Avoid stockouts – stockouts occur when a business runs out of inventory and is no longer able to process a customer’s request for purchase.Here are some of the ways reorder points will help your business: Why is setting a reorder point so important?īefore we get into the reorder point formula, let’s quickly go over the importance of reorder points. Peter covers the reorder point formula in just three minutes: The examples are slightly different, but the formula is the same. If you’re the type who likes to watch instead of read, we’ve created a video version of this post. The reorder point formula is daily unit sales multiplied by delivery lead time, with some safety stock for good measure. However, once you have a handle on the patterns of a product, you’re ready to start putting the variables together. It’s based on your purchase and sales cycles, and it varies by product. But I’m sure you already knew that!Ī reorder point is not a static number. The reorder point (ROP) is the minimum stock level a specific product can reach before you’re prompted to order more inventory. This post will show you what that is, why it’s useful, and which numbers you’ll need to generate a reorder point. Whether you’ve just started a new business or sold products for years, anyone can benefit from using the reorder point formula. inFlow now has an improved PO software system.Connecting to QuickBooks Online – set up, troubleshooting and FAQs. 3 free barcode generators that are actually worth your time.Community Connect and learn from other inFlow customers.Webinars inFlow tips straight from our in-house experts.Blog inFlow updates and long-form articles for small businesses.Videos Inventory management advice without the whiteboard.Knowledge Base Got an inFlow question? Our KB has the answer.Become a Partner Refer inFlow to your clients and earn commission.Professional Services Hire an in-house expert to set inFlow up for you.Contact Sales Get expert advice and see if inFlow is the right fit for you.Get Support Need help? Contact the inFlow support team.Contact Sales Find out quickly if inFlow is right for you.Printer Barcode label printers from inFlow.Accessories Smart accessories for your Smart Scanner.Smart Scanner The complete solution for running your operations.Talk to Sales Find out quickly if inFlow is right for you.Field Service Track tools and materials across all of your job sites.Asset Tracking An equipment signout solution your team will actually use.Wholesale inFlow brings order to even the largest of orders.Assembly and BOM See how inventory tracking keeps you ahead of orders.Warehouse Choose a WMS that’s easy to set up and deploy.B2B Portal Take B2B orders online–without a separate store.Mobile Get real work done right from your smartphone.Sales and Invoicing Quote, pick, ship, and invoice in one place.Integrations & API Connect inFlow to online sales, accounting, and more.Manufacturing Create assemblies or kits while tracking your costs.Reporting See your business your way with 30+ reports.Barcoding Generate barcodes and save time with every scan.Purchasing and Receiving Send POs and receive product from any device.Inventory Control Save money and take control of your inventory.
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