An ERP application that is smart to provide you with recommendations and suggestions!!! Well that’s exactly what Sage’s X3 is about. X3 can aid you in suggesting the exact quantity of products that needs to be ordered in case of shortages in Inventory. This is achieved through Statistical Re-Ordering (Navigate through “Inventory-> Reorder->Statistical Re-Ordering” (Process name is FUNSTKB).
The Statisical Re-ordering has two Objectives in X3:
- To create the reorder suggestions for products
- To calculate and update the product-site record data
Note: Statistical reordering only processes products with category A, B or C
In this post, we will provide you a brief description on how to create a re-order suggestion for the products which are short on hand. Again here the re-order suggestion can be created with two following methods: 1) Reorder threshold 2) Periodic reordering
Re-order Threshold: The reorder threshold method is used to create a suggestion for a fixed quantity when the order point is reached.
This method takes into account a certain number of elements:
- The economic quantity: This field is the Minimum Reorder quantity and can be manually populated in the ‘Planning’ tab under ‘reorder’ section in the Product-site screen.
- The replenishment threshold (order point): This is the stock level from which a reordering (or work order) is triggered and can be manually populated in the ‘Planning’ tab under ‘reorder’ section in the Product-site screen.
- The stock available: The available stock corresponds to the physical stock minus the allocated stock (global, detailed, and missing) increased by the stock with status Q.
- The stock on order: The Stock on Order is the order that is currently placed on Purchase Order and has not yet been received.
Note: Make sure that you select the “Re-Order Mode as “By ROP” “in the reorder section under planning tab as displayed in the below screenshot in order to receive suggestions using the reorder threshold method.
We hope this post helped you to get a brief idea on how X3 can provide you suggestions when your Stock level goes below the required quantity. In our next blog we will provide you with insights on the “Periodic replenishment method” for generating Stock related Suggestions. So keep following for more Information. 🙂
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