Inventory Management: Knowing What You Have#
Inventory is money sitting on shelves. Too much = cash tied up, risk of obsolescence. Too little = lost sales, unhappy customers. Good inventory management is the difference between profitable operations and cash flow problems.
OpsUI Inventory Management at a glance: - Price: $99/month - User tier: Included (1-5 users) or add tier - Integrations: Shopify, WooCommerce, Xero, MYOB - Dependencies: None (foundational module)
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Core Capabilities#
Stock Tracking#
Real-time visibility: - Quantity on hand - Quantity allocated (to orders) - Quantity available - Quantity on order (from suppliers)
Location tracking: - Multi-warehouse support - Zone/bin tracking - Location history - Transfer between locations
Product Management#
Product attributes: - SKU (stock keeping unit) - Description - Category and subcategory - Unit of measure - Weight and dimensions - Barcode/EAN
Product variations: - Size, colour, style - Matrix products - Variation pricing
Stock Valuation#
Methods supported: - FIFO (first in, first out) - Average cost - Standard cost
Valuation reporting: - Stock value by location - Stock value by category - Stock value trends - Margins by product
Reorder Management#
Reorder points: - Minimum stock level - Reorder quantity - Lead time tracking - Safety stock calculations
Purchase integration: - Suggested purchase orders - Supplier link - Order tracking
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Stock Movements#
Inbound#
Receipt types: - Purchase order receipt - Transfer receipt - Return receipt - Adjustment in
Receipt process: 1. Receive against PO 2. Verify quantity 3. Quality check (if QC module) 4. Putaway location assignment 5. Stock updated
Outbound#
Issue types: - Sales order allocation - Transfer issue - Production issue - Adjustment out - Write-off
Transfers#
Location transfers: - Create transfer order - Pick at source - Ship - Receive at destination - Stock updated at both locations
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Stock Takes#
Cycle Counting#
Requires: Cycle Counting module ($89/month)
Features: - Scheduled counts - ABC-based counting frequency - Variance tracking - Approval workflow
Full Stock Take#
Process: 1. Freeze stock movements 2. Count all locations 3. Enter counts 4. Review variances 5. Approve adjustments 6. Update stock
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Integration Points#
Upstream: Sales#
Order Management: - Availability check - Stock allocation - Backorder creation
E-commerce: - Real-time stock sync to Shopify/WooCommerce - Low stock alerts - Out of stock prevention
Downstream: Warehouse#
Receiving/Inbound: Stock receipts, putaway
Shipping/Outbound: Stock issues, picks
Cycle Counting: Count scheduling, variance posting
Financial#
Xero/MYOB: Stock value journals
Native Finance: Direct integration
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Reporting#
Standard Reports#
- Stock on hand by location
- Stock movement history
- Stock valuation
- Slow-moving stock
- Stock turns by category
- Stock availability
Dashboards#
- Stock value
- Low stock items
- Out of stock items
- Stock by category
- Movement trends
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Pricing#
Module cost: $99/month
User pricing: - 1-5 users: $0 (included) - 6-15 users: +$149/month - 16-50 users: +$299/month - 51-100 users: +$499/month - Unlimited: +$799/month
Typical 10-user setup: - Inventory Management: $99 - User tier (6-15): $149 - Total: $248/month
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When to Use This Module#
Essential if you: - Hold more than 100 SKUs - Have multiple stock locations - Experience stockouts or overstock - Need accurate stock valuation - Sell online (stock sync required)
Nice-to-have if you: - Hold fewer than 100 SKUs - Single location - Simple stock tracking sufficient
Not needed if you: - Don't hold stock (service business) - Dropship only - Make to order (no inventory)
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Implementation#
Timeline: 2-4 days
Setup steps: 1. Define locations 2. Set up product categories 3. Import products (SKU, description, cost) 4. Import opening stock 5. Configure reorder points 6. Train users
Data requirements: - Product master (SKU, description, UoM) - Opening stock quantities - Product costs - Supplier information (for PO integration)
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Module Dependencies#
Required for: - Cycle Counting - Slotting Optimization (with Order Management) - ML/AI Predictions (with Dashboards) - Production/Manufacturing - Route Optimization (with Order Management)
Integrates with: - All other OpsUI modules - E-commerce platforms - Accounting systems - Supplier systems
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Best Practices#
Data Quality#
Clean product data: - Consistent SKU format - Complete descriptions - Accurate dimensions/weights - Correct categories
Location Strategy#
Logical structure: - Zone by product type - Fast movers accessible - Clear location naming - Receiving vs storage areas
Reorder Optimization#
Set appropriate levels: - Lead time × daily usage = reorder point - Add safety stock for variability - Review seasonally
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Monday Morning Action Plan#
- Count Your SKUs: How many products do you stock? More than 100 = inventory management essential.
- Map Your Locations: Where is stock held? How many locations? Each needs tracking.
- Calculate Stock Value: What's your inventory worth? This determines valuation importance.
- Review Stock Accuracy: How often do you have wrong stock? Every error is lost money.
- Start Trial: Import products, test with one location. Expand when confident.