--- title: "Inventory Terminology" canonical: "https://kb.myframeworks.com.au/space/FRAM/28378104/Inventory%20Terminology" format: markdown --- # Overview This page covers terminology used within Frameworks related to its Inventory module. # Child Products Variations or specific units of the parent product (e.g., different lengths of cable). They inherit pricing from the parent and are sold individually. --- # GTINs A **Global Trade Identification Number (GTIN)** is a code that uniquely identifies a package variant of a product using a single code, which is typically displayed as a barcode for scanning purposes. A GTIN barcode represents a product, the unit of measure and the package quantity from that supplier. For example, a single code would represent a box of 20 hammers. Scanning that barcode from within selected programs will determine the Product Code, Supplier, UOM and Conversion Factor of the scanned product. --- # Independently Traded **Independently Traded** refers to a status indicating that the parent product can be bought or sold independently, without the necessity of selecting a child product; this checkbox is informational and can be modified within Product Maintenance for non-tally products. --- # Parent Product The main product (e.g., a full roll of cable). It represents the whole item, including its total dimensions or packaging. --- # Product Code A unique reference of mandatory information that is easy to find. There are different ways of determining what system will be used to generate these codes. --- # Product Type A product type is a categorisation or classification assigned to a particular product to define its characteristics, behaviour, and how it is managed within the system. The product type helps in organising and handling different types of products based on specific criteria. > Macro (excerpt) > > In Frameworks, the product type is assigned a numerical code (0-8), and each code represents a different type of product with distinct attributes and rules governing its usage, reordering, and other functionalities. The product type helps streamline processes related to inventory management, purchasing, sales, and other aspects of product handling within the Frameworks software. > > The product types available within Frameworks are: > > - **Normal **(0): Regarded as a normally stocked product with stock movement occurring when the product is bought or sold. > - **Non-Stocked** (1): Considered not stocked and hence, not considered in the stock re-order calculation. > - **Promotional **(2): Only purchased for a promotion and is considered in automatic stock re-ordering. > - **Run Out** (3): Kept in stock, not re-ordered, cannot be added to a purchase order and can be purged when the **Purge Product** task is run. > - **Random Sheet** (4): Used for **m2** (square metre) products, like cut-to-order glass. When this product type is added to a purchase order or sale, the user is prompted for the length and width. A product with a unit of measure of **ea** (each) can't be a Random Sheet product. > - **Manufactured** (5): Usually a frame or truss product that is produced from other stock, via the production process. There is no stock movement for the actual manufactured product, however, there are stock movements for the components. > - **Miscellaneous** (6): Associated with expenses such as delivery fees or freight charges where stock movements are not required. This is the only product type that can be added to a creditor's invoice during **Stock Invoice Approval.** > - **Special **(7): Not a stocked product but created ‘on the fly' to fill a customer’s special order. The product is not re-ordered and can’t be added to a purchase order or another sale if the system setting flag **SOPSpReuse **is enabled. Can be purged when the **Purge Product** task is run. > - **Template **(8): Used to predefine values, such as the product group and subgroups, to ensure greater control over the sell price and GP% when creating special products in a sales order or quote. When a Template Product is added to a sales transaction, it triggers the creation of a special product and automatically pulls in the predefined details from the template. --- # Product Groups It is mandatory that a product be assigned a valid Frameworks product group as a means of keeping like products together for analysis and GL postings. It is the way Frameworks categorises products for: - Common Pricing - Sales Analysis and all other product-related reporting You would usually have no more than 20. - Example – Hardware, Builders Hardware, Paint and Plumbing --- # Product Sub-Groups Sub Groups are a further breakdown of Product Groups. They provide a more granular control over pricing and analysis. For example the group "Paint" could be broken down into sub-groups of Indoor, Outdoor, and Accessories. --- # Rebates A rebate is a portion of the *purchase* price of a product that a seller gives back to the buyer.  Unlike discounts, which are deducted in advance of payments, rebates are given after payment to the supplier. --- # Stock Source Stock Source allows you to define the physical locations used to store non-shelf stock products. These locations are called Stock Source Codes and will print on the picking list to enable staff to locate the stock. The Stock Source table is used where the user is prompted for a stock source code if the product being sold is not flagged as shelf stock in the Product Master File. That is, the Stock Data field Shelf Stock is set to** **'**no**'. --- # Tariff Code Tariff codes are used for classifying products according to the percentage of duties & taxes to be paid when these products are imported. The international tariff code is used and can be assigned against product groups and products so that duties can be applied to a product for customs importing purposes. --- # Units of Measure (UOM) Units of measure are the different units you buy and sell an individual product in. For example – Bolts are purchased in boxes of 20 (BX) but can be sold as in either box quantities or each bolt (EA).  If you buy 3 boxes, then there are 60 bolts (EA) in stock.