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Tips to Manage Inventory

Tips to Manage Inventory

Do you have difficulty in managing inventory? Don’t you manage to track the goods you are buying and selling after that? Aren’t you aware which time to order items, or are you unable to maintain your stock in safe condition? The following tips may be helpful for you.

 

1. Keep track: This is the most important task in order to manage your inventory. You need to keep records in a systematic manner. If you do not have an account of your sales volume, as well as your current stock level, you will never know when and how much to reorder. It is recommended that you keep an ordering period, that is, a time frame after which you will make your next order. Your tracking should be based on this unit of time. You can track each item in the following manner:

 

• Average Sales: How many articles do you think you will sell during a particular time frame (ordering period)?

• Maximum Sales: What is the maximum quantity that you think you will sell?

• Bulk Order Quantity: How many articles do you need to order in bulk at one time?

• Order Lead Time: From the day you have placed the order, what is the time taken to receive the shipment?

• Quantity On Hand: How many articles do you presently have in stock?

• Quantity On Order: How many articles have you presently ordered for?

 

The above data can be stored on an Excel sheet and constantly updated. So, instead of clearing up items that you now consider as junk, it is better to be organized.

 

2. When to Order: Once you are aware of how many items you have in stock, and which items are running out, you need to know when to make a reorder. First, decide on the ordering period, that is, after how long you will make a reorder. It could be weekly, monthly, or bi-monthly. You should ensure that you maintain a minimum stock level at the end of the present ordering period, which is enough to carry you through till the next ordering period.

 

How do you know it is time to reorder?

Add the quantity of items that you already have (Quantity on Hand) to the amount that you have ordered for (Quantity on Order), which is temporarily called Quantity Available.

 

Now, you will still be selling until the fresh stock arrives, so subtract the Lead Time Sales from the Quantity Available. If this amount is less than the minimum stocking level (Time Lead Sales minus the Safety Quantity), it implies that you have to reorder. This final amount is termed as Quantity Available.

 

How do you know how much to order?

Subtract the Quantity Available from the minimum stock level.

 

Take a note of few terms related to stocking:

• Safety Quantity: Average Sales is subtracted from Maximum Sales. This quantity is the minimum quantity of items that you have when there is more sales than the usual amount.
• Time Lead Sales: The Average Sales multiplied by the Order Lead Time.

 

3. Quantity on Hand: It is always recommended that you physically check your inventory just to ensure that the data in your software matches up to what is really there. This allows you to make adjustments in the case of unexpected losses, which can happen owing to theft or breakage. If these losses are not accounted for, keeping track using your software will be futile.

 

Note that if your ordering period is long, you need to have enough inventory in stock. However, be sure that there is not too much inventory for fear of the products perishing or crossing their expiration date. Besides, you will be investing more capital and covering insurance and management costs.

 

4. Sell Junk: One way to get rid of inventory that you feel is junk is to sell it to a vendor. You will not only be clearing out unwanted stock, but you will also not suffer a complete loss.

 

5. First In, First Out: If you are selling products that have an expiration date, it is recommended that you clear the older stock first. In other words, put the items that have a later expiration date behind the ones that will expire shortly.

 

6. Security: Ensure to keep your inventory safe from staff members as well as outside intruders. Stock that is more valuable than others need extra security and should be delivered to a safe place. Make sure that your staff is trained to look out for thieves, who usually work in groups.

http://stock.ezinemark.com/tips-to-manage-inventory-51458034460.html

EPOS System for Retail and Wholesale Business

EPOS System for Retail and Wholesale Business

Epos system is dire need of hour for retail and wholeslae business as these businesses demand high level of accuracy and integration if one got good combination of hard ware and soft ware of Epos system as per their needs as every business has completely different set of requirements.

As retail and wholesale business want each dark detail of stock and accounts it is made possible by present day Epos systems no matter what are the number of transaction it can record and keep million of transactions in a one go in its back office. As products are bought in bulk quantity and sold in one by one it keep the record of stock and accounts as well. It gives you accurate pricing that eliminates the chances of human error in lieu of it gives you the freedom that you can changes the prices whenever you want e.g. to a discount to customer or when there is special promotion going on.

It gives you accurate picture of your stock and make sure you get your ordering on right time. Having an automated functionality it makes life easier and you can respond to customer faster. It helps you to give your customers a great experience and improves employee’s productivity. So it allows you to keep stock information up-to-date in real-time stream line the supply chain. The Epos system automatically determine when you have to place the order

The competitive advantage of Epos system is that you can be in the position of bargaining that which supplier is giving to you the same product at cheaper rates and you can be in touch with largest suppliers. So you can save money at the end of day which increases your profits.

In the past whole sale business were being ignored by Epos providers there was a helpless situation in the market for whole sale business companies only few companies were able to develop Epos system with back office support to handle the accounts and stock. By developing this fantastic software now whole sale and retail businesses can serve the customers from any branch they are operating at any time. So more customers are coming and more sales are generated.

If we see current situation then there are few companies in the market which provide complete solution of the whole sale and retail business requirements the competition is developing in the market which ultimately bring the more refine Epos system.

E-Till Solutions specializes in offering customized and most affordable Pharmacy EPOS Systems, dry cleaning pos Systems and Restaurant EPOS Systems in UK.

http://www.sooperarticles.com/business-articles/management-articles/epos-system-retail-wholesale-business-1107031.html

Inventory Management Software(2)

Inventory Management Software

When searching for inventory management software which stands head and shoulders above all market competitors it is crucial that you ensure that it is affordable, resourceful and dependable. There are so many facets of inventory management software that it is really important to guarantee that all bases are covered and no stone is left unturned in your aim to secure inventory management software which is beneficial and productive. It is imperative that inventory management software does not break down and malfunction unexpectedly as this is so disappointing and frustrating. If you are in doubt as to where to go to in order to secure inventory management software which is second to none then there is no one better equipped than warehouse-management.co.uk.

Our fantastic inventory management software is ideal if you are looking for a simple solution to stock control problems. Inventory Management Software helps you stay on top of things and keep organised and well-prepared. You will overcome even the most insurmountable of objects with ease and carry out complex tasks with efficiency and competency with this inventory management software as it is so reliable and rewarding. We pride ourselves on our exceptional client services and committed, customer focused approach when it comes to inventory management software and are happy to share our wealth of knowledge and expertise with you if you have any reservations or queries regarding inventory management software that need answering straightaway.

If you need to tweak or adjust inventory management software then that is absolutely no problem at all; we are always on hand to help! Our team of seasoned specialists are so well versed in all aspects of inventory management software and really know what we are doing. Inventory management software does not get any better than this! You can take orders on the move and keep a note of where they are with inventory management software and it is so accurate, precise and exacting. Your working life has never been so smooth running. Profits will increase radically and your clientele will expand dramatically if you take advantage of our unbeatable inventory management software solutions. It doesn’t matter if you are a small, family run unit or a large, well known corporation; inventory management software is all encompassing and is a useful and valuable device no matter how large or small your office, warehouse or point of sale is.

Cost effective inventory management software from http://www.warehouse-management.co.uk is in such high demand at the moment as it makes time consuming duties so much quicker and is so structured and ordered. This Stock Control System keeps things ticking along nicely and you will reap the rewards straightaway.

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Packhouse software for traceability and stock control

Packhouse software for traceability and stock control

Create a new level of efficiency with the Packhouse Manager Software solution. Improve Packhouse traceability & productivity in your fruit & vegetable packhouse with Packhouse Manager Software. Packhouse Manager gives the Packhouse rapid improvements from increased profitability and traceability and increased profit. Supports the Produce Traceability Initiative, BRC, GlobalGAP, GS1 traceability standard and more.

Farm Manager & Packhouse Manager Software provides a powerful suite of Packhouse management software solutions which make every day Packing of fruit and vegetables easier and more profitable for all Packhouses; whilst allowing you to maintain higher quality, staff performance, cost control, and traceability levels.

The primary focus of the Packhouse Management system is to improve Packhouse:

•Business control

•Traceability practices

•Business profit enhancement

•Cost management and control

•Budget management

•Staff accountability and management practices

For fruit and vegetable packing enterprises; Farm Manager & Packhouse Manager Software provides a powerful suite of software solutions which make every day fruit packing and vegetable packing business easier and more profitable – whilst allowing you to maintain higher quality control over fruit and vegetable packing, staff performance, cost control, and traceability levels. Farm Manager & Packhouse Manager Software Fruit and Vegetable packing solutions are available in customizable modules; so your fruit packing business can choose the modules required for your needs.

The primary focus of the packhouse solution is to improve:

•Packhouse quality control for fruit and vegetable packing

•Packhouse traceability & stock handling traceability

•Business profit enhancement

•Cost management and control

•Staff accountability and labor management practices

•Minimize labor costs in the fruit and vegetable packing processes

•Your business will benefit! Fruit Packing Made Easy!

•Improved packhouse profit in most areas of business

•Improve packhouse staff efficiency

•Reduce duplication & redundancy in the packhouse

•Decrease management response time in packhouse operations

•Improve reporting, analysis, and packhouse monitoring

•Instant packhouse cost reporting, live at any time!

•Streamline & automatically manage packhouse processes

•Enforce packhouse operational standards

•Create full traceability of all produce handling in all packhouse areas

•Compliance with EurepGAP, HACCP, EFSA ISO x, FarmSafe and others

•Easy packhouse audits and packhouse traceability management

•Feature Summary Vegetable Packing Made Easy!

•Issue barcode labels for incoming fruit/vegetables to ensure traceability

•Management of stock and full traceability during the packing process, including stock location, tracking, treatments and more…

•Capture pricing, weight, supplier, temperature and other information during the stock incoming process

•Batch based processing ensures high levels of traceability

•Labor management and packing labor costs reporting by batch, supplier (grower), and packing benchmark and performance reporting

•Record and manage customer purchase orders

•Analysis of packer & staff performance, tools to identify areas of waste and areas where staff need retraining

•Manage dispatch process, generate invoices, generate dispatch and transport documentation

•Integrate with financial packages

•Integrate with payroll packages

Comprehensive quality control available for incoming stock processed and packed stock, outgoing finished produce, packhouse hygiene quality control and more. Extensive quality reporting systems

Comprehensive inventory management to improve resource utilization and reduce waste includes traceability for inventory batches and integrates automatically with recall and traceability systems. Purchase Order generation, stock takes for multiple sites and depots, inventory intake traceability, inter-company purchase orders and inventory acquisition processes

PC Interface as well as optional Mobile Packhouse Software which allows staff to perform Quality Control, Stock Intake barcode scanning, stock movement and storage management, stock allocation to batches, view customer sales orders, perform consignment and scan pallets during dispatch process to ensure correct assignment of stock to each customer

Farm Software provides a powerful suite of Packhouse software solutions which make every day Packing of fruit and vegetables easier and more profitable for all Packhouses – whilst allowing you to maintain higher quality, staff performance, cost control, and traceability levels.

http://farmsoftware.articlealley.com/packhouse-software-for-traceability-and-stock-control-1917670.html

What You Need to Know About Inventory Management System

What You Need to Know About Inventory Management System

We know how valuable inventory is to every operation. It matters a lot from small to big businesses, and the fact that it is also hard to control and manage is certainly undeniable. If you have a manufacturing business, supply chain or a fast food shop, then you know how factors such as pilferage, administrative errors, physical damage and expiration of items can eat away your inventory. It can even greatly hamper the profit and affect the overall system of a company.

Your products are one of the most significant assets of your business. Assuring that your organization has proper stock of goods and a system that can manage all your merchandise correctly can make a huge difference in making the sale. From the manufacturing to the point of sale, the need for a sustainable inventory solution can reassure every company that there are enough products to sell for customers while managing the control of every resource.

Setting up an inventory management system can help you make the most of inventory by keeping costs under control.

What are its Features?

For Inventory Control and Warehouse

Makes inventory process faster as they are fully automated.Easy tracking of assets with check-in/ check-out system.Managing of asset costs from merchandise to stocks with precise counting.Provides various alternatives to track all assets including supplier, client information, count of merchandise, account numbers, sales and more.Manage multiple inventories at the same time and being able to view real time records.Lower inventory loss and increase sales and operational efficienciesEnhance customer satisfaction levels with availability of productsIncrease product marginsGain control on replenishment of stocks while managing overstocks

For Purchasing Department

Modernize requisition procedure and enhance faster communication with vendors with Inventory Management Solution that can record transaction, reordering dates and other relevant informationEradicate inefficiency with online purchasingEasily identify costs, loss and profits. Avoids manual errors done in purchasing, receiving and other accounting records. -For Manufacturing Division -Offers contemporary solution of managing correct orders. Manufacturing sector can now seamlessly work with back office divisions. -For Demand Planning -Accurately give data for reordering of stocks based on sales and historical dataAutomatically compute supply plan for the organization -What are its Benefits?

Offer real-time data of demands, supply, costs, profits and trends in an operationReduce manual inventory. Makes work faster and avoids manual error or computations.Managing margins with complete data to cost of inventory and revenues.It can satisfy the demands of any industry for inventory and purchasingMeet your customer’s demands and help improve customer serviceEnhance relationships with clients, vendors, and partners in the business

I have been writing for many years now. In fact my work had already appeared in various books and websites. Today I featured what you need to know about Inventory Management System so people will be aware of the importance and its applications for businesses.

http://www.sooperarticles.com/business-articles/project-management-articles/what-you-need-know-about-inventory-management-system-1072220.html

How EPOS Software Help Businesses Run Better

How EPOS Software Help Businesses Run Better

A large number of business organizations looking to buy EPOS systems mostly consider specifications of EPOS hardware, devices and prices along with some other factors but EPOS software is probably one of the most important factors to be considered while planning to purchase an electronic point of sales system. An EPOS system no matter how much sophisticated and expensive, cannot be said as an efficient system unless that system has an EPOS software offering all those features and services required by a particular business. EPOS software are though a new replacement for traditional cash registers but these software have made a significantly positive effect on the efficiency and effectiveness of businesses. EPOS software has provided several features in providing peace of mind to business manager and owners in managing several business processes and some of them are as follows:-

Probably the biggest convenience which businesses have experienced due to the introduction of EPOS software is efficiency and ease in stock management and control. Inventory status can be easily checked and updated with the help of EPOS software. Also stock status can be integrated with point of sales at store or head office which helps automatically reducing sold products instantly from stock. Also inventory can be monitored in a much better way and pricing of products available in stock can be updated. This software also has capability to update sales and stocks status from online and mail order business transactions.

Performing business operations with utmost speed and accuracy is something which offers any business a strong competitive edge over its competitors in its business niche. Most of the businesses suffer costs annually due to human errors of their management and employees. EPOS software also assists a lot in minimizing human errors as calculations are made automatically. Also EPOS systems with touch screen features also reduce probability of errors to a significant extent as operators have to directly touch at the images without any need to remember correct keys for a command. All these hardware and software features combined not only make it possible to process customer’s orders with much more accuracy and speed.

EPOS software is also extremely helping in offering better customer services. EPOS software offers all those features required for increasing customer satisfaction for your business. Customers can send their online which can be quickly sent to the concerned staff, different queries of customers can be replied. EPOS systems can be effectively used to impress new customers with your excellent services supported by state of the art technology which consequently results in more customers and hence more sales for your business.

E-Till Solutions specializes in offering customized and most affordable pharmacy software Systems, dry cleaner software Systems and Restaurant EPOS Systems in UK.

http://www.sooperarticles.com/business-articles/management-articles/how-epos-software-help-businesses-run-better-1092412.html

The best way to search An Easy POS System

The best way to search An Easy POS System

With this program you’re able to management purchasing, client monitoring, stock, and far more. Having a retail store POS Edmonton, or a retail store POS Systems is usually the same technique. You’re able to monitor them down much simpler.

We’ve come a long way with funds signs up and the whole retail store program. With the automated program that they have these days, they can management stock and information better than before by studying how to make use of retail store POS Systems. It is a program that makes day to day revenue simpler to deal with.

The pos system was expensive, but with the innovative technological innovation, it is now available much more cost-effective than ever. The simplest program will have a card audience, as well as a sign-up.

Don’t be terrified to change the way you function your company. One time you generate the first step by purchasing it, all you require to do is figure out how to set it up. There is no requiring to practice in this program because it is so simple. Adhere to the simple guidelines.

Owning a company these days is challenging. By having the appropriate program to make your company not as challenging to deal with can be a life saver. This is why it is important to understand how to work a POS Systems. In the event you own a little or a large company, one time you have this program not only does it manages your revenue and stock, but can also generate your revenue go higher. Understand to make use of it effectively and then educate it to the staff. You are all set to start a simpler way to run your company.

The pos display has lots of features for you to understand so you can increase your information. By using this program, your can have your stock much more managed and will cease you from either being overstock or under stock.

Lots of shops are using the POS Systems. It comes complete with an audience that flows bar requirements. This way you manage errors done by people. If you are an entrepreneur and is looking for a way to generate their company better, call now and find out how to buy a POS Systems.

First you will manage the stock the best way. Stock sometimes is not simple to deal with seeing that items offer out as quickly as purchasing them, or they stay on the display gathering dirt. With this program, you will be purchasing only exactly what you require, based on your everyday revenue. It can also select the selling done before.

A POS Systems or lots of times known as point-of-sale are an amazing way to procedure expenses instantly using a system. This is a huge comfort for not only the entrepreneurs but the clients allowing them to pay for their food and food with a charge or bank cards. This creates life a bit simpler for making a transaction while still providing the choice since a few years before money was mostly the only option available.

You can buy the POS systems and then set up it on your current computer.

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The essence of inventory management for a contemporary organization

The essence of inventory management for a contemporary organization

The practice is needed as a part of supply chain network to protect the production system against any kind of disturbance. Moreover, it also prevents the system from running out of stock, materials and goods. Fundamentally, inventory handling focuses on asset management, replenishment lead time, inventory forecasting, inventory valuation, inventory carrying cost, forecast of future asset management prices, inventory visibility, physical inventory and the space available for its accommodation, demand forecasting as well as return of defective goods.

 

The primary objective of inventory handling is to strike a balance between the contending requirements for attaining optimum inventory levels. Since the process is continuous, it demands a shift from business needs. This also helps in accommodating the needs of larger environment. Inventory handling tries to maintain an extensive collection of merchandise. In addition, the practice also helps in controlling issues like shipping, ordering and handling materials. Moreover, the material management and tracking aspects of inventory handling also incorporate feature like supervision of materials which are moved in or out of warehouses and reconciliation of inventory balances. Other areas of inventory management include lot tracking and cycle counting support.

 

No matter what is the nature or size of your business, inventory management always offers a competitive edge. Since the practice ensures goal fulfillment, visibility and efficient management, it allows comparative pricing on a customer-to-customer basis. In addition, inventory management helps business owners in making strategic decisions about the kind of inventory that must be carried for accommodating inventory management processes.

 

Not only does inventory management increase the number of satisfied customers for an organization, but also aims at reducing the operating costs. Moreover, inventory handling facilitates the management of a business with inventory standards as well as costs. Companies operating in processing and manufacturing industries need complicated as well as simplified processes of management control. Inventory management helps in streamlining such concerns through efficient distribution as well as compliance for improvement of software and other procedures.

 

Last but not the least, inventory handling also helps in establishing a replenishment strategy for various items present in warehouses. Moreover, it also outlines specified guidelines by controlling ongoing dead stock and excess inventory. In a nutshell, it would not be unfair to state that inventory management imparts a strategic competitive advantage to businesses by providing a user-friendly stock analysis tool that offers prompt information.

http://inventory.ezinemark.com/the-essence-of-inventory-management-for-a-contemporary-organization-168d6bec31b.html

A variety of Business Stock Images

A variety of Business Stock Images

Nowadays, business has truly expanded its horizons in the global arena. So, one can easily think of investing in any of the business activity. But as we look back, 20 years ago people were worried and anxious to invest a huge amount in any business. Since then, lot of things have been changed now, people are much more confident to invest in businesses plentifully. In today’s scenario, business is no longer perceived as the drones that sit across telephone lines, faking accents to get you to pay your dues rather it is termed as management and decision making.

The value of any feature can be improved and enhanced by putting up a suitable image to it. However, it is very tiresome job to find out an image that compliments your article. Mostly, if you are working on any business related topics and themes; you may not able to search the correct kind of pictures. Mainly, a business based magazine wrap all the aspects that connect the day to day activities at workplace. At times, management based problems can also be raised. One major problem that occurs is that it might be a problematic task to find out an exact image that matches the story. Here, the length of the write-up plays an important role. Moreover, you may find a right image, but its size may not be according to the dimension of the write-ups and the space provided.

The inflating growth in businesses is due to the media passion and enthusiasm. Furthermore, the kind that resounds across brands, products and services. Having only a healthy and vigorous distribution system is just not enough, you need advertising, customer care-lines, CRM initiatives, below the line(BTL) activities, you need advertising agencies, Public Relation (PR) agencies, Digital Media agencies for building an image for your brand or product. That is why today, it is the image that attracts consumers to a certain product, brand or service. They need to belong to a certain perception of the good life and the brands they respond to are the ones they feel most emotionally close to. This is why it is crucial to have your visual communication in place as much as your brand communication. The images your agencies choose to pan out your media campaign will go on to become the way your brand or service looks. Therefore, it is always advisable to choose carefully, it is not easy to forget what one has seen and it is easy to forget what one may have read or heard.

This is where the business stock images come into the picture. They are ready to use images, customized to the finest details and available for purchase round the clock. Moreover, it proves be helpful in finding the accurate images for the write-ups at a nominal price. Generally, the images on this gallery are divided into categories and sub-categories wherein the writers can easily look for the suitable ones. Lastly, you need to purchase your selected business stock images. Largely, these online websites are user friendly so, you can simply shop for the varieties of business images. You do not require worrying about the royalty of images as you can easily gain a stock of royalty-free images on these websites.

So, if you have something to tell the world, you don’t just have to say it, you can say with an appropriate image to create a lasting impression.

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Becoming Profitable Via a Present Day POS System

Becoming Profitable Via a Present Day POS System

Just go into a store, any outlet, and in all probability you will discover one kind of POS system. Pay a visit to any retailer in every nation, and you will then almost certainly find the staff or even the management employees using these devices to accomplish a lot of things, like stamping receipts or receiving cash from merchandise revenues. Presently, point of sale systems are used a great deal and are so common, it’s tough to visualize life without one. These systems are in fact the lifeblood of the majority of retail firms, and along with the many attributes and gains they provide you can actually see why people all over the world put money into point of sale systems that include state-of-art hardware and POS software.

It is actually difficult to believe that the present day point of sale system got its start with the creation of the simple cash register. The cash register was introduced by an American known as James Ritty in 1879, who according to the National Museum of American History got his idea after “seeing a tool that counted the revolutions made by the propeller of a steamship.” After more than a century later, his innovation is currently a staple in just about every retail business all over the world.

Today, the cash register is just a small part of a regular POS system. Currently, today’s point of sale system includes a cash register, plus the software and hardware the point of sale system utilizes.

Popular features of a POS system

Many individuals have come to adapt to POS systems since these systems offer you a whole collection of different operations and positive aspects for decision makers in addition to their employees. To start, a contemporary point of sale system involves the main point of sale. A point of sale could be identified being the specific point or spot found in a store where a business deal happens. Here, this is the cash register or terminal.

Another critical characteristic of many contemporary point of sale systems is their capacity to precisely check a retail business’ stock volumes, not just in one retail store, but in each one of its franchises. This capacity to assess stock volumes precisely would mean an enterprise owner along with his workers are able to enhance stock volumes and make sure any particular sought-after item is often on stock.

This too will mean that an organization can prevent the regular warehousing and logistical nightmares which come about when a minor error is produced in retail stock inventory.

Today’s point of sale systems is employed to come up with accurate and precise business intelligence through sales reports and other pertinent sales info. From this business intelligence, modern POS systems might also generate marketing and loyalty programs that can target specific markets. They might be employed to create discount cards, loyalty vouchers, and the sort.

Finally, today’s POS system is also easily accessed simply by using a web-based tool since these systems usually use cloud-based technology and are housed in powerful centrally-managed data servers. No cumbersome installation required, and any software updates are installed directly to the servers themselves.

Christina was once employed as being a cashier at a retail store however right now owns a retail business, and knows how to work an up to date pos system in conjunction with pos software.

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