Inventory Adjustments
Inventory can be adjusted using the Inventory Add, Subtract and Move buttons on the Product Page.
Adding Inventory for a non-serialized and non-lot tracked Product
- Go to the products tab
- Click new and add the product name
- Mark the product as active and product type to inventory
- Leave Is serialized and Lot controlled checkboxes unchecked
- Click on Inventory Add
- Select the Quantity, Location, Reason Code (Optional) and Notes (Optional)
After the quantity is added to the product, it will create inventory, location inventory and product transactions record to capture the current transaction. If the inventory and location inventory record already exist for that specific location, only the quantity will be updated.
Adding inventory for a serialized Product
- Go to the products tab
- Click new and add the product name
- Mark the product as active, Is serialized checkbox to true and product type to inventory
- Leave Lot controlled checkboxes unchecked
- Click on Inventory Add
- Select the Quantity, Location, Reason Code (Optional) and Notes (Optional)
- Since the product is serialized, you’re prompted to enter a unique serial number for each quantity added, separated by a comma
After the quantity is added, it will create an inventory, location inventory, product transactions as well as the individual Serial Number Trackers records per quantity added.
Adding inventory for a lot tracked Product
- Go to the products tab
- Click new and add the product name
- Mark the product as active and product type to inventory
- Mark the lot controlled checkboxes to True
- Click on Inventory Add
- Select the Quantity, Location, Reason Code (Optional) and Notes (Optional)
- Since it is a lot controlled product, you have the option to select or create the lot where you want to store your inventory
After the quantity is added, it will create a lot, inventory, location inventory, and product transactions records.
Adding Inventory for a unit of measure tracked Product
In Ascent Inventory, we require you to setup a unit of measure record with quantities before a product with UOM can be entered
- Go to all tabs
- Search Unit of Measure Object
- Create New, enter a unit of measure name and quantity corresponding to specific unit of measure
Units of measure for each product will be managed using the product UOM object. This will be a junction between the product and the unit of measure object. Please use the below steps to create a product unit of measure for specific product:
- Go to all tabs
- Select Product UOM object
- Add Product UOM name, Product and Unit of Measure
- Click Save
- Product UOM name will update same as global unit of measure name
- Quantity will update from global unit of measure of the unit of measure lookup
- Go to the products tab
- Click new and add the product name
- Mark the product as active and product type to inventory
- Click Inventory add then add Quantity, Product UOM, To Location and To Lot (if also lot controlled)
These are the four different ways you can track inventory. It is possible to combine them if this fits your business needs. For instance you may want to have a Lot Tracked, Serialized product. In this case you will actually need to enter a Location, Lot, and list of serial numbers to enter a quantity into inventory.
Once you have created inventory in the system, you can see that the quantity for this product is shown in the inventory table as a related list on the product page. Inventory will always be broken out by at least one location. Additionally, Ascent will roll up all of the quantities for inventory records back to the product page in the Quantity on Hand field. This will tell you the total stock across all locations for this product.
Subtracting / Removing / Decreasing / Writing Off Stock
You can also remove stock the same way it is added, but you will use a different button, “Inventory Subtract” at the product level. Some customers may use this as a way to write off bad stock. If you are doing this you will need to create a new reason code on the Product Transaction object to represent write-off option. You might also use this to remove inventory that has gone bad or even gone missing. You could use this tool to deplete inventory for an off platform event or some process in your business that is not yet part of Ascent. For instance if you sell products online and in your store. Maybe you have your website integrated, but your in store sales are not yet integrated into Ascent. If you sell a product in your store, you could simply go to the product record and subtract the inventory the customer bought in store.
Subtract Inventory (non serialized and not lot controlled product)
- Go to the products tab
- Click new and add the product name
- Mark the product as active and product type to inventory
- Leave Is serialized and Lot controlled checkboxes unchecked
- Click on Inventory Subtract
- Select the available inventory, quantity, reason code (Optional) and notes (Optional)
Moving Inventory
It is very common that you will need to move inventory from one location to another. This is a very similar process, except this time you will need a from and to location. The From Location is where the inventory is now, and the To Location is where the inventory will be stored after the movement is created.
Moving a Non Serialized and Non Lot Controlled Product
- Go to the products page
- For product move, click on Inventory Move button
- Select the available inventory (from location)
- Quantity that needs to be moved
- Then select the To Location
- Add optional notes and click Submit
Product Transactions
This will record all the inventory details like where the inventory is added, from where the inventory is removed and to which location inventory is moved.
