Advanced stock manager

Advanced stock manager

iZettle Pro has two modes of stock and inventory management. ‘Simple’ stock management is used for retail environments, where you generally buy in what you are able to sell. ‘Advanced’ stock management is used for the hospitality industry, where you sell fractions of what you purchase - for example, pints from a keg of beer.

Simple stock manager has a 1-to-1 relationship between products and stock amounts. For example, every time you sell 1 t-shirt, exactly 1 t-shirt is destocked. Simple stock manager is the only system that can be used on products that have variants.

Advanced stock manager allows you to utilise a 1-to-1 relationship and 1-to-many relationship between the products you sell and the ingredients you stock. For example, a cocktail may destock multiple ingredients at a time, whereas a pint of ale will generally only destock one pint measure from a keg. If you use product portions, such as half pints, different recipes can be created per portion to destock alternative amounts. This stock manager is highly customisable and flexible.

Using advanced stock manager

This section details how to use advanced stock manager. It is more commonly used for hospitality businesses, and helps you manage your suppliers, ingredients and recipes to minimise wastage.

Start by setting up the suppliers of your ingredients. Log in to the backoffice portal and select the ‘Stock Manager’ option from the left hand side. You can then press ‘Suppliers’ to open up the Supplier Management page.

Press ‘Add Supplier’ and use the new window to add their details. You don’t have to fill in every field we have provided, but the name of your supplier is mandatory. Press ‘Add’ to complete the process.

If you need to edit your supplier name for reason, you can return to this screen by pressing ‘Edit’.

Now you have your suppliers, you can add the ingredients you use. Select ‘Ingredients’ from the left hand menu and press ‘Add Ingredient’. You’ll see the following window:

Name the ingredient and choose the relevant supplier name from your list.

Cost per pack is the price you purchase this ingredient for. Be sure to enter this without added tax, as this is important for calculating gross profit.

Standard pack size refers to the size of the pack you purchase this ingredient in. We have already pre-populated this with convenient options (for example, 24 units for pre-packaged drinks) but you’re free to enter this in the unit of your choosing.

Restock level is commonly referred to as ‘par level’. This is the amount of stock you wish to keep at all times. When creating purchase orders, iZettle Pro will automatically suggest the amount of stock to purchase to bring the level up to your preferred amount.

Current stock level refers to the amount you have right now, in the standard pack size. For example, if you have 24 units of drink, you’d enter ‘1’ into this box.

Alert stock level sets a limit at which you will receive a low-stock alert. You can toggle this setting on and off.

Minimum and Maximum supplier order are the amounts you wish to purchase in one transaction from the supplier. For example, some suppliers can only provide a maximum of ten cases at a time.

Once your ingredients are set you can set up specific recipes. There are two ways this is supported. One is to pre-create the recipe on the ‘Recipes’ page, available from the menu on the left. This is best for creating sub-recipes that you can reuse within larger recipes - for example: the ingredients used to make a pepper sauce might involve cream, peppercorns and seasoning - but it is useful to have this collated ready for other recipes which require this type of sauce.

The second way to set up a recipe is to select the ‘Products’ option in the menu and select the product you want to add a recipe to. Press ‘Stock’ from the top menu, then ‘Add product recipe’ as shown:

When you assign ingredients to this product, they will be de-stocked when the product is sold. To add your first ingredient, search using the option provided. The multiplier field lets you specify how much to destock of each item. For example, if you wanted to use two slices of cheese in the recipe, you would enter ‘2’ as a multiplier and select the ‘Single Units’ option.

Press the "Update Recipe" button in the lower right to finish adding ingredients. The recipe will also populate the products cost price field, which will in turn calculate gross profit figures when the product is sold.

Our fourth iZettle Pro version and onwards features a suggestion of average cost prices to help you manage your stock. This is especially useful in situations where your supplier may change the cost of products frequently, perhaps due to demand or seasonal availability. You’ll see the suggested value change every time you update the cost of an ingredient and it will average out depending on what you have in stock and the price you bought the items for.

The best way to describe how this feature works is with a short example. Imagine you normally purchase a case of 24 bottles of soda at £20.00. This equates to £0.83 per bottle. Perhaps you have a 24 unit case in stock currently and you plan to order another. The supplier has an offer available, this second case of soda costs £15.00, and you purchase one case. The total value of your stock holding is £35.00 for 48 bottles, which now makes the per bottle price £0.73. This new cost price would also be updated across all of your recipes so that changes are reflected in any gross profit figures.

Please note that if you update an ingredients cost price at the time of purchase, the cost price will not change to reflect this in the ingredients settings. If a supplier makes a permanent change to a cost price, you should update this by going to your Stock Manager and editing your ingredient to reflect this change.

Once you have completed, press the "Update Recipe" button in the lower right. The recipe will also populate the products cost price field, which will in turn calculate gross profit figures when the product is sold.

How to add unites and measures

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