Purchase Implementation Tips

In GoldFinch, you have multiple ways to create Purchase Orders—either manually or through the Requisition Worksheet or Supply Plan within the Demand Planning App. Following these processes ensures smooth procurement, accurate inventory valuation, and efficient order fulfillment.

Key Steps for Processing Purchase Orders

• Manual or Automated Purchase Orders:

  • You can manually create Purchase Orders or use automated processes via the Requisition Worksheet or Supply Plan from the Demand Planning App to generate orders based on forecasted demand.

• Ensure Accurate Unit Cost:

  • Before creating Warehouse Receipts, make sure the Unit Cost on each Purchase Line is accurate. The Unit Cost defined on the Purchase Order will be used to value your inventory and calculate the Cost of Goods Sold (COGS) until you receive vendor invoices.

• Handling Co-Packers and Production Schedules:

  • If you're working with Co-Packers to manufacture products, you can create multiple open Warehouse Receipts in the system without posting them. These pending receipts will help with both planning and allocation.

  • Use the Item Availability Status for planning and the Sales Orders Allocation feature to allocate inventory accordingly.

• Shipping and Invoicing Before Vendor Invoices:

  • After receiving the inventory, you can proceed to ship products and issue invoices to customers before receiving vendor invoices.

  • The Daily Adjust Cost Routine will automatically adjust the COGS for sold inventory once vendor invoices are posted, ensuring that financials are accurate.

• Receive Bin and Pick Bin Configuration:

  • You can define a Receive Bin that uses a regular Pick Bin to immediately pick and ship received inventory. This approach eliminates the need for additional put-away activities, streamlining the fulfillment process.

By following these steps, GoldFinch allows you to manage your purchase orders, inventory, and order fulfillment efficiently, ensuring that costs are properly tracked, and inventory planning is optimized.

Article Purchase-Implementation-Tips  ·  Last updated September 28, 2025 · GoldFinch ERP Help Center