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Close a Term: Understanding Allocation in WinPRISM Presented by Mona Weatherly Training Division.

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Presentation on theme: "Close a Term: Understanding Allocation in WinPRISM Presented by Mona Weatherly Training Division."— Presentation transcript:

1 Close a Term: Understanding Allocation in WinPRISM Presented by Mona Weatherly Training Division

2 Why Close A Term? Sales History –Sales post to term Until QTP is met Term is closed Timing important –Close too early, sales low –Close too late, sales high

3 When to Close a Term No more purchase orders No more course requests Expect no more/very few sales for term Can close only Active terms Close terms separately for multi-locations

4 Preparations 115 Term Maintenance –Uncheck Export to Web checkbox –Term cycle off website

5 Preparations 201 Purchase Orders –Print Open PO Report Receive or cancel as needed Can receive and cancel when term is closed –Add Item Configuration Hammer Option All users uncheck term to be closed

6 Preparations 213 Buyback Session Setup –Close any session using term Merchandise Transfers –Receive or cancel Returns –Optional –Can be created 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 Term Manually work and rework titles

8 To allocate or not to allocate, that is the question; Whether tis nobler in the store to suffer The 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 1.Compute and replace allocated inventory 2.Do not compute and replace; reset Worked titles to Rework 3.Do not compute and replace; do not reset Worked titles to Rework 4.Allocate SOH

10 Reallocate Comparison Chart

11 Order Equation Quantity to Provide -Allocated Inventory -Order Short (optional) -Estimated/Actual/No Buyback -On Order -Received Open to Buy

12 Reallocation Report Preview/Print whether allocate or not Preview/Print before closing term Review what WinPRISM will do Help determine if closing too early/too late Cannot print report after term is closed

13 Reallocation Report

14 If WinPRISM allocates more than you did –More left over than thought there would be –Lower Sales Classes cancelled, werent notified Classes cancelled, didnt cancel them in WinPRISM Over-estimated what would be sold Rec/opt book entered as required Bad book Book available elsewhere Closing term too early

15 Reallocation Report If WinPRISM allocates less than you did –Less left over than thought there would be –Good news! Higher sales Enrollment increase; didnt increase QTP Classes added; not entered in WinPRISM Under-estimated what would be sold Required book entered as rec/opt Popular book Book unavailable elsewhere Closing too late –Bad news! May be short for following term

16 Close a Term Equation Actual Buyback for each open term +Received for each open term Qty A -Sales for each open term Qty B SOH (After Sales) -Qty B -Allocated for future terms Reallocation Amount

17 Close a Term Equation Act BB, Recd, Sales and Allocated doesnt include term being closed For multiple campuses: Includes other campuses for same location For multiple locations: Doesnt include terms for other locations

18 1. Compute and Replace Computes and replaces allocated inventory for next term Close a term equation Reallocation Report Worked titles in next term remain Worked

19 1. Compute and Replace Close a Term Equation used for reallocation OTB recalculated if allocation changes Worked status will remain Worked

20 1. Compute and Replace A B B 14

21 2. Dont Compute; Do Reset Status Dont compute and replace allocated inventory Reset Worked Statuses to Rework

22 2. Dont Compute; Do Reset Status No reallocation computation Allocation with not change OTB will not change Worked status flip to Rework

23 2. Dont Compute; Do Reset Status Allocation unchanged OTB unchanged Status is Rework

24 3. Dont Compute; Dont Reset Dont compute and replace allocated inventory Dont reset order decision status Worked titles remain Worked

25 3. Dont Compute; Dont Reset No computation for reallocation Allocation will not change OTB will not change Status will stay Worked

26 3. Dont Compute; Dont Reset Allocation unchanged OTB unchanged Status Worked

27 4. Allocate SOH Available as of version 1700 Works best with only one term open Allocates to selected term If used incorrectly, OTB grossly over- or under-calculated Cannot be reversed

28 4. Allocate SOH Will consider received quantities for selected term but not other terms Will not consider Act BB for selected term or any term Will not consider allocated inventory for future terms Does not change order decision status

29 4. Allocate SOH New stock-on- hand +Used stock-on- hand -Received for selected term -Unposted sales SOH to allocate to selected term

30 4. Allocate SOH Order decision status doesnt change

31 4. Allocate SOH To use SOH option –Must be enabled by WinPRISM ICS Support –Allocation cannot be reversed –Documentation available on support website WinPRISM ICS > Release Notes >Individual How- to Files

32 Allocation Comparison I Term A –Ready to close Term B –Work status –SOH 14 –QTP 50 –OTB 50

33 Allocation Comparison I

34 Allocation Comparison II Term A –Ready to close Term B –Worked status –SOH 14 –QTP 50 –Est BB 15 –OTB 35

35 Allocation Comparison II

36 Allocation Comparison III Term A –Ready to close Term B –Worked status –SOH 14 –QTP 50 –Est BB 15 –On Order 10 (u) –OTB 25

37 Allocation Comparison III

38 Allocation Comparison IV Term A –Ready to close Term B –Worked status –SOH 24 –QTP 50 –Est BB 15 –Recd 10 (u) –OTB 25

39 Allocation Comparison IV

40 Allocation Comparison V Term A –Ready to close Term B –Worked status –SOH 39 –QTP 50 –Act BB 15 –Recd 10 (u) –OTB 25

41 Allocation Comparison V

42 Allocation Comparison VI Term A –Ready to close Term B –Worked status –SOH 42 –QTP 50 –Act BB 15 –Recd 10 (u) –OTB 25 Term C –Worked status –Allocated 5 –Recd 3 (n)

43 Allocation Comparison VI

44 To Allocate or Not to Allocate Factors to Consider –Timing & What Needs to Be Done Next How 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?

45 Reallocate Comparison Chart

46 After Term is Closed Term status set to Closed Ending Inventory written to closed term Course requests cannot be entered Purchase orders cannot be created Sales will not post to term

47 After Term is Closed 115 Term Maintenance –Check and edit, if necessary, posting order for remaining terms 114 Order Decisions –Print Order Decision Status Report for Not Worked for next term –Work titles as needed

48 After Term is Closed 201 Purchase Orders –Review list of open orders for closed term –Receive or cancel outstanding orders 331 Want Lists –Delete want lists for closed term, if applicable Returns –Can be created for titles in a closed term

49 Close a Term: Understanding Allocation in WinPRISM Thank you for your time! Please fill out a session evaluation.


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