Companies can often find that the purchasing of goods within their business is entirely reactionary, with stock bought by habit or solely to fulfil current demand without a moment’s thought to forthcoming promotions or seasonal peaks. Working in this way only leads to businesses over stocking their warehouse with items that don’t sell and under stocking on the items that do, causing customers to look elsewhere for the items they require, capital becoming tied up in unshifting stock and ultimately profit margins being reduced.
Solving this everyday business problem, OrderWise Purchasing provides a solution that ensures the right goods, in the right quantities, at the right price and at the right time are always ordered. By simply running the OrderWise Purchasing report, businesses can automatically identify their stock demands from across all key areas, taking into account sales, current and desired stock levels, future forecasted demands and any manufacturing requirements for specified locations. Additionally supplier lead and buffer times can also be considered, providing businesses with a fully comprehensive system for simple and effective everyday purchasing. You can read more about OrderWise Purchasing and the functionality available within this module on our dedicated page HERE.
Adding to this extensive functionality in version 10.9 of OrderWise, four new enhancements have been added for even easier management of daily purchasing activities.
Ensure Minimum Order Quantities Are Met
It is not uncommon for many suppliers to place minimum order values on certain product lines. This can be because if the items only offer a small margin to begin with, by the time the goods have been packed and shipped, it is unprofitable for the supplier to fulfil that low value order or simply to deter non-trade purchases. However unless purchasing staff are aware of these minimum order values, time can often be spent raising a purchase order only to be told by the supplier that the minimum order value has not been reached. This leads to businesses having to go back and amend their orders or cancel them altogether if tight budgets do not allow them to stretch as far as the supplier’s minimum requirement.
Although there is already existing functionality to manage supplier minimum order quantities when using the To Purchase report, new functionality in version 10.9 of OrderWise now enables users that are raising purchase orders manually to be notified when adding a purchase order line quantity below the suppliers minimum.
With this simple but useful new functionality, businesses are able to ensure that purchasing staff are efficiently raising orders and that time isn’t wasted correcting purchase orders that don’t meet a supplier’s minimum order value.
Edit Exchange Rates In Batch Edit Purchase Order Lines
With currency exchange rates constantly fluctuating, it can often be difficult for businesses to find the best method of managing how these are applied to purchase orders. For companies importing their goods from overseas suppliers, it is vitally important to have accurate exchange rates stored against purchase orders so that a true reflection of an item’s profitability can be recorded. However with goods arriving from overseas suppliers often having long lead times, businesses can often find that the exchange rate on an order when it is raised is different to the exchange rate when the goods eventually arrive, which is also usually the one at which the invoice is paid. Manually updating each line with the correct exchange rate can be incredibly time consuming, therefore businesses should ensure they have a streamlined method of updating multiple exchange rates at once.
OrderWise already gives users the ability to recalculate the exchange rate applied to sales orders through a system utility which you can read about HERE along with the ability to integrate with exchange rate services to keep system rates current. Additionally key purchase order information, including order promised and required dates, can be updated across multiple purchase order lines at once through existing batch edit purchase order lines functionality. Now adding to this batch edit order lines feature and giving OrderWise users an easy way to cater for these exchange rate fluctuations, businesses can now edit exchange rates held against purchase order lines en-masse from this area.
Thanks to this new enhancement, businesses using OrderWise Purchasing to order goods from foreign suppliers can now benefit from a highly efficient way of updating the exchange rate across all necessary purchase order lines.
Automatically Show Supplier Notes
It is always important to keep purchasing staff informed of key details regarding suppliers. Whether these are specific instructions for the member of staff ordering the goods to remember when purchasing from that particular supplier or simply making them aware that suppliers only deliver on certain days or certain times, this information needs to be recorded and passed on to the relevant staff.
Within OrderWise, users already have the ability to record this information through the use of supplier notes. Where notes are recorded for a supplier, currently OrderWise settings enable a prompt for staff to be displayed saying “There are notes for this supplier, do you wish to view them now?” to ensure these details are not missed. However the version 10.9 release now see this prompt removed and the actual notes automatically displayed when an order is raised for the supplier. This ensures these notes are not unintentionally dismissed and time is saved when purchase orders are raised.
New Standard Purchasing Report
The final new addition to the Purchasing module is a new standard report to view Purchase Order Lines Over Received. This report will group all over received order lines based on a date range and chosen supplier, giving users full visibility of which suppliers are sending additional stock and whether there are any noticeable trends.
Thanks to these four new enhancements, businesses using OrderWise Purchasing can now benefit from even greater accuracy, efficiency and streamlined processes when raising purchase orders with all their suppliers.
For more information on OrderWise and the Purchasing Module you can download the brochure or watch our videos.
To discuss your requirements in more detail contact us today on 01522 704083.