Feature Friday: Matrix, Assemblies, and Bundles (Oh My!)
Along with the default product creation, ERPLY gives retailers three different product types to choose from; Matrix, Assembly, and Bundle. These three product types offer an extra level of organization and data management to every ERPLY user. We cover a lot of information about each different kind in this article. If you’d like step by step guides on how to make these product types in your ERPLY account, scroll to the bottom for guides!
Matrix products are a way to organize items of different variations under the same “Mother Product.” Variations can include different sizes or colors of a particular product. Matrix products are a simple way to keep individually sold products of the same type, such as sizes and colors of the same shirt, organized.
It’s easy to keep track of what products are currently available and what products need to be restocked as Matrix Variations, or Child Products, have their stock tracked the same way as every item in ERPLY. Matrix products also enable the retailer to determine which variation of a product is selling the best. By allowing the retailer to view sales data of these variations grouped together or separately, they can order extras of that variation to ensure they’ll never run out of stock!
Assembly products are used for when a retailer combines, or assembles, several components into a secondary product. The largest benefit of an assembly product is that ERPLY will track each components stock separately, and deplete stock of each once the main assembly product is built. For example, a bicycle is built using 2 wheels, 1 frame, and 1 seat. ERPLY keeps those stock amounts on hand. When the bicycle is built, 2 wheels, 1 frame, and 1 seat are taken out of stock, then the assembly product is added into stock with a quantity of 1. Assembly products are useful because the retailer can keep track of inventory for each component, and see if they’re being sold more as part of the assembly product, or individually. The retailer can also see if one distinct component is continually having to be replaced, which enables the retailer to see if one of the components is creating problems (breaking) in the assembled product.
Bundle products and Assembly products share several of the same advantages. They are both a group of products sold, and they can both track each individual component separately. Unlike assembly products, Bundle Products do not hold stock on their own. Instead, the stock of each components of the bundle remain as separate pieces. By creating the bundle the items are sold together for one price. For example, the selling of a hat and a shirt as a set for one fixed price would qualify as a bundle. Both the hat and the shirt can be sold separately but have been combined to create one joint product that is now sold together. Bundles can be used for gift baskets, promotions, or special pricing or grouped items. Since ERPLY will pull the individual products from inventory that are included in the bundle every time the bundle is sold, it’s easy to see the sales of the specific components of the bundle.