Using stock management
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 muffin, exactly 1 muffin is destocked. Simple stock manager is the only system that can be used on products that have variants.
Advanced stock manager allows you to use 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.
Getting started with stock manager
Our custom stock guide will provide all the information you need.
Using advanced stock manager
This section explains how to use advanced stock manager. This helps you manage your suppliers, ingredients and recipes to minimise wastage.
Start by setting up the suppliers of your ingredients.
- Log into the Backoffice web portal.
- Select Stock Manager from the left-hand menu.
- Click Suppliers to display the Supplier screen.
- Click Add Supplier and add their details. You do not have to fill in every field provided, but the name of your supplier is mandatory.
- Click Add to complete the process.
To edit a supplier, click Edit. The Edit Supplier dialogue box appears.
- Add the ingredients you use. Select Ingredients from the left-hand drop-down menu and click Add Ingredient. The following window appears:
- Name the ingredient and choose the relevant supplier name from your list.
Cost per Standard Pack Size 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 automatically suggests 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 to do this:
- Pre-create the recipe on the Recipes page, available from the left-hand menu. 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.
- Alternatively, select Products in the left-hand menu, and Products from the drop-down menu. Edit the product to which you want to add a recipe. Select the Stock tab, then click Add product recipe:
When you assign ingredients to this product, they are destocked 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 want to use two slices of cheese in the recipe, enter ‘2’ as a multiplier and select the ‘Single Units’ option.
To finish adding ingredients, click Save Recipe. The recipe also populates the products cost price field which, in turn, calculates gross profit figures when the product is sold.
In iZettle Pro version 4 and later, average cost prices are suggested 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. The suggested value changes every time you update the cost of an ingredient and it averages out depending on what you have in stock and the price you bought the items for.
The following example illustrates how this feature works:
Normally, you purchase a case of 24 bottles of tonic 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 tonic 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 is also updated across all of your recipes so that changes are reflected in any gross profit figures.
Note that if you update an ingredient’s cost price at the time of purchase, the cost price will not change to reflect this in the ingredient’s settings. If a supplier makes a permanent change to a cost price, update this in your Stock Manager by editing your ingredient to reflect this change.
When you have completed your edits, click Update Recipe. The recipe also populates the product’s cost price field which, in turn, calculates gross profit figures when the product is sold.
Adding units and measures
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