How to create a new product

Devinstock streamlines your product and service creation process, encompassing various business sectors (service, distribution, project-based, manufacturing). Whether you specialize in service provision, product sales, or distribution, you can easily create and manage products or services, or import new ones, facilitating smooth purchasing and sales operations.

This approach enables businesses to adapt to market demands and efficiently manage their inventory, which results in enhancing overall operational efficiency and profitability.

To create a new product in Devinstock, follow these steps: First, navigate to the Stock module and select "New Product."

Product General Informations

To start, please provide the following general information:

• Product Reference: Required (Unique)
• Product Name: Required
• Designation: Required
• Type: Product or Service
• Opening Stock (this will generate a new entry in the Transfers table)
• Family Group
• Unit of Measure
• Description

Modify your Product

Editing your Product and Service follows a the same process and form data. You have the option to modify your product either from the product page or the index page.

Product Pricing

Within your product form, please scroll under the pricing section, and specify:

• Applicable VAT: 0%, 10%, 20% ..
• Purchase Price: This refers to the price at which a product or service is acquired from a supplier.
• Cost: The estimated cost of reception, may include transport, labor fees or inventory fees.
• Margin: your benefit margin (percentage or fixed value)
• Sale Price (excluding VAT)
• Sale Price (including VAT)

It is crucial to develop a comprehensive pricing strategy for your product that clearly defines all potential costs and profit margins to prevent over spending and provide a competitive sales price.

It is generally recommended to acquire pricing information from various suppliers and regularly update your products price list and costs (this will be discussed further in the inventory section).

Product Inventory

Inventory and stock management is essential if your company is involved in distribution or manufacturing. It plays a crucial role in ensuring the smooth operation of your business. Effective management of inventory and stock levels can help you optimize your supply chain, minimize costs, and maximize efficiency.

To manage your product inventory, scroll to the inventory section.

• Tracking Method

Basic Tracking, Batch tracking or Serial Number Tracking

• Stock Management Method

FIFO (First In First out), LIFO (Last In First Out), Average

Head to inventory tracking & management methods to learn more about this section.

Product Variants

If the product has variants, it's important to consider the different options available. By selecting the appropriate variants, you can tailor the product to meet specific preferences and requirements. Once you have chosen the right variant (Color, material. size .. ), you can proceed to create them with ease.

Adding a product variant is optional; you can save the product information once all the data is valid.