Feature Request: Auto Purchase Order Tool for Square
Summary:
A feature that allows businesses to generate automated purchase orders (POs) based on live inventory data. This tool would streamline the ordering process by pulling real-time stock levels, applying vendor-specific settings, and factoring in desired stock levels and low-stock alerts. The goal is to help businesses manage inventory more efficiently and reduce stockouts.
Key Features:
1. Auto Purchase Order Generation
Vendor Selection Tool:
When generating a purchase order, users can select a specific vendor from a dropdown list of all linked vendors.
The tool will automatically match products associated with the selected vendor.
Live Inventory Integration:
The tool pulls real-time inventory data directly from the Square catalog.
It cross-references this data with vendor-specific products to ensure accurate ordering.
Days of Stock Setting:
In the settings menu, users can configure their desired days of stock to maintain.
The system will calculate how much of each product to order to meet the set stock level.
For example, if the user sets a 45-day stock target, the system will recommend quantities to cover the next 45 days based on sales velocity.
Custom Stock Settings:
Users can adjust stock settings for specific products based on space limitations or shelf life.
For example, frozen products or items with short shelf lives may have lower stock targets.
2. Sales History and Velocity Calculation
91-Day Sales History:
The system will use a 91-day sales history (one full quarter) to calculate sales velocity.
Users can customize this timeframe if needed, but the default setting will provide an accurate quarterly snapshot.
Sales Velocity Integration:
The tool calculates recommended order quantities based on recent sales velocity.
Users can set different timeframes for calculating sales velocity (e.g., last 91 days, last 30 days).
3. Low Stock Alerts
Customizable Alerts:
Users can set threshold levels for low stock alerts per product or across categories.
Alerts can be sent via email or displayed as in-app notifications.
Triggered Alerts for Purchase Orders:
When a product hits the low stock threshold, it will automatically appear as a suggested item in the next purchase order for the relevant vendor.
Users can review and adjust quantities before finalizing the order.
4. Order Cost Calculation
Default Cost Per Vendor:
The system will calculate the total cost of the order based on the default cost for each item from the selected vendor.
This helps users understand the financial impact of their purchase orders before submission.
5. Vendor Management
Vendor Profiles:
Each vendor profile includes contact information, payment terms, and delivery lead times.
Products can be linked to specific vendors, ensuring accurate POs.
6. Order Review & Adjustment
Editable Purchase Orders:
Users can review and adjust suggested POs before submitting them to vendors.
The system will provide a breakdown of quantities, costs, and expected delivery dates.
Export & Email Options:
POs can be exported as PDFs or spreadsheets.
Users can send POs directly to vendors via email from within the Square system.
Benefits:
Saves time by automating the ordering process.
Reduces stockouts and overstocking by ensuring optimal inventory levels.
Provides a streamlined way to manage vendor relationships.
Increases accuracy by pulling live inventory data directly from the Square catalog.
Helps businesses respond to fluctuating sales trends by using real-time sales velocity data.
Example Workflow:
User logs into Square and navigates to the new "Auto Purchase Orders" section.
User selects a vendor from the dropdown menu.
The tool pulls live inventory data and 91-day sales velocity for that vendor's products.
The system calculates recommended order quantities based on the user’s desired 45-day stock target.
The user reviews, adjusts quantities if needed, and submits the PO to the vendor.
The system calculates the total cost of the order based on the default cost per item from the selected vendor.
Potential Customization Options:
Days of stock setting (e.g., 7 days, 14 days, 45 days).
Sales velocity timeframe (e.g., last 91 days, last 30 days).
Low stock alert thresholds.
Vendor-specific settings for minimum order quantities and lead times.
Request for Implementation:
We believe this feature would be a valuable addition to Square's inventory management tools. By automating the purchase order process, businesses can save time, reduce human error, and improve overall inventory management. The ability to customize settings such as sales history timeframe, days of stock, and vendor-specific costs would make this tool highly adaptable for different business needs.
@isabelle I put it into a formal request with an updated video demo
