You can set a limit on the item category to notify your organization's purchaser of the item's low quantity status. Users turn on this feature from the item category by clicking the "Low Count Options" button. Then, the purchaser's email must be set along with the limit to trigger to alert.
Once you set the limit on the item category, you can click on the reports tab and select the "Low Inventory Items" report. This report will email the person responsible for purchasing these items to inform them that they need restocking. This feature only accounts for when items are completely removed from the inventory, and alerts will not be sent out in cases where all items are out for rental.
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