Glossary
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George Sutton
Updated : Created :
This page describes terminology used in Unleashed inventory management.
| Unleashed Term | Acronym | Description |
|---|---|---|
| Average Landed Cost | ALC | This is the calculated per unit value of a product with Stock on Hand. The ALC is calculated using any the landed purchasing price and any other costs associated in procuring the stock. See How to manage Average Landed Costs |
| Adjustment Reason | N/A | Every Stock Adjustment that is completed can be given an "Adjustment Reason", providing reportable context for any adjustments made to your inventory. See Adjustment Reasons |
| Assembled Product | N/A | An "Assembled Product" describes a product that can be produced with the Stock on Hand of component products in your inventory. |
| Assembly | ASM | An "Assembly" is a transaction completed to build stock from the component products in your inventory. The component quantities used in an Assembly are removed from Stock on Hand and the assembled product is added to the Stock on Hand. You can assemble the products using the components as described in the Bill of Materials. |
| Backorder | N/A | If all the products of a Sales Order are not available when the shipment is created, a "Backorder" status records the outstanding products that should be delivered when stock becomes available. This is a status to indicate that the customer has not received the complete order. |
| Bill of Materials | BOM | A "Bill of Materials" is the recipe Unleashed uses when generating Assemblies and Disassemblies for your assembled products. It is an important resource which contains a comprehensive list of all component products, costs and specifications required to build one unit of the assembled product. |
| By-Product | N/A |
A "By-Product" is a component product that is produced when an Assembly is completed. |
| Component Product | N/A |
A "Component Product" describes a product that is used to create Stock on Hand for an assembled product. |
| Disassembly | DSM |
A "Disassembly" is a transaction completed to break down an assembled product into it's components. The disassembled product's quantity is removed from Stock on Hand whilst the equivalent component quantities are added into Stock on Hand. You can disassemble the products into it's components as described in the assembled product's Bill of Materials. |
| Doc Designer | N/A | "Doc Designer" is a feature that enables you to create and customize templates for transactions processed in Unleashed. See Doc Designer. |
| Drop Ship | N/A | A process in which the seller/retailer sells inventory without holding the stock. Instead the retailer/seller sells products directly from Supplier to Customer. See How to manage Drop Ship Orders. |
| Margin | N/A | A "Margin" in Unleashed is defined as the monetary difference between the sale price and the cost of the product. |
| Markup Price | N/A | "Markup Price" is the difference between the selling price and cost price of a product. The Markup Price Updates feature in Unleashed, enables you to set the sell prices for products based on a pre-determined markup percentage. |
| Never Diminishing Products | NDP | "Never Diminishing Products" are products in Unleashed that do not require physical inventory to be stocked and managed. These can be used to manage consistently incurred charges such as freight, labor, or shipping fees. See Never Diminishing Products (NDP). |
| Order Management | N/A | Order Management is a feature in Unleashed allowing you to manage multiple Invoices and Shipments per Sales Order. |
| Purchase Order | PO | A "Purchase Order" is document sent by the buyer to the Supplier to procure goods or services. It can include specific details like the type, quantity, and the price for a product or service. |
| Purchase Order Costs | PO Costs | "Purchase Order Costs" can are additional, intangible charges incurred when procuring goods from a Supplier. Common examples of Purchase Order Costs are labor costs, insurance, shipping etc. |
| Residual Value | N/A | A "Residual Value" is the difference found in a product's current value, compared to when it was initially purchased. See What is a residual value? |
| Role | N/A | "Roles" allow you to manage User access, view and use of Unleashed, based on the permissions and restrictions provided. |
| Role Permissions | N/A | "Role Permissions" allow you to grant or restrict a Role's access to view or interact with a specific page type or function of Unleashed. See Role Permissions. |
| Sales Invoice | SI | A "Sales Invoice" is a document generated from a Sales Order, sent from a seller to a Customer detailing; services rendered, items provided, and the amount owed by the Customer. |
| Sales Order | SO |
A "Sales Order" is a document that a seller creates to confirm a sale to a Customer and outline the terms of the order, detailing products and services rendered. |
| Sales Quote | SQ | A "Sales Quote" is a document that a seller generate for a potential buyer to estimate and plan for the costs involved to buy a product or service. |
| Sales Shipment | SS | A "Sales Shipment" is a transaction, generated from a Sales Order that accounts for the movement of stock from your inventory to a Customer. |
| Sell Price Tier | N/A | The "Sell Price Tier" enables you to specify different sell prices for different types of customers. See Sell Price Tiers. |
| Stock Adjustment | SA |
A "Stock Adjustment" is a transaction completed to update a product's Stock on Hand quantity and/or stock value. Stock Adjustments are commonly used to process internal inventory changes such as write-offs, damages, donations etc. See Stock Adjustments. |
| Stock Count (Stock Take) | ST |
A "Stock Count" can be used as a way of auditing your inventory. It is a transaction that is completed to ensure your physical Stock on Hand is accurately represented by the system in real-time, whilst identifying any variances or discrepancies. See Create Stock Counts. |
| Stock On Hand | SOH | "Stock on Hand" is the number of units a product has in your inventory. |
| Split Receipt | N/A | Use a "Split Receipt" to partially receive products from a Purchase Order that hasn't arrived in full. This enables you to use the stock you have already received but keep track of anything still outstanding. See How to Split Receipt a Purchase Order. |
| Stock Revaluation | N/A | A "Stock Revaluation" is a import process that allows you to update the ALC of a product(s) that currently has a SOH greater than zero. See Import Stock Revaluation. |
| Supplier Return | SR | A "Supplier Return" is a transaction completed to credit or return products or services that have been receipted from a PO. See Add Supplier Return. |
| Warehouse Transfer | TX | Use "Warehouse Transfers" to move SOH from one Warehouse to another. See Warehouse Transfers. |
| Wastage Quantity | N/A | "Wastage Quantity" is the number of component units used in an ASM that were leftover but haven't been returned in to SOH. |