In its turn, the Product Stock configuration makes it possible to specify general logic of the product management practice on the per product basis. Inventory management is one of the most critical functions in any organization. Using stock management feature in WooCommerce requires an option: "Enable stock management at product level" with a checkbox to be "checked" An effective inventory management system enables organizations to react swiftly to market demands and also bring in substantial cost reduction through optimal stock holding. ; You can also turn on price rules if you want to set up flexible pricing for the things you sell. If you follow it strictly, you’ll find the top 20% moving items and invest more effort into controlling their inventory … It will also tell you about the re-order level of a product. Square’s inventory management gives you basic tools to keep a clear count of in-stock items in your item library. Go to Settings ⚙ and select Account and Settings. The 'stock turn rate' is a calculation you can use to check if your stock planning is effective.A low stock turn rate means you're moving stock too slowly, which creates excess or old ('aged') stock, as well as higher holding costs. Product Stock Options. A high stock turn rate could mean you don't have enough stock on hand to supply customer needs. The benefits of inventory management and the knowledge about its usage are vital for enhancing product quality, improving competitive ability, reducing inventory carrying costs by reducing inventories, service enhancement, and operational flexibility through pull systems. First, expand the Product Stock Options panel in the Inventory menu in Catalog. When viewing products in the admin, in the inventory view on the Products page and on your Dashboard, you’ll see a couple color indicators: red means sold out, yellow means your available stock is below 25%. ; Turn on Show Product/Service column on sales forms. 2. What’s Allow product overselling, you may wonder? Product Stock Options Settings. This part of the dashboard will show you product’s current stock and value. Top 5 Strategies to Improve Inventory Management. ; Select Edit in the Products and services section. There must be something that sets the stock quantity value and the stock management value by default when creating the product. So we set each product to have 1 stock on creation automatically. We have a peculiar WooCommerce setup where each product is only sold once. Over the past few years, tracking product genealogy and traceability are at the top of inventory managers’ must-have lists. Step 1: Turn on inventory tracking. Inventory management professionals use this principle to inform them of which products to prioritize: which ones to put more effort into re-ordering, storing, checking, etc. The stock status of these products will not be changed as opposed to the stock status of products which had "Enable stock management at product level" un-ticked before un-ticking "Enable stock management" checkbox in WooCommerce >> Settings >> Products >> Inventory. If you haven’t yet, turn on these settings so you can add your inventory. Unfortunately, I can still select more than 1 when adding the item to the cart. And, you will get an alert message if the stock level is less than re-order level. ; Select the Sales tab. 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