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|Posted: Thu Nov 08, 2018 7:45 am Post subject: ment and requirement bas
|For the average Pop-and-Mom store Dre Kirkpatrick Jersey , the inventory management meant either keeping a mental track of the inventory or keeping a small notebook with inventory figures updated on a daily basis. The hard work was (and still is) being done by the cash register with its built in inventory software. In some cases, having seen better times, the cash register and the dog-eared notebook were replaced with a bar code reader attached to a computer. For most grocery and small retail stores, the bar code reader and computer are as near to the 20th Century and artificial intelligence as they will ever get. Even this, in reality, is quite good because the most basic inventory management software is very sophisticated in its ability to not only keep a track of all stocks but automatically place restock orders or predict movement of stock based on historical data. In most cases it could even flag out expiredout dated stock.
In due course and often with availability of cheaper credit, business grew and more retail branches were added. The new growth however, brought an unexpected problem – inventory management. How does one get the exact stock position at any given point in time across multiple locations? How does one track movement of goods across multiple locations from a central point? How does one know which are the “fast moving” stocks at different locations or predict inventory requirement for each location? Multi-tasking is not something humans do efficiently and the complexities of tracking inventory across multiple locations were quite clearly beyond the capabilities of the humble, dog-eared stock register.
From a technology point of view, the common denominator was the internet. It therefore made perfect sense to load the software online and have each location access the online module. Loading it online also meant that the online retail or your web design Richmond VA also used the same software. This way the social media marketing Richmond could view the overall picture for the entire organization or for a particular location. The stock position was always accurate because the same database was accessed by all physical and virtual sale counters. The humble, dog-eared stock register was quickly replaced with the new sales & inventory management system. e Commerce Inventory Management uses the same set of principles.
What to expect from a Sales & Inventory Management System?
Modern Sales & Inventory management systems have been around for at least fifteen years and during this time, programmers kept adding sophisticated features so much so that it soon became all-encompassing and today, it can effectively assist the management in running the entire business enterprise irrespective of size. This new full featured avatar came to be known as Enterprise Resource Planning or ERP. This does not mean you have to go out and buy yourself an ERP package. Modern Non-ERP Inventory management systems may not have all the features of an ERP software, but is still very sophisticated and offers more features than can possibly used by most small to medium sized companies; so we won’t stray into ERP territory on this page.
At the very least, a good sales & inventory management system will provide you these features:
– Create and read product barcodes
– Accept different units of measurements
– Manage stock across different companies
– Manage stock at different warehouses
– Process, print, email and fax invoices, purchase orders and sales orders
– Receive and track stock movement up to point of utilization or sale
– Hold inventory required to execute sales orders
– Create, print, email, fax work orders
– Track all inventory related payments received and made
– Provide cost estimates and create quotes
– Permit multiple access level user accounts
– Predict stock moveced on historical records
– Predict stock requirements across all points of sale based on historical records
– Identify fast and slow moving stock
– Identify excess inventory
– Identify stocks which are fast approaching their sell-by date
– Identify expiry dated stocks
– Create user friendly graphs displaying stock movement
– Create and display custom reports
Whenever you enter a mall and see fabulous offers (usually buy-2-get-1-free or buy-1-get-1-free), look closely at the expiration or manufacture date. You will notice that all the items are either fast approaching their expiration date or have been manufactured more than a year ago meaning, the stock was lying unsold for the past year. Inventory management software accepts “triggers” on all stocks. So, based on the triggers that were set, stocks that are over a year old or fast approaching their sell-by date will automatically be flagged out and the management can devise sale offers.
RetailBizMD has been implementing Content Management Systems integrated with customized stock management features and shopping cart software designed for virtual and non-virtual business ventures. Talk to us today. We can custom develop a full scalable application for you.
Retailers who are on the hunt for e commerce web site solutions, which don’t have the time or know how to make the transition from retail to etail, let us help. We work with B2B businesses as well as richmond website design, but clearly retail to etail is our primary area of focus. If you are looking for seamless ecommerce web site solutions, contact us today.
Talk to us. RetailBizMD is one of the few companies that have all the skills (Inventory management systems, ecommerce web d
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