The Bransom Blog


A glossary of terms used in Stock Management in the Jewellery Trade

This means both the letters A to Z and the digits 0 to 9. An alphanumeric field is one in which you can enter both letters and numbers. For example, a supplier reference might be AB203. See also numeric

Many items can be refined by giving them a number of attributes. for example: metal (gold, silver, platinum), stone (ruby, diamond) etc

average cost
This is the average cost of all the items in stock (including new purchases) for a particular stock line. Also known as weighted average cost. In bsmart, see “COSTCHG – Cost Price Adjustments Screen” for an example of how the average cost is calculated.

base stock level
The minimum number of items that should be kept in stock at a location. If automatic re-ordering is being used, then when the number of stock items falls below the base stock level, more items are automatically ordered. Also see start stock level.

a) A group of dockets. A batch usually consists of many dockets, but even a single docket can be a batch. Usually, a batch of dockets contains all the sales which relate to a days takings. 
b) A group of invoices or a group of credit notes. A batch usually consists of many invoices (or credit notes), but even a single invoice or credit note can be a batch.

box label
See pad label.

See under location.

clear down
This term appears on many screens. Essentially, it means that information is updated, moved or removed. Typically, when information is cleared down from one part of the system, you cannot see it again, but it may now be available in other parts of the system. In bsmart, see “Tidying the System (Housekeeping)” and “Weekly & Monthly.

A category is a way of relating your Department and Sub-Department structure to standard global headings. This is useful for inter-company analysis reporting and for sharing information with other jewellers who use the same stock structure. Categories are are user-definable, see “System Codes and Configuration”.

current selling price
See RSP.

Departments and sub-departments are a way of organising stock information within the Stock Control module, so that you can obtain useful information about sales. In bsmart, see “Stock Coding Structure”.

deposit order
(see Deposit/Special Order System)
This allows you to take a deposit on an item which is not currently available because:

  1. The item needs to be transferred from another store
  2. The item is out of stock and needs to be ordered
  3. The item is being made up for the client
  4. The item is being specially ordered as a one off

discontinued reason
A two-character code that identifies the reason that a stock item should not be re-ordered. For example, the supplier has stopped manufacturing it, or you decide to stop selling it because it does not sell well or because you have replaced it with a similar stock item. You define your own codes, and you can have as many as required. In bsmart, see “Discontinue/Highlight An Item”.

display label
See label

A sales receipt.

Electronic Point of Sale.

An area on the screen where you enter data or where you accept the value that has already been entered automatically by the software.

highlight reason
A two-character code that is associated with a stock item. It helps to identify stock items which require extra attention. In bsmart, see “Discontinue/Highlight An Item”. The “?” wildcard may be used to group similar highlight reasons together e.g. CR core range and NR new range ?R will select all codes ending with R. Similarly P? will group all codes starting with P. These codes are user definable, see “System Codes and Configuration”.

An abbreviation for Highlight Reason. It appears on some reports.

See pad label.

Location is the general term for a stock holding location. This can be one of your sales branches (shops) or it can be some other location that you might set up such as “returned to supplier” awaiting a credit note.

Markdown is used to calculate an appropriate cost from the RSP. It is used for bulk stock items which are not stocked separately, for example, fashion earring, findings, repairs and so on. Each stock item could have a difference price, however they are priced using the same mark up and therefore can be marked down by the same percentage. In bsmart, see “Work out a Markdown Percentage”. 

markup %
See markup percentage.

markup percentage
The Markup Percentage is used by the system to calculate the RSP of a stock item from its cost. The system takes the cost and multiplies it by the Markup Percentage, then uses the rounding rules to arrive at the final RSP.

This means the digits 0 to 9. 
numeric field is one in which you can enter only the digits 0 to 9. For example, a Supplier Code might be 0102. 
See also alphanumeric

outstanding order
An order that you have placed with a supplier, but which has not yet been fully processed using the purchase invoice menus (because it hasn’t yet been received).

pad label
pad label is used with a stock item that is on display to the public. Typically, there is just one stock item on display, but there may be many items in stock. Do not confuse a pad label with a ticket. See ‘Tickets & Labels’

pattern number (supplier’s)
See supplier reference

See markdown, markup, RRSP and RSP

product identification code (supplier’s)
See supplier reference

See docket

re-order level
See base stock level.

Recommended Retail Selling Price. This is usually used for branded stock items, where the price is fixed until the Supplier issues a new price list.

Retail selling price. This is the ticket price before any discount is applied. Also known as current selling price.

sales docket
See docket

sales invoice
See docket

sales receipt
See docket

special order
Used when a customer requires a variant of an item which has to be ordered specially, eg a different ring size

start stock level
This is used in two different ways, depending upon location. For location 000, it is used as a minimum order level. For all other locations it is used as the level at which a distribution is triggered.
Also see base stock level.

Stock Number (bsmart)
This is the combination of Department + Sub-Department + Item Number. Do not confuse the Bransom Stock Number with a supplier’s stock number. In bsmart, a supplier’s stock number is called Supplier Reference.

stock turn
A percentage measurement of how often your stock sells. A stock turn of one shows your stock sells once a year. Two sells twice a year, and so on.

supplier code
numeric code that identifies each of your suppliers. Each supplier must have a different supplier code. The supplier code is defined by people in your organisation. Do not confuse supplier code with supplier reference

supplier reference
A supplier’s own code for an item of stock. Also known as supplier’s pattern number or supplier’s stock number. Do not confuse supplier reference with supplier code. In bsmart, see “Dealing with Duplicate Supplier References”. 

See under department.

ticket is attached to each stock item that is in your shop. It helps your staff to identify a stock item correctly. To describe a stock item to the public, use a label

ticket file
A data file that is used internally by the Bransom system. It stores information about tickets and pad labels that will be produced. Typically, first you produce a ticket file, then you print the tickets and pad labels. The system uses the information that is in the ticket file to produce the tickets and pad labels.

ticket type
The design of a ticket. For example, a ticket might be a dumbell or a stringtag. It also refers to the information printed on the ticket. You might have 3 ticket types for Diamond Rings, Jewellery and Watches which all print on the same style of ticket, but what is printed is different for each.

The Nett Price. The sales values on reports are the net sales after discount and VAT.

week number
The financial week number of your financial year (1 to 52 or 1 to 53). If your financial year starts in April , the first week will be week 1, the last week in the following March will be week 52 or week 53 depending on how your company deals with accounting periods.

weighted average cost
See average cost

X Read (X Report)
Running an X read gives you a quick snapshot of your cash drawer balance. An X Report is cumulative, and never resets by itself. So if you only run X Reports the data will build every day.
Z Read (Z Report)
You run a Z read when you want a final balance of your cash drawer (typically at the end of the day).
A Z Read resets your cash drawer to £0.00, so that you can get a fresh balance of your cash drawer every time you run a Z.
If you run an X report right after a Z report without any new sales, it will print with all zeros, and no new data.