Overview

This guide outlines the different stock types managed in The Edge system. Each stock type serves a specific purpose and involves unique handling procedures. Proper categorisation ensures accurate tracking, reporting, and liability coverage.

Stock Types

Stock

Standard stock purchased from a supplier. The default stock type for regular inventory items.

Appro (Approval / Memo Stock)

Stock loaned by suppliers to a retailer free of charge until an agreed date. The retailer is charged only if the item is sold or not returned by the agreed date.

Consignment

Stock customers provide for the retailer to sell on their behalf.

• Requirements: Must have a customer assigned to the item within The Edge.
• Pricing: Typically determined by the customer.
• Valuation: Not mandatory but recommended to resolve disputes in case of loss.

Sample

Stock displayed for promotional purposes and not intended for sale.

• Best Practice: Enter sample stock into The Edge for liability and tracking purposes.

Trade-In

Items acquired from customers in exchange for goods or funds. This is treated differently from supplier-purchased stock and requires accurate documentation.

Assembled

Items created by combining multiple stock components within The Edge.

• Example: A ring created by combining a loose stone and a mount.

Best Practices

• Always categorise stock correctly in The Edge to maintain accurate inventory and reporting.
• Record customer details for consignment stock to ensure clear communication and accountability.
• Assign valuations to consignment items for liability protection in case of loss.
• Enter all stock types, including samples, into The Edge to ensure liability and tracking.
• Clearly document trade-in transactions to differentiate them from standard purchases.