How to update Virtual Inventory?

What is Virtual Inventory? 

Virtual Inventory gives retailers new ways to aggregate and segment their stock. It lets them create virtual pools of inventory—defined by inventory rules, buffers, and exclusions—and control which inventory pool is used for what purpose and prioritize inventory by sales channel.

Benefits of Virtual Inventory

  • Adapt to sudden demands
  • Prevent in-store stockouts
  • Manage pre-orders
  • Segment inventory by region
  • Control back-end sourcing
  • Add agility to the inventory during pandemic situations

 

Virtual inventory is recorded at Warehouse level.


How virtual inventory works?

Let us understand the concept of Virtual Inventory by taking an example. Supposedly, a client/seller has 3 warehouses; and he sells electric appliances (like refrigerator) across India. Now it is almost difficult for the client to maintain stock at each major city. 

So, he may choose to upload a virtual inventory on all the marketplaces. Once he received the orders, the user has the choice of either fulfilling the order by moving the product directly from the warehouse (if an inventory is available) OR he can also procure the product from vendor immediately after receiving the order OR he can also choose to procure the product from a nearby supplier or distributor of that location.

Process 

In Vin-eRetail, we provide a very simple solution for uploading virtual memory.

 

Step 1: Go to WMS>Miscellaneous>Bulk Upload

 

Step 2:  Select Upload Virtual_Inventory upload from the dropdown. Download the template.

Step 3: Fill the template for the SKU wherein the virtual inventory is supposed to be uploaded. 

Note: All the yellow highlighted fields are mandatory. Save the file in .CSV format. Do not change the format of the file.


ClientId:    Provide the Client Id in which you want to update the SKU virtual inventory.

WarehouseID: Provide the Warehouse in which you want the Virtual inventory to reflect.

SKUCode: Provide the SKU Code which is given by the client during the SKU Creation.

Mode: Three mode options are

  • Add/Update – It adds the quantity or update the old quantity of the SKU.
  • Full Fresh – Old data gets deleted and new data will be updated.
  • Deleted – It deletes the old data.

Save this file in .CSV template on your computer.

 

Step 4: Once you choose the file and upload it on e-retails, this is how the final status will look like: