Stock&Buy is an integrated system composed of various interconnected sub-systems which work together to accurately and efficiently manage your orders and inventory.
The orders management sub-system is tightly connected to the inventory sub-system. Each order flowing through the system has a direct impact on the inventory levels and value.
A purchase order (PO) is a commercial document issued by a buyer to a seller, indicating products or services to be purchased, quantities, and agreed prices. A PO document is used to control the purchasing of products and services from external suppliers and acts as a purchase agreement between the buyer and seller.
There are 4 steps a purchase order goes through in Stock&Buy:
This is the very first stage each PO goes through. New POs are also created in this state. Orders in quote state have no impact on inventory levels and are meant to be draft orders until they are approved by the inventory manager.
When a PO gets approved, the line items and the orders quantities are locked and can no longer be modified (unless the order is voided). The received quantities fields will be enabled when a PO is set to this state.
A PO goes into this state when you start receiving the ordered goods. This state allows the reception of a given PO in batches. Stock levels are automatically updated for received goods (stock level changes also propagate to all connected sales channels such as Shopify)
The PO is set to this state as soon as all the items in the order are received. Inventory levels of all ordered items are updated in this phase. Each ordered item’s moving average cost (MAC) is also updated at this stage accounting for all recorded landed costs.