Salesforce can be used to track shipping dates, upcoming payments, revenue recognition, and annuity streams. There’s a feature called Schedules that companies can use to define delivery cycles and payments for products. Companies that provide subscription services and product shipping often use this feature.
Schedules come in two types: Revenue schedule and Quantity Schedule. This post will focus on what quantity schedule is, and how it helps users in their business processes.
Definition of Quantity Schedule
A quantity schedule contains information about a product’s shipping details. It outlines the dates, number of product units, and number of installments needed for shipping or billing a specific product. Quantity schedules are often used alongside revenue schedules to ensure accurate monitoring of product movement.
Enabling Schedules in Salesforce
To use quantity schedules, the org administrator must enable the Schedules feature on the Salesforce platform. It’s done by navigating to the Product Schedule Settings. Simply tick the box corresponding to either Quantity or Revenue schedules, depending on which feature needs to be activated.
Who uses Quantity Schedules?
Companies engaged in selling products and shipping them to end-customers mostly benefit from using quantity schedules. Take for instance a magazine subscription company. They bill subscribers annually and deliver the products on a monthly basis. They can use quantity schedules to aid in monitoring the product units that need to be shipped and if there are any pending subscription payments that need to be settled first.
Benefits of using Quantity Schedules
Companies tend to lose sight of the payment schemes and product delivery cycles without a proper monitoring program. Hence, they get backorders and a large inventory amount as a consequence. Salesforce quantity schedules turn this around by enabling users to monitor product cycle movement and keep inventories streamlined. Quantity schedules make product inventories and shipping monitoring easier for the organization. Losses are then prevented and subscription services are kept organized.