Presentation on theme: "Close a Term: Understanding Allocation in WinPRISM"— Presentation transcript:
1 Close a Term: Understanding Allocation in WinPRISM Presented byMona WeatherlyTraining Division
2 Why Close A Term? Sales History Timing important Sales post to term Until QTP is metTerm is closedTiming importantClose too early, sales lowClose too late, sales highWhy Close A Term?To shut off posting of salesCreate a historical record for future decisionsWhat else will shut off posting of sales?QTP is metPosting box at Term Maintenance is uncheckedTiming is importantClose too early, sales will be unnaturally lowClose too late, sales may be skewed high
3 When to Close a Term No more purchase orders No more course requests Expect no more/very few sales for termCan close only Active termsClose terms separately for multi-locationsClose a term when:There are no more purchase orders for the term.There are no more course requests for the term.You expect no more or veery few sales for term.
4 Preparations 115 Term Maintenance Uncheck Export to Web checkbox Term cycle off websitePrepartions to close a term115 Term MaintenanceUncheck Export to Web checkbox at Term MaintenanceGive term time to cycle off the website
5 Preparations 201 Purchase Orders Print Open PO Report Receive or cancel as neededCan receive and cancel when term is closedAdd Item ConfigurationHammer OptionAll users uncheck term to be closed201 Purchase OrdersPrint the Open PO’s by Term ReportReceive or cancel orders as neededCan receive and cancel when term is closedAdd Item ConfigurationHammer OptionUncheck term at Add Item ConfigurationAll users must do thisAdd Item Configuration unique to each login
6 Preparations 213 Buyback Session Setup Merchandise Transfers Returns Close any session using termMerchandise TransfersReceive or cancelReturnsOptionalCan be created for a closed term213 Buyback Session SetupClose any buyback session(s) using termMerchandise TransfersReceive or cancel for the termReturnsOptionalCan create returns for a closed term
7 Preparations Decide if inventory will be reallocated More accurately, how will inventory be allocated for next term?Re-allocate by WinPRISM at Close a TermManually work and rework titlesDecide how to handle allocated inventory for the next term
8 To allocate or not to allocate, that is the question; Whether ‘tis nobler in the store to sufferThe manual entry and calculations of non-allocated fortune,Or to take action against a sea of confusion,And by allocating inventory, end a term.To allocate or not to allocate, that is the question;Whether ‘tis nobler in the store to sufferThe manual entry and calculations of non-allocated fortune,Or to take action against a sea of confusion,And by allocating inventory, end a term.
9 Reallocate Inventory: 4 Choices Compute and replace allocated inventoryDo not compute and replace; reset Worked titles to ReworkDo not compute and replace; do not reset Worked titles to ReworkAllocate SOHReallocate Inventory: 4 Choices1. Compute and replace allocated inventory2. Do not compute and replace; reset Worked titles to Rework3. Do not compute and replace; do not reset Worked titles to Rework4. Allocate SOH
11 Order Equation - Allocated Inventory - Order Short (optional) Quantity to Provide- Allocated Inventory- Order Short (optional)- Estimated/Actual/No Buyback- On Order- ReceivedOpen to BuyReview the the Order EquationClose a Term can re-calculate Allocated Inventory.Allocated Inventory is included in the Order Equation which determines Open to Buy.Quantity to Provide- Allocated Inventory- Order Short (optional)- Estimated/Actual/No Buyback- On Order- ReceivedOpen to Buy
12 Reallocation Report Preview/Print whether allocate or not Preview/Print before closing termReview what WinPRISM will doHelp determine if closing too early/too lateCannot print report after term is closedReallocation ReportPreview/Print whether allocate or notPreview/Print before closing termReview what WinPRISM will doHelp determine if closing too early or too lateCannot print report after term is closed
13 Reallocation Report Reallocation Report SKU, Description (Author/Title), Current Allocation*, New Allocation of Next Term, New OTB of Next Term, Term Code of Next Term* Prior to version 1700, bug in the Reallocation Report.Current Allocation shows allocation of the term being closed.Current Allocation should show the current allocation of the next term.This is the field that WinPRISM will change, replace it with the quantity shown in New Allocation column.Cosmetic bug on print job only.Other columns show correctly.Bug will be fixed in 1800Sample report has been edited to show the correct Current Allocation for the next term.
14 Reallocation Report If WinPRISM allocates more than you did More left over than thought there would beLower SalesClasses cancelled, weren’t notifiedClasses cancelled, didn’t cancel them in WinPRISMOver-estimated what would be soldRec/opt book entered as requiredBad bookBook available elsewhereClosing term too earlyIf WinPRISM allocates more than you didMore left over than thought there would beLower SalesClasses cancelled, weren’t notifiedClasses cancelled, didn’t cancel them in WinPRISMOver-estimated what would be soldBook was rec/opt but entered as requiredBad booksBooks available elsewhereClosing term too early
15 Reallocation Report If WinPRISM allocates less than you did Less left over than thought there would beGood news! Higher salesEnrollment increase; didn’t increase QTPClasses added; not entered in WinPRISMUnder-estimated what would be soldRequired book entered as rec/optPopular bookBook unavailable elsewhereClosing too lateBad news! May be short for following termIf WinPRISM allocates less than you didLess left over than thought there would beGood news! Higher salesEnrollment increase; didn’t increase QTPClasses added; not entered in WinPRISMUnder-estimated what would be soldRequired book entered as rec/optPopular bookBook unavailable elsewhereClosing too lateBad news! May be short for following term
16 Close a Term Equation Actual Buyback for each open term + Received for each open termQty A- Sales for each open termQty BSOH (After Sales)- Qty B- Allocated for future termsReallocation AmountWinPRISM calculations for reallocationClose a Term EquationDoesn’t automatically look at stock-on-hand.Looks at the books come into the system (Actuall Buyback and Receiving)Looks at the way books leave the system (Sales)Compares to stock-on-handTakes into consideration allocations for future termsActual Buyback for each open term+ Received for each open termQty A- Sales for each open termQty BSOH- Qty B- Allocated for future termsReallocation Amount
17 Close a Term EquationAct BB, Rec’d, Sales and Allocated doesn’t include term being closedFor multiple campuses: Includes other campuses for same locationFor multiple locations: Doesn’t include terms for other locationsActual Buyback, Received, Sales and Allocated Amounts used in Close a Term Equation doesn’t include these amounts from term being closed.For multiple campuses: Does includes other campuses for same locationFor multiple locations: Doesn’t include terms for other locations
18 1. Compute and ReplaceComputes and replaces allocated inventory for next termClose a term equationReallocation ReportWorked titles in next term remain WorkedCompute and ReplaceCheck “Compute and Replace” box in Close Active term dialogThis means that you will have WinPRISM compute and replace allocated inventory for the next termWinPRISM will use the Close Term Equation to determine what to allocate.Worked titles remain WorkedReallocation ReportPreview and/or print before closing a termSee what WinRPISM will do before it does itWhat does it mean to let WinPRISM allocate?You are replacing the allocation (your estimation of what will be left over at the end of the term) that you made when first worked the term with the quantities that WinPRISM says there really is left over. Leaving the status Worked means you can immediately create a want list, autogen orders or create a buyback list as needed.
19 1. Compute and Replace Close a Term Equation used for reallocation OTB recalculated if allocation changesWorked status will remain WorkedClose a Term Equation used for reallocationOTB recalculated if allocation changesWorked status will remain Worked
20 1. Compute and Replace 15 50 + 10 - 14 25 A - 15 - 10 25 11 - 0 25 B 25 A - 15- 10- 025 B391425 A - 15- 10- 025 B39B14
21 2. Don’t Compute; Do Reset Status Don’t compute and replace allocated inventoryReset Worked Statuses to ReworkDon’t compute and replace allocated inventory. Do rest the Order Decision statuses of Worked to Rework.Do not check Compute and ReplaceDo check the Reset Status
22 2. Don’t Compute; Do Reset Status No reallocation computationAllocation with not changeOTB will not changeWorked status flip to ReworkNo reallocation computationAllocation with not changeOTB will not changeWorked status will flip to Rework
23 2. Don’t Compute; Do Reset Status Allocation unchangedOTB unchangedStatus is ReworkAllocation unchangedOTB unchangedStatus is Rework
24 3. Don’t Compute; Don’t Reset Don’t compute and replace allocated inventoryDon’t reset order decision statusWorked titles remain WorkedDon’t Compute; Don’t ResetDo not check Compute and ReallocateDo not check Reset StatusCan still print the Reallocation Report to check WinPRISM against yourselfAllocated inventory that you manually set will remain unchanged.Order decisions statuses will remain unchangedUsing the setting of both the Compute and Replace box and the Reset Status box unchecked mean means that the allocated inventory quantities that you set when you first worked the term are still true. You trust the decisions you made some time agoto to be accurate and you do not want to check yourself again what WinPRISM says is available. By not resetting the order decision status, you are saying that you are ready to create want lists, autogenned orders or buyback lists based on the entries you made. Be aware that you will be using the manually entered allocated inventory that you entered.If all your alocation guesses when you first work the term are good one, this may be a good option. However if you find that your manual allocations are not really what is left over at the end of the term, you may end up with more or less books than you really need. Use this option with caution.Remember, you can still print or preview the Reallocation Report, even if you don’t want WinPRISM to allocate, so you could print it as a guide, if necessary
25 3. Don’t Compute; Don’t Reset No computation for reallocationAllocation will not changeOTB will not changeStatus will stay WorkedNo computation for reallocationAllocation will not changeOTB will not changeStatus will stay Worked
27 4. Allocate SOH Available as of version 1700 Works best with only one term openAllocates to selected termIf used incorrectly, OTB grossly over- or under-calculatedCannot be reversed4. Allocate SOHAvailable as of version 1700Works best when only one term open after term being closedIf used incorrectly, OTB grossly over- or under-calculatedCannot be reversed
28 4. Allocate SOHWill consider received quantities for selected term but not other termsWill not consider Act BB for selected term or any termWill not consider allocated inventory for future termsDoes not change order decision statusWill consider received quantities for selected term but not other termsWill not consider Act BB for selected term or any termWill not consider allocated inventory for future termsDoes not change order decision status
29 4. Allocate SOH New stock-on-hand + Used stock-on-hand Received for selected termUnposted salesSOH to allocate to selected termNew stock-on-hand+ Used stock-on-hand- Received for selected term- Unposted salesSOH to allocate to selected term
30 4. Allocate SOHOrder decision status doesn’t changeOrder decision status doesn’t change
31 4. Allocate SOH To use SOH option Must be enabled by WinPRISM ICS SupportAllocation cannot be reversedDocumentation available on support websiteWinPRISM ICS > Release Notes >Individual “How-to” Files
32 Allocation Comparison I Term AReady to closeTerm BWork statusSOH 14QTP 50OTB 50
44 To Allocate or Not to Allocate Factors to ConsiderTiming & What Needs to Be Done NextHow many terms are open?What has been done in the next term?What has been done in future terms?Need to generate want list, autogen orders or buyback list immediately?Trust earlier manual allocation to be still accurate?Worked titles to remain Worked?Worked titles to flip to Rework?
46 After Term is Closed Term status set to Closed Ending Inventory written to closed termCourse requests cannot be enteredPurchase orders cannot be createdSales will not post to termWhen a term is closed:The term status is set to Closed.Ending inventory is written to closed term.Course requests cannot be entered for the term.Purchase orders cannot be created for the term.Sales will not post to the term (with the expection being the sale of a title that is not used in any future term).
47 After Term is Closed 115 Term Maintenance 114 Order Decisions Check and edit, if necessary, posting order for remaining terms114 Order DecisionsPrint Order Decision Status Report for “Not Worked” for next termWork titles as needed115 Term MaintenanceCheck and edit the posting order for remaining terms.Closing a term takes the closed term out of the sales posting order but does not automatically check the post sales checkbox for any remaining terms.114 Order DecisionsPrint the Order Decision Status Report for “Not Worked” status and work any titles that were set to Rework, if applicable.
48 After Term is Closed 201 Purchase Orders 331 Want Lists Returns Review list of open orders for closed termReceive or cancel outstanding orders331 Want ListsDelete want lists for closed term, if applicableReturnsCan be created for titles in a closed term201 Purchase OrdersReview the list of open orders for the term that printed as part of the close a term process. Receive or cancel outstanding orders. You can also print the Open PO’s by Term report.331 Want ListsDelete want lists for closed term, they weren’t removed as part of the close a term process.Create returns, either manually or via autogeration, for the closed term as needed.
49 Close a Term: Understanding Allocation in WinPRISM Thank you for your time!Please fill out a session evaluation.