Order processing terms

The following terms are used frequently in iMIS Orders.

Available

Product quantity on hand less the product quantity reserved.

Backorder

Indicates that insufficient inventory is available to fill an order. Orders that cannot be filled are held in a backorder status until inventory is received.

Bin

Specific location within a warehouse where a product is stored.

Committed

Actual number of products committed to fill open orders or the number of products in inventory that are awaiting shipping. Committed products do not include backorders.

Cross-sell

To persuade a customer to purchase one or more similar items that complement the product initially chosen.

Entity

Individual organization that may have multiple subsidiaries or foundations (and multiple sets of books).

Kit

Group of products sold as an individual item.

Multi-Warehouses

Option that allows you to record and store a stock item's inventory in several different warehouse locations.

On Order

Quantity of a product on order from a vendor or supplier.

Order

Request to purchase products.

Order Processing Stages

Steps orders must go through until the orders are complete. The number and type of order processing stages an order goes through depends on the order type. Different order types require different order processing stages. Examples of order processing stages include Convert quotes, Print shipping papers, Ship orders, and Invoice orders.

Order Types

Determine how orders are processed. All orders are entered as a specific order type.

Product

Item or service that your organization offers for sale to its customers.

Product Adjustments

Include inventory adjustments due to breakage, pilferage, giveaways, or physical inventory count differences.

Product Receipts

Record products received in inventory.

Product Transfers

Transfer a product's inventory from warehouse to warehouse.

Quantity on Hand

Specifies how many products are currently in stock. These are products that have been received but not shipped.

Replace

To substitute an item for the product that was initially chosen.

Reserved

Indicates how many products are in open order status. Reserved orders include both shippable and backordered items.

Stock Item

Product that physically is stocked in inventory.

Upsell

To persuade a customer to purchase a product that may have a greater value than the product initially chosen.

Warehouse

Facility where stock items are stored in inventory. Stock items can be stored in multiple warehouses.