How do I process a stocking order?

Last Updated: May 2024

Part 1: the Direct Sale

Part 2: Recording device use for facility stock

Part 3: Tracking Facility Stock, Sales, and Commisions

ConnectSx recently released a new Event Type to accommodate situations where inventory is ordered by a provider and fulfilled directly by the manufacturer. Prior to this you could already process a direct sale to a provider with the Event Type, “Case”. However, how would you keep track of what was still on the shelf at the provider or what was being used in which case if the inventory was already deactivated in your account? Well that’s why we created the event type “Stocking Order”.

This new Event Type allows you to hold the inventory as useable stock, assigned to the Facility it was sold to, even though it has already been sold. This is the only situation where single use inventory from an Event is not consumed and deactivated after a case.

To learn how, keep reading below!

Part 1: The Direct Sale

The first part of a Stocking Order occurs after the provider requests or orders inventory from the manufacturer. This first step will “sell” the inventory to the facility and render it no longer sellable, but allow it to remain as Facility Stock. Typically this step will be executed by a Manufacturer Admin user, but it can also be done by sales users in the Console.

1. Navigate to the Events screen in the Console

2. Click Create Event

3. Select Event Type “Stocking Order”

   

4. Enter the Name, Date, and Facility implicated in the sale.

5. Enter the Representative name for the direct sale to the provider.

   1. Note: This representative is the user who should be receiving the commission for this sale. This selection will also dictate which inventory is available to sell. So, if the inventory has not yet been transferred into the User’s custody, you should take that action now before attempting to add devices.

6. Enter the Facility contact (if one has not been entered, then click the “Add New” button to create one.

7. Enter the Manufacturer and Product line implicated in the sale.

8. Click “Create”

9. Next, Click on the ”Mark Used Inventory” tab and search/select your devices as you would in any other normal Event.

10. When you’ve selected all of the inventory from the sale, you may “Submit For Billing” and process the rest of the billing process for an event as you would normally.

Part 2: Recording device use for Facility Stock

Now that the sale has been executed and processed, this inventory is considered “Facility Stock”, sold to that facility for use in future cases. In this instance, the inventory was sold to the facility outright to use off the shelf as needed for surgical cases. The stocking order allows you to sell the inventory to the facility and then record its use later in a case without double dipping on sales.

Essentially facility stock is still active because it has not been “used”, but it is already sold and cannot be sold again. It is deactivated after it is used in a case.

 

All that’s left is for the Rep (or other relevant user) to record where/when it was used:

1. Often Reps keep track of a log book at a facility for instances when Facility Stock has been used and records the case information for traceability. When the rep discovers a case has been performed or is otherwise notified, they should create an Event with the Event type “Case” as they would normally.

2. Enter all of the Event details as they would for any other case. Make sure to enter the Patient ID for traceability purposes.

3. When they get to the step for “Mark Used Inventory”, however, they should check the box in Filters for “Show Facility Stock items only”. This will allow the user to select from the items previously sold in a Stocking Order to the facility. Note: Facility Stock cannot be entered in a case with other rep consigned inventory.

   

4. Once the required inventory has been added to the Event you may click “Submit for Billing” to sign and close the event.

5. You’ll notice that while a Sales Order it available to be downloaded, the rest of the Billing process (PO, invoice, etc) does not apply since the inventory was already sold previously in a Stocking Order.

Part 3: Tracking Facility Stock, Sales, and Commissions

The last step of the process is tracking your facility stock and its use. You’ll want to do this for a few reasons:

• Know when the facility is running low. You’ll want to keep an eye on facility stock levels on critical items so you can create another stocking order and sell more so the facility doesn’t run out.

• Manage expiring facility stock. Facility stock expires like anything else and you’ll want to get out ahead of expiring inventory to ensure it doesn’t get used and so you can sell more fresh stock to the Facility.

• Pay commissions on items sold by stocking order. If the rep that did the stocking order doesn’t get the whole commission, you may need to track who covers the cases when the facility stock gets used to know who to pay commissions to.

• Track device use. Sales are one thing (admittedly they’re a pretty big thing), but tracking device use can inform more about how and when devices are getting used. This info can be useful for designing new products and forecasting your inventory.

So what tools are available to you?

Inventory Filters

In the All Inventory screen utilize filters to view your facility stock:

1. Navigate to All Inventory

2. Click on the filters button

3. Select “Facility stock” in the status dropdown

4. Enter the Facility you’d like to view Facility Stock for.

5. Note: You may also check the box to show deactivated inventory to view what facility stock has been sold.

Facility Stock Dashboard

The Facility Stock Sales reporting dashboard will allow you to view information about your facility stock, sales, and where it was used. Access this in the Sales reporting in the Events screen.