Creating and Managing Bucket SKUs for Precious Metals
Objective
This SOP outlines the steps to create and manage bucket SKUs for precious metals, including scrap gold and silver, and how to balance costs during sales.
Key Steps
Step 1: Check for Scrap Jewelry 0:16
Navigate to the inventory section.
Click on ‘Waiting for Approval’ to check for any scrap jewelry.
Expand the jewelry column to view full titles.
Step 2: Price Scrap Gold 1:10
Click on the 14 carat scrap gold item.
Use the three-line menu in the top right corner to confirm and activate it.
Choose the category and set a temporary selling price (e.g., $1,400).
Hit ‘Submit’.
Step 3: Create a Bucket SKU for Scrap Gold 2:02
Go back to the inventory section.
Navigate to ‘Bucket SKUs’.
Click on the three-line menu and select ‘Create Bucket SKU’.
Enter ‘Scrap Gold’ as the title.
Enable it for metals, select ‘Gold’ as the metal type, and set the unit to grams.
Set the category to ‘Metal Gold Staging Jewelry’ and add a description.
Hit ‘Save’.
Step 4: Create a Bucket SKU for Scrap Silver 3:43
Repeat the process to create a bucket SKU for silver.
Title it ‘Silver Scrap’, enable it for metals, select ‘Silver’ as the metal type, and set the unit to grams.
Save the SKU.
Step 5: Add Scrap Gold to Bucket SKU 4:27
Locate the 14 carat scrap gold in active inventory.
Use the three-line menu to add it to the ‘Scrap Gold’ bucket SKU.
Hit ‘Submit’.
Step 6: Price and Add Scrap Silver to Bucket SKU 5:06
Check for silver scrap in ‘Waiting for Approval’.
Price the silver scrap and confirm it to move to active inventory.
Add it to the ‘Silver Scrap’ bucket SKU using the three-line menu.
Step 7: Price Additional Scrap Gold 6:00
Check for any additional gold scrap items.
Price the 10 carat scrap gold and confirm it to active inventory.
Add it to the ‘Scrap Gold’ bucket SKU.
Step 8: Review Bucket SKU Totals 6:38
Navigate to the ‘Bucket SKU’ tab to review totals.
Check the total grams and cost per gram for both gold and silver.
Step 9: Process a Sale 7:32
Go to the sales section and open the till.
Start a new sale and add items from the bucket SKU.
Weigh the total items and calculate the cost.
Step 10: Adjust Costs for Profit Management 9:20
Adjust the cost of items sold to manage the overall cost of the bucket SKU.
Ensure profit margins are maintained.
Step 11: Complete the Sale 11:21
Finalize the transaction by entering the cash amount.
Hit ‘Pay’ to complete the sale.
Cautionary Notes
Always double-check prices before submitting to avoid errors.
Ensure that all items are correctly categorized to maintain inventory accuracy.
Tips for Efficiency
Regularly review inventory to keep track of scrap items.
Use consistent pricing strategies to simplify the pricing process.
Keep a log of bucket SKU adjustments for future reference.
Link to Loom
https://loom.com/share/ebe7b9ab1b7f443e85d9c9116434359b