Cloudy Revenue Inventory Knowledge Base

Product

The Product object is the core master object in Cloudy Inventory and serves as the foundation for all inventory and operational processes. It represents the products or services that an organization purchases, manufactures, stores, and sells. Every business transaction begins with a Product record, making it one of the most important objects in the application.

A Product defines essential information such as product name, SKU, product family, inventory behavior, valuation method, vendor, lead time, unit of measurement, and barcode configuration. Once created, it can be associated with Stock Items, Purchase Orders, Goods Receipts, Inventory, Bill of Materials (BOM), Production Batches, Orders, Invoices, Payments, and other business transactions.

How the Product Object Represents in Cloudy Inventory.

In Cloudy Inventory, the Product object represents the master definition of a product, while the Stock Item represents its physical inventory.

A Product defines what the organization buys, manufactures, or sells, whereas Stock Items manage inventory-specific details such as pricing, lot numbers, serial numbers, warehouse allocation, and stock availability.

Why is it Used?

The Product object is used to:

• Maintain a centralized master catalog of all products and services.
• Define products before creating Stock Items.
• Categorize products using Product Family.
• Configure inventory behavior using Track Inventory.
• Define inventory fulfillment methods for procurement and manufacturing.
• Manage product costing and valuation methods.
• Associate preferred vendors with products.
• Configure lead time for procurement planning.
• Generate Barcode or QR Codes for product identification.
• Support Purchase Orders, Goods Receipts, and Inventory Management.
• Enable manufacturing through Bill of Materials (BOM) and Production Batches.
• Support Orders, Invoices, Payments, and Reporting.
• Ensure consistent product information across all Cloudy Inventory modules.

Key Features

📦 Centralized Product Management
Maintain a single master record for every product, ensuring consistent product information across procurement, inventory, manufacturing, sales, and billing processes.

🏷️ Product Classification
Organize products using Product Family (Hardware, Software, Service, and Subscription) to simplify product management, reporting, and analytics.

🔖 Product Identification
Assign unique Product Codes and Product SKUs to accurately identify products and improve warehouse and inventory operations.

📊 Inventory Tracking
Enable inventory tracking to automatically maintain stock quantities, inventory transactions, and warehouse availability for physical products.

⚙️ Inventory Fulfillment Configuration
Configure products as Not Inventory Tracked, Finished Good, or Component Based to support different inventory and manufacturing processes.

📏 Unit of Measurement (UOM) Support
Define Base UOM and Transaction UOM to ensure accurate quantity management across purchasing, inventory, manufacturing, and sales.

💰 Inventory Valuation Methods
Support multiple valuation methods such as FIFO, Weighted Average Cost (WAC), Standard Cost, Serial, LIFO, and Landed Cost for accurate inventory costing.

🏢 Vendor Association
Associate preferred vendors with products to streamline procurement activities and simplify Purchase Order creation.

⏳ Lead Time Management
Configure lead times to improve procurement planning, inventory replenishment, and production scheduling.

💵 Standard Cost Management
Maintain the standard cost of each product to support inventory valuation, profitability analysis, and financial reporting.

🔳 Barcode & QR Code Support
Generate Barcode and QR Codes for products to simplify warehouse scanning, inventory identification, and stock verification.

🖼️ Product Image Management
Attach product images to enable quick visual identification during receiving, picking, packing, and inventory counting.

📐 Product Dimension Management
Maintain product dimensions such as height and width to support storage planning, packaging, and logistics operations.

🏭 Manufacturing Integration
Integrate products with Bill of Materials (BOM) and Production Batches to support component-based manufacturing processes.

🛒 Procurement Integration
Use products in Purchase Orders and Goods Receipts to ensure seamless procurement and automatic inventory updates.

📄 Order & Billing Integration
Add products to Orders and Invoices, enabling a smooth order-to-cash process from sales through payment collection.

📈 Reporting & Analytics
Leverage product information in dashboards and reports to gain insights into inventory, procurement, manufacturing, warehouse, and sales performance.

🏬 Multi-Warehouse & Multi-Legal Entity Support
Manage products across multiple warehouses and legal entities while maintaining centralized control and operational consistency.

Checkbox Functionality

The Usage Product object includes checkbox fields that control processing behavior.

Example Business Scenario

Scenario: Manufacturing and Selling a Sedan Car

ABC Automotive Pvt. Ltd. manufactures and sells Sedan Cars. Before the company can manufacture, purchase, store, or sell the vehicle, it first creates a Product record in Cloudy Inventory. This Product serves as the master record and is used throughout the entire business lifecycle.

The Product is configured with the following details:

• Product Name: Sedan Car
• Product Family: Hardware
• Product Code: CAR-SEDAN-001
• Product SKU: SDN-001
• Status: Active
• Track Inventory: ✅ Enabled
• Inventory Fulfillment Method: Finished Good
• Valuation Method: FIFO
• Standard Cost: USD 18,500
• Vendor: ABC Automotive Components
• Unit of Measure: Each

System Behaviour

Once the Product record is created:

• The Product becomes available across all Cloudy Inventory modules.
• Warehouse users can receive inventory against the Product through Goods Receipts.
• Manufacturing users can include the Product in Bill of Materials (BOM) and Production Batches.
• Procurement users can create Purchase Orders for the Product and its components.
• Inventory quantities are automatically updated whenever stock is received, issued, manufactured, or delivered.
• Sales users can add the Product to Orders and generate customer Invoices.
• Barcode or QR Code is automatically generated for product identification.
• The configured Valuation Method and Standard Cost are used during inventory valuation and financial reporting.
• Product SKU and Product Code uniquely identify the product across all business transactions.

Outcome:

By configuring the Product in Cloudy Inventory:

• A single Product record is used throughout the complete business process.
• Inventory remains accurate across multiple warehouses and legal entities.
• Procurement, Manufacturing, Warehouse, Sales, and Billing teams work from the same product information.
• Product identification becomes faster using Product SKU, Barcode, and QR Code.
• Manufacturing and order fulfillment processes become more efficient.
• Inventory valuation and product costing remain accurate for financial reporting.
• Complete traceability is maintained from Product Creation to Customer Delivery.

SEE ALSO :

_____👉Product Creation
_____👉Stock Item