![\"Properties](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/08\/e-commerce.png\")
<\/figure>\n\n\n\nThere are multiple properties of E-commerce platform but below-mentioned properties plays very important role in E-commerce platform:<\/p>\n\n\n\n
- Sales Management<\/li>
- Billing & Accounting Management<\/li>
- Inventory Management<\/li><\/ul>\n\n\n\n
Sales Management<\/strong><\/h3>\n\n\n\n
Sales management is the process to sell your goods. It is a way to give the direction to the sales team to run sales for the ecommerce shop smoothly. This process includes the planning direction, including recruiting, selecting, assigning etc.<\/p>\n\n\n\n
Billing & Accounting Management<\/strong><\/h3>\n\n\n\n
Accounting is a systematic process to calculate the transactions of the firm to measure the monetary terms and records into the different accounts. Basically, Accounting notifies us the profit and loss of the business and also tells us the value of assets & liabilities.<\/p>\n\n\n\n
For more info you can check my previous blog which was based on Accounting<\/strong><\/a>.<\/p>\n\n\n\n
Inventory Management<\/strong><\/h3>\n\n\n\n
![\"Inventory](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/08\/inventory-1.png\")
<\/figure>\n\n\n\nInventory is meant to be stock which we keep in the warehouse. It is basically assets for the company which means available goods for the sale which can be consumable or can be sold.<\/p>\n\n\n\n
Inventory is one of its most valuable assets of a business; shortage of inventory can cause disaster of a business.<\/p>\n\n\n\n
Inventory includes the management of raw materials, components, and finished products, as well as warehousing and processing such items.<\/p>\n\n\n\n
Impact of inventory in the E-commerce properties <\/strong><\/h3>\n\n\n\n
Inventory management is very important for any ecommerce shop because it is very helpful to increase sales and financial growth for any ecommerce industry. It is always required to maintain stock to manage this cycle because most of the properties are totally dependent with the inventory.<\/p>\n\n\n\n
What happens when inventory is not managed properly?<\/strong><\/p>\n\n\n\n
- It impacts the customer relationship as if inventory is mismanaged then you\u2019ll not be able to deliver the goods to them timely.<\/li>
- It impacts the company sale as customers do not prefer to purchase from those who offer uninformed delay in delivery.<\/li>
- If inventory is not managed properly then it impacts the financial growth of the company due to the loss of sale and potential customers.<\/li>
- It makes a big impact on company resources due to the unbearable loss in the business.<\/li><\/ul>\n\n\n\n
Workflow of Inventory Management System <\/strong><\/h3>\n\n\n\n
Inventory plays a very crucial role for any industry. So as per the manufacturing based industry inventory follows the below-mentioned workflow:<\/p>\n\n\n\n
Workflow<\/strong><\/h3>\n\n\n\n
![\"workflow](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/08\/workflow-1.png\")
<\/figure>\n\n\n\nProperties<\/strong><\/h3>\n\n\n\n
Terms<\/strong><\/td> Definition<\/strong><\/td><\/tr> Raw Materials<\/strong><\/td> Goods which are required to prepare a final product.<\/td><\/tr> Warehouse<\/strong><\/td> Where raw material and final products will store.<\/td><\/tr> Production<\/strong><\/td> Produce the final product using the raw materials.<\/td><\/tr> Quality Check<\/strong><\/td> Phase to check the durability\/quality of the product before sending it to the warehouse.<\/td><\/tr> Finished Product<\/strong><\/td> Final product which is prepared by the raw materials.<\/td><\/tr> Shipping<\/strong><\/td> It is the process to send the goods to the customers.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n How to manage Inventory Management in Odoo?<\/strong><\/h3>\n\n\n\n
![\"Odoo](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/08\/inventory-1-1.png\")
<\/figure>\n\n\n\nOdoo is a modular based ecommerce platform which means everything in Odoo is divided into different segments. So in order to manage inventory in Odoo you are required to install the \u201cInventory<\/strong>\u201d module. Odoo inventory facilitates you to manage the stock in Odoo without any hassle. Firstly, you need to go inside the app list where you need to search the \u201cInventory<\/strong>\u201d module by name or by technical name \u201cStock<\/strong>\u201d.<\/p>\n\n\n\n
![\"Install](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-22.png\")
<\/figure>\n\n\n\nOnce, you search for the module you can click on the \u201cinstall<\/strong>\u201d button in order to install the \u201cInventory<\/strong>\u201d module.<\/p>\n\n\n\n
Process of the Inventory<\/strong><\/h3>\n\n\n\n
There are multiple ways in Odoo to process the inventory; so, we\u2019ll discuss all the points serially.<\/p>\n\n\n\n
Image<\/strong><\/p>\n\n\n\n
Receive Product in Stock<\/h4>\n\n\n\n
In Odoo you can receive the products in multiple ways but before this you are required to create a product and by default Odoo manages three types of the product.<\/p>\n\n\n\n
- Service<\/li>
- Consumable <\/li>
- Stockable (Visible after inventory module installation)<\/li><\/ul>\n\n\n\n
Immediate Transfer<\/strong><\/p>\n\n\n\n
To immediately transfer, go to the \u201cInventory<\/strong>\u201d menu and from the receipts card, click on the ellipsis then click on the immediate transfer option.<\/p>\n\n\n\n
![\"Select](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-21.png\")
<\/figure>\n\n\n\nAfter that, you will get a form where you can leave the \u201cSchedule Date<\/strong>\u201d field empty and add the products inside the lines for which you want to update the stock. <\/p>\n\n\n\n
Once you\u2019ve added it then you need to click on the \u201cValidate<\/strong>\u201d button to process the stock.<\/p>\n\n\n\n
![\"Add](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-20-1200x360.png\")
<\/figure>\n\n\n\nPlanned Transfer<\/strong><\/p>\n\n\n\n
For planned transfer, go to the \u201cInventory<\/strong>\u201d menu and from the receipts card click on the triple dot button then click on the planned transfer option.<\/p>\n\n\n\n
![\"Planned](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-19.png\")
<\/figure>\n\n\n\nThen, you will get a form where you are required to add the \u201cSchedule Date<\/strong>\u201d field for planned transfer and add the products inside the lines for which you want to update the stock.<\/p>\n\n\n\n
After adding it, you can click on the \u201cMARK AS TODO<\/strong>\u201d button to process the stock.<\/p>\n\n\n\n
![\"MARK](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-18-1200x394.png\")
<\/figure>\n\n\n\nReceipts from Purchase Orders<\/strong><\/p>\n\n\n\n
For this, you need to install the purchase application. After installing this application.<\/p>\n\n\n\n
![\"Install](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-17.png\")
<\/figure>\n\n\n\nYou can simply create the purchase order and after validating that order; \u201cReceipt<\/strong>\u201d will be created for the purchase order.<\/p>\n\n\n\n
![\"Receipt](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-16-1200x517.png\")
<\/figure>\n\n\n\nDeliver Stocked Product<\/h4>\n\n\n\n
In Odoo, you can deliver the products in different ways.<\/p>\n\n\n\n
Immediate Transfer<\/strong><\/p>\n\n\n\n
To immediately transfer, go to the \u201cInventory<\/strong>\u201d menu and from the \u201cDelivery Orders<\/strong>\u201d card click on the triple dot button and after that click on the immediate transfer option.<\/p>\n\n\n\n
![\"Immediate](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-15.png\")
<\/figure>\n\n\n\nThen you will get a form where you need to leave the \u201cSchedule Date<\/strong>\u201d field empty and add the products inside the lines for which you want to deliver the stock. <\/p>\n\n\n\n
After adding it you can click on the \u201cValidate<\/strong>\u201d button to process the stock.<\/p>\n\n\n\n
![\"Immediate](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-14-1200x363.png\")
<\/figure>\n\n\n\nPlanned Transfer<\/strong><\/p>\n\n\n\n
For planned transfer, go to the \u201cInventory<\/strong>\u201d menu and from the \u201cDelivery Orders<\/strong>\u201d card click on the triple dot button and after that click on the planned transfer option.<\/p>\n\n\n\n
![\"Planned](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-13.png\")
<\/figure>\n\n\n\nThen you will get a form where you need to add the \u201cSchedule Date<\/strong>\u201d field for planned transfer and add the products inside the lines for which you want to deliver the stock. <\/p>\n\n\n\n
After adding it you can click on the \u201cSCRAP<\/strong>\u201d button to process the stock.<\/p>\n\n\n\n
![\"click](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-12-1200x362.png\")
<\/figure>\n\n\n\nDeliver product from stock using Sale Orders<\/strong><\/p>\n\n\n\n
For this, you need to install the Sales application. <\/p>\n\n\n\n
![\"Install](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-11.png\")
<\/figure>\n\n\n\nOnce installed, you can simply create the sale order and after confirming that order \u201cDelivery Order<\/strong>\u201d will be created for the sale order.<\/p>\n\n\n\n
![\"Delivery](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-10.png\")
<\/figure>\n\n\n\nSet Your Product Stock<\/h4>\n\n\n\n
To set the stock inside the products you can follow below ways,<\/p>\n\n\n\n
Inventory Adjustments<\/strong><\/p>\n\n\n\n
To create inventory Adjustments go to the below path,<\/p>\n\n\n\n
\u201cInventory \u2192 Operations \u2192 Inventory Adjustments<\/strong>\u201d<\/p>\n\n\n\n
![\"Inventory](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-9.png\")
<\/figure>\n\n\n\nHere, you can simply create inventory adjustments. For any particular product you can add that product inside the product field but in case of multiple products you can leave the product field empty. After that, you can simply process the stock.<\/p>\n\n\n\n
![\"update](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-8-1200x355.png\")
<\/figure>\n\n\n\nVirtual Transfer(Inventory Adjustment for single product)<\/strong><\/p>\n\n\n\n
Navigate to the below mentioned path:<\/p>\n\n\n\n
Inventory \u2192 Master Data \u2192 Products<\/strong><\/p>\n\n\n\n
Then select the product for which you want to update the stock. Then in product form you will get a button \u201cUpdate Quantity<\/strong>\u201d.<\/p>\n\n\n\n
![\"Navigate](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-7-1200x106.png\")
<\/figure>\n\n\n\nBy clicking on this button, you will get a form where you can add the stock which you want to update for the product and then click on the \u201cSave<\/strong>\u201d button to update the stock.<\/p>\n\n\n\n
![\"updating](\"https:\/\/cdnblog.webkul.com\/blog\/wp-content\/uploads\/2020\/07\/pasted-image-0-6-1200x145.png\")
<\/figure>\n\n\n\nThere is much more about Odoo inventory that you need to know which you can find in my future blogs<\/a>.<\/p><\/blockquote>\n\n\n\n
<\/div>\n\n\n\nWe Would Love to Hear From You!<\/strong><\/h3>\n\n\n\n
Hope you find the blog informative! Please feel free to share your feedback in the comments below.<\/p>\n\n\n\n
Also, check our store page<\/strong> <\/a>to go through our Odoo modules.<\/em><\/p>\n\n\n\n
If you have any doubt or query then create a ticket<\/a> <\/strong>or drop us a mail at support@webkul.com<\/strong><\/p>\n\n\n\n
Thanks for paying attention!!<\/p>\n\n\n\n
\ud83d\ude42 \ud83d\ude0a<\/p>\n","protected":false},"excerpt":{"rendered":"