Inventory Management Overview

Factors Affecting Inventory Calculations

Inventory management in OutSmart is based on a calculation involving products purchased, products sold, and inventory adjustments.  Basically, we take the amount of products your have purchased, subtract the amount you have sold, and then make adjustments as specified in your Inventory Adjustment Worksheet.

Purchases

Purchases recorded in the OutSmart Dispensary will increase your inventory only when they are confirmed.  This means that although you may have created a Purchase Order in the system, until you receive that order, your inventory is not affected.  You receive an order in OutSmart by registering invoices against the Purchase Order.

Navigating to the Purchase Orders page in the dispensary.

Creating a purchase order. Make sure to click “Save” once you have completed every field.

Sales & Refunds

Sales and Refunds are recorded in the OutSmart Dispensary in the form of Customer Invoices or Customer Refunds.  Whenever a product is added to a Customer Invoice, the quantity of product added will be subtracted from your inventory count.  When a product is added to a Customer Refund, the quantity is added back to your inventory.

Adding a product to a customer invoice.

Adding a product to a customer invoice that is paid-in-full will automatically reduce the stock by the amount sold.

Adjustments

Adjustments are recorded on the Inventory Adjustment Worksheet, or the Inventory Adjustment Box in the Product Page.  Adjustments take into account fluctuations in inventory levels based on product expiry, loss, breakage, theft, overstock, etc.

Navigating to the Inventory Adjustment Worksheet in the dispensary.

Click the pencil next to a product on the Product List to edit the product or view the Inventory Adjustment Box for that particular product.

Input a positive or negative number to adjust inventory by, and select the applicable reason for adjusting stock.

For some items like services or shipping costs, you may want to turn off inventory control.  For others, like products or limited services, inventory control might be useful.  Here is how you can adjust your inventory control settings for specific items in the OutSmart Dispensary.

1. Go to the product list page in your dispensary.  This is accessed by clicking on the Dispensary option in the Main Navigation Menu, and then clicking on the Product Menu at the top of the Dispensary page, and then selecting Product List.
2. Find the Product you want to modify.  You can use the search filters located on this page to narrow down the list of results so that you can more easily find your product.  When you find the product, click on the edit button for that product to go to the Product Details page.
3. On the product Details page, look for the setting called Calculate Inventory.  Changing this setting is how you customize your inventory control for an item.
4. When you are done, click Save at the top of the page.

Accessing the Product List from the Dispensary.

Set Inventory Control to yes / no.