In Personify360, any item, service, or benefit that can be purchased by a member or customer is called a product. Personify360 provides a comprehensive and flexible product-definition structure that allows a combination of products across all subsystems. Products can be combined, packaged, and/or sold individually. Beginning with the requisition from the suppliers to the warehouse and then through the order and shipping process through the carrier to the customer’s address.
Clients will sell items over the web under the title of bookstore or catalog. The Personify360 inventory subsystem provides a way to track the life cycle of all the items in stock.
Personify360 provides the following features specific to inventory products:
· tracking cost-of-goods sold
· defining shipping calculation methods (e.g., by weight, by flat rate, or by order cost range)
· managing shipping
· managing warehouses
· managing inventory stocks and reorders
The inventory subsystem is broken down into individual and standing order products.
· Individual Product
A product that holds its own inventory where revenue will be distributed to this product’s own revenue accounts. Optionally, this product can point to any combination of products or components.
· Standing Order Product
A product that flags the Order Entry screen and also the standing order fulfillment process to follow special rules. It is a special case in that it represents a series of products, which may be purchased as a unit or by component.
Individual products could be inventoried or non-inventoried. Whereas, standing order products are only considered non-inventoried.
In this section:
· Before You Begin Working with Inventoried Products
· Inventoried Product System Types and Codes
· Inventoried vs. Non-Inventoried INV Products