.
- For manufactured items, the cost of the Bill of Materials and the cost of Routing are estimated.
The estimated cost is used:
- At Stock -> Items for items that are not in stock.
- During Manufacturing Order creation if a material is not in stock.
- During BOM cost estimation if a material is not stock.
- When using the "Estimate costs and dates" function in a Customer Order if an item or a material is not in stock.
Please note that the estimated cost might not be accurate for manufactured items. To get a more accurate estimate, you must start planning a Manufacturing Order with realistic batch quantities.
When estimated cost is not displayed
The cost cannot be estimated in some cases:
- A procured item does not have purchase terms.
- A manufactured item does not have a BOM and a routing.
- The cost of a manufactured item's BOM cannot be estimated. For example, this happens when:
a. a procured item's cost is unknown - it is not in stock and cannot be estimated.
b. a sub-assembly's cost is unknown - it is not in stock and cannot be estimated.
c. an item was deleted, which is used in the BOM.
d. Matrix BOM is used.
When an item or BOM is opened and saved, then MRPeasy tries to estimate its cost. So, you may try opening the item or BOM, which cost is not displayed, and clicking "Save" to make the system re-calculate the cost (assuming all information is now available).
if an item's cost seems wrong, then to understand how it is calculated, and to find where the mistake has been made, do the following.
- In Stock -> Items, click on the Cost number, to see how it's calculated.
- If the item is in stock, verify if the stock lots' costs are correct. If not, update these.
- If the cost is estimated, check the:
- Purchase Terms for procured items,
- Bills of Materials for manufactured items (Open the BOM and then its PDF for the cost breakdown),
- Routings for manufactured items (est. cost may differ from real cost due to the difference in batch sizes and labor rates).
Please note the following:
- If an item's inventory levels have been entered by uploading, or by making a manual stock lot, then the user must supply its cost manually.
- If an item has become into stock by using the Inventory adjustments functionality, then the software uses the last known in-stock cost of the product, not the estimated cost. If the product has never been in stock, and Inventory adjustment has been made, without supplying a cost, then the cost will be 0.
- The actual cost of a product can be calculated by MRPeasy only if it has been produced through a Manufacturing Order.
How are the manufacturing overhead, labor, and materials costs of a product calculated?
How to schedule a Manufacturing Order?