Stock Control Software
So often you talk to retailers who are struggling to manage and control their retail stock. The problems they are having with inventory are generally
• Damage
• Theft
• Inability to find where the stock is in the store or warehouse
• Unreliable stock level data
So what is the solution?
The solution is the right stock control software combined with disciplined procedures.
Recently I was working with some stores who complained about their new inventory software not allowing negative stock levels and requiring them to receive product before they could sell it. Their previous system had allowed them to sell product even if the stock control software was saying there was no inventory or the stock level was negative.
The point is, if you want to control your product levels then you need to have stock control software that forces you and your staff to follow the rules. The moment a system allows negative stock levels then you can no longer trust the system. A good stock/inventory control software ensures you have the tools to accurately manage your stock.
What are the key components of a good stock control software system?
A. Easy to use comprehensive product management tools
This includes flexible pricing, category/department classification, support for customer specific pricing and powerful re-pricing tools to make the management of your margins as simple as possible
B. Purchase order generation and management tools
Whether you have a small or large product range tools that show inventory that has hit re-order levels and other stock level and purchase order integration tools are vital in a good stock control software solution.
C. Incoming goods
Ability to select the linked purchase order, support for back orders and purchase order adjustments are all important. Another great feature in the PBSAPOS inventory control software solution was the ability to adjust the fixed retail price via the incoming goods screen. There also needs to be support for supplier returns.
D. Stock take and stock adjustments
As inventory is lost or damaged or moved between locations you need tools to make the stock adjustments to ensure your system remains accurate. In addition a simple to use stock take module is imperative in any good stock control software solution.
E. Stock Reports
It is imperative that you have reports on stock movement, stock sales margins, stock that needs re-ordering, stock take reports, stock that is expiring (vital for fresh produce stores) and stock that is not moving
These are just some of the important features you need to consider when you look at stock control software.
The other aspect is that no matter how good the stock management software it is the user who has to manage the system. This requires discipline. The software should not allow negative stock levels but it still requires the users to input stock adjustments, to input movement of stock between locations and incoming goods procedures to ensure that what was ordered actually arrived. This is your responsibility.
I wish you all the bets of success with managing your inventory through using the above details to evaluate your stock control software.
Subscribe