ERPnext is open-source ERP software from Frappe. Most small and mid-sized companies use this software to automate their business operations. It comes with different modules that streamline the workflow of various departments.
It streamlines the cross-selling and upselling processes. So, if you are finding tactics to cross-sell your product with ERPNext then this article is for you. How can you create product bundles in ERPNext?
You can easily create product bundles in ERPnext Solution from its ‘Product Bundle’ section. All you have to do is, go to home> Selling>Items> pricing and then select product bundle. Let’s learn more about ERPNext’s product bundling techniques!
What are Product Bundles in ERPNext?
A product bundle is a master process to bundle some relevant products as a single unit of product. For example, let’s assume you sell cable and internet services. In this case, you can offer product bundles that include cable connection, Wi-Fi broadband, etc. That means you can initiate cross-selling to your customers with product bundle features of ERPNext.
Advantages of Product Bundling
A product bundle is a powerful strategy that benefits your business and targets customers. Some of the vital benefits of product bundles are:
For Businesses:
- Increased sales and revenue
It encourages customers to upsell and helps you to increase sales and revenue targets faster.
- Reduce inventory waste and overstock
Product bundles actually help your business save inventory waste and overstock. When you pair the slow-moving stock with hot-selling items, the stock turnover rates increase for all your items.
For Customers:
- Better value and Savings
Product bundles are valuable deals for customers as most bundles are sold at a discounted price.
- Enhances Customer Convenience
Product bundles mainly include complementary products that save time and boost customer convenience.
- Product Differentiation
Selling products in bundles often creates product differentiation and helps your brand stand out
How Do You Create a Product Bundle in ERPNext?
To create a product bundle in ERPNext, you will need a step-by-step guide as follows:
Prerequisites to Create Product Bundles in ERPNext
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Prepare the List of Items
ERPnext is open-source ERP software from Frappe. Most small and mid-sized companies use this software to automate their business operations. It comes with different modules that streamline the workflow of various departments.
It streamlines the cross-selling and upselling processes. So, if you are finding tactics to cross-sell your product with ERPNext product bundle then this article is for you. How can you create product bundles in ERPNext?
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Know the Basics Of Product Bundling Principal
Every product bundle must have two types of products; they are parent items and child items. How to Select Parent Items? Parent items are non-stock items as they do not exist in the physical world. That is why, it needs no stock maintenance requirement. However, you can maintain the stock of this virtual product by packaging Bill of Material (BOM) in Stock entry transactions. How To Select Child Items? Child items are stackable items as they exist in the real world. Actually, you can ship child items only. So, list down all your products including the main product under child items.
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Create Product bundles One By One
To create product bundles In ERPNext, now open the product bundle list tab and click new> click and create Parent item by unmarking ‘maintain stock’> Enter a price > enter a crisp description> enter products and qualities of item > Save. Also Read: Find Perfect ERP Solutions
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Create Product bundle For Processing Sales Order
Select child items in the packing list while creating sales invoices or delivery notes. Showcase the parent items under the main item list. Hence, the stock record of child items will decrease once you deliver the sold product. Hence, it will reflect automatically in the packing list table under the warehouse list.
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Manage Offers and Schemes using Product Bundles
You can offer special deals to customers using product bundles. For example, let's assume you offer a get-one deal. To create this offer using a product bundle all you have to do is: Create non-stock items with parent items. Now enter the offers in its descriptions and select the quantity of shippable items in the package. Hence, two qualities will decrease for the sale of each unit of bundle product.
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