❗This article is related to New Assortment Plan. If you are on the old Assortment Plan and would like to migrate to the new Assortment Plan, please reach out to your Customer Success Manager
Overview
Once you have generated your sales forecasts in Assortment Plan, the next step is to go through the Receipt Generation process.
Receipt Generation will generate an ideal receipts flow for your business, using:
Existing sales forecast
Current on hand and on order inventory
Replenishment information (e.g. order cycle, safety stock targets and size curves)
Then you can review inventory, initial sales plan, on order metrics as well as recommended receipts under Receipts Plan tab under the details section.
Receipts Generation Attributes
We covered the Forecast Attributes in this article. Everything that system needs to run a receipt generation function is defined through these attributes which are:
Size Curve
Safety Stock
Order Cycle
Lead Time
Triggering a Receipt Generation task
In order to generate a receipt, you need to right click on the selected choices and then select 'Generate Receipts' option. Please see the instructions below:
Navigate to any assortment and then any view in Assortment Plan.
Using the filter, group, and sort functions, you can easily configure the view to display the products you are interested in receipt generation.
By clicking on any of the checkboxes, you can select the item(s) you would like to generate receipts for. You can then right click and select the 'Generate Receipt' function which will run the task.
You can track the progress of the Forecast through Task Manager
If you have the Metrics panel upon under the details section is open, system will automatically refresh the data once the task is completed and Receipts Units Plan metrics will be updated
Please note that once you Approve or Commit a Recommended Purchase Order, the system will automatically trigger a Receipt Generation task as well for your Receipts to be updated based on the planned On Order Units data.
Reviewing a Receipt Plan
Once you generate receipts for a given choice, system will create a receipt plan for each size that is planned.
If your choice is a placeholder choice, then in the Receipts Plan, you'll see each size that is defined on your selected Size Curve.
If your choice is an assigned choice i.e an actual choice, then in the Receipts Plan, you'll see only the sizes that the actual choice has on variant level.
In order to review a selected choice's Receipt Plan, follow the instructions below:
Click on the double down arrow next to your choice in the main planning section
System will open the details section with Metrics tab by default
Then select Receipts Plan tab on the details section
GSU Plan (SS + OC) shows the initial Receipts period's Sales Plan. We are planning to sell all the three sizes.
BOP unit is the beginning inventory and the Current Inventory is the inventory as of today. We see that we have inventory for size Small and Medium, but no inventory for size Large.
There is no On Order Units planned or actualized for this choice yet.
Inventory Ownership reflects the distribution of sizes of the current inventory whereas Ideal Ownership shows the ideal inventory levels needed per the size curve that is selected for this choice.
Receipts Contribution shows the distribution of recommended receipts units per each size. For this example, as we have enough inventory to cover the sales for Small and Medium, the system is not recommending any receipts for these sizes. However, for size Large, as we don't have any inventory and planned sales, the system recommends receipts for this size.
After Receipts shows the distribution of the inventory after receipts are generated for the ideal case. For this example, we are seeing After Receipts are much different compared to the ideal ownership due to the excess inventory that we have for size Small and Medium.
If we did not have any inventory, then we should have expected After Receipts to be very close to the Ideal Ownership as the system would recommend just enough receipts per the forecasted sales plan.
Finally, the system shows each recommended Receipts Units per each recommended Receipt Date.
Once you are ready to generate a Recommended Purchase Order for these choices, system will use the Receipts Plan as the basis for finalizing the Purchase Order. The system will be applying Minimum Order Quantities if defined on Size, Color, and Style levels as Constraint Units at the Recommended Purchase Order step. Please see these articles to learn more about Recommended Purchase Order.