The Stock -> Items section contains a list of all your stock items – both the parts and the finished products.
The Stock -> Items allows to
- create, edit, and delete (archive) items,
- see in stock and expected inventory levels of each item,
- calculate how many of it could be made (virtual stock),
- access reports of each item,
- import items from a CSV file,
- print item labels.
- Demo video: Inventory management.
- Demo video: Setting up procured items.
- Demo video: Setting up manufactured items.
- Demo video: Setting up inventory levels.
- Setting up new items.
- Stock FAQ.
- Tips and tricks.
- Inventory numbers - in stock, available, expected.
- Calculate virtual stock.
- Print item labels.
- Item cost calculation.
- Stock financials, stock balance, and stock movements.
- Track stock lots (batches).
- Track the serial numbers.
- Import items.
- Enter initial inventory values.
- 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.
At Stock -> Items, 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, expected to be received in the future, etc.
- "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), and they are not part of the inventory anymore. When the Manufacturing Order is finished, the WIP is cleared.
- "Virtual stock" shows the number of products that can be made from the current available inventory of parts.
- "Packaged" shows how many items of those in stock are packaged. Available, when Enterprise function Packing is enabled.
At Stock -> Items, it is possible to calculate how many products can be made from the current available inventory of parts.
To calculate virtual stock:
- Enable column "Virtual stock".
- Find the desired product.
- Click on the button on that item's line to calculate the quantity.
The button is displayed in the "Virtual stock" column for each item, which has a BOM.
The labels for items can be printed by clicking the "Print Label" button on the Stock -> Items page.
The size, information, and layout of the label can be edited with the Label editor.
The standard label contains the unique stock lot barcode if the Barcode System functionality is enabled.
It is also possible to just print the barcode. For printing barcodes only:
- go to Stock -> Items and open the item details page.
- Click the button "Print barcode" in the upper right corner of the page.
(If the product has matrix BOM and parameters, then this button is located in the Variations section.)
Read also: What happens when a barcode is scanned?
The Stock -> Items shows either
- The weighted average actual cost of the in-stock items.
- Or the estimated cost if the item is not in stock.
To check the source of the cost of an item, click on an item's cost.
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 the stock lot(s) (according to the required quantity in CO) when estimating costs for a CO. If more items are required than in-stock or expected, the estimated cost is used for the remainder.
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 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?