Stock Glossary

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Browse the glossary using this index

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L

Last Purchase Price

This is the amount you have bought your last item for.

Every item has its own Last Purchase Price.

Example - When you buy 3 different orders on 3 different days, your last day and last order you bought will be the Last Purchase Price.

Linking Stock Item to a Counting Location

Linking Stock Items to Counting Locations allows you to assign a physical place to where the item is stored. These locations can be bins, shelves, or specific areas within the Warehouse, and are used to manage inventory levels, perform stock counts, and ensure that items are stored systematically for easy retrieval.

Please Note: Counting Locations need to be set up before Stock Items can be linked. For more information, please refer to the user manual: How to Create a Counting Location.

Web App:

Roadmap: NW > MOD Stock - S Creditors > T Counting Locations - S Counting Locations >> Select Counting Location - S Counting Location > B Add New - S Link to: Counting Location, Stock Item List

Lost Stock

A record of the amount and type of items missing from stock.

Loss of stock is when there is less of an item in stock than what's shown on the database or paper records that indicate where it should be.

These occurrences must be tracked to identify patterns of loss that are linked to misplacement or theft of inventory items so that corrective actions can be taken.