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Retail Inventory Management Software Features

Retail Inventory Management Software Features

There are countless inventory management software programs available today, choosing the right application for your business can have a profound impact on efficiency and productivity. Understanding the different types of features that each option can provide, as well as the cost, recurring charges, scalability, and compatibility are imperative when making a choice. Before you consider purchasing any application that helps you manage and track stock levels, take a moment to check out the following advice.

Common features that are to be found on most of the programs designed to help businesses with their inventories include purchase order history, purchase order status, stock level tracking, and pricing tables. Depending upon which application is used, there may also be tools that involve serial number tracking, expiration date tracking, automatic reorder points, volume pricing tables, multiple location separation, and cost methods.

It is important that you consider what type of tools and features you would need, and not just today, but also in the future. If you want your business to grow, integrating advanced applications into various systems can ensure that you remain competitive.

The cost, and whether or not there are any recurring charges, are also factors that you will need to take into consideration. When it comes to the actual purchase price, you need to think about how long the application will be used for, so that you can work out the cost per year. It can be a mistake to try and seek out the cheapest program, as this may end up falling short of your expectations in terms of usability.

Before making any purchase, you need to understand if there will be any recurring charges, and if so what they are. For example, there may be annual license fees, a charge for technical assistance, and also an extra cost for upgrades. Be aware that the price for such extras can vary considerably between suppliers, you need to make sure you understand exactly what the total running costs would be.

If you already use a number of software programs in your business, the compatibility of a new inventory management application should not be overlooked. If you are not sure whether your current systems can be integrated alongside a new stock control module, the best option would be to consult an IT professional. If there was an issue with compatibility, the value of the new program would be decreased considerably, as information would not be able to flow automatically between systems.

Another important factor that should be analyzed is scalability. All businesses need to grow and develop to remain profitable in these times of a sluggish economy. Depending on the plans you have for your business, you need to ensure that the software you choose can match. For instance, if you believe that your stock levels will diversify and increase in number massively in the next eighteen months, the program you use needs to be able to handle the extra data load.

In summary, before investing in any inventory management software, you need to consider your current and future demands. With a detailed analysis of needs, you should be able to choose an application that can reduce costs and boost efficiency.

GoFrugal specializes in retail inventory management software, retail POS software, distribution, trac, mobile and retail supply chain management solutions. Our 24×7 customer response center supporting to all retail pos software customers – 10 lines available at +91 435 302 7900. For more information visit gofrugal.com

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Advantages & Disadvantages of Dividends

Advantages & Disadvantages of Dividends

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A dividend is a portion of a company’s profit that is paid out to the shareholders, commonly in cash or stock. For investors, dividends present a great way to get periodic payouts on a high-yield investment. However, like all types of investments, there are drawbacks to any plan that routinely pulls out money rather than continues increasing revenue.

Pros of Dividends

Dividends certainly do have a place within the financial world. They provide a way for investors to place a large amount of capital that can then be used as a source of income, since it regularly brings in money. When you choose dividends, you can look forward to:

Profit while retaining a stake in the company – Normally, a stockholder would have to sell his or her stock in order to profit from his or her investment in a company. Dividends allow investors to profit from their investment in the company without selling their stock. This means you can look forward to regular returns.

Short-term results and long-term opportunities – An investor can continue to receive dividend payments from the company as long as the investor continues to hold stock. This can lead to significant dividend payments for a long-term investment, even though you’re seeing results over a short-term time frame.

Visible indications of your investment’s security – A continued, increased dividend payout is considered to be a good indicator of a company’s continued success. This allows you to quantify your gains easily.

Cons of Dividends

Despite their benefits, dividends aren’t for everyone. Before you and your financial advisor decide on this course of action, you’ll want to consider the following:

Dividends are not universally available – The Board of Directors is responsible for deciding whether or not a dividend is to be paid out to its investors. However, even if a company makes a significant profit, it is under no obligation to pay a dividend.

Tax repercussions – Dividends are often criticized as being subject to double-taxation, as the company is taxed on its income and the individual shareholder is also subject to paying taxes on the dividend payout. In the United States, dividends are subject to a 15 percent dividend tax rate. This is higher than what you can expect to pay on other types of investment windfalls.

Making the Decision to Use Dividends

Before you decide whether or not dividend investing is right for you, talk with your financial advisor. While dividends can be a great way to see regular returns on your investment, you might find that your unique needs are better served with stocks, bonds, or other financial options.

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Questions? Email me at wesley@thewandwgroup.com and visit our website at http://www.thewandwgroup.com . New Money Talk is a weekly article focusing on retirement, personal finance, and estate planning.
Comments and questions are welcome, but because of the volume of email, personal responses are not always possible.

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Inventory Management Features HR Accounting CRM Custom Erp Software

Inventory Management Features HR Accounting CRM Custom Erp Software

Inventory Management Software : Features

Inventory forms one of the biggest investments in manufacturing and trading sectors. Huge capital blocked in inventory, inability to identify products, multiplicity of products, product freshness, order of arrival, guarantee/ warranty periods, handling and a host of related issues can confound any individual assigned the task of materials management. The solution lies in installing a software that will solve these problems and evolve a system for continuous operation and evaluation.

Inventory Management Software is an absolutely compatible and competent application to deal with inventory of several commercial and non-commercial industries such as Clothing, Electronics, Aeronautics, Mechanical, Medical, Hotel, Food, Stationery, Shoe, Retail Chains, Online Shopping Malls and other business. It handles invoicing, stock movement and customer details easily and rapidly via interactive, user friendly interface.

Inventory Management Software is extremely economical and a compliant package for all common window platforms like 98, NT, 2000, XP and Vista.

Key Features:

– Inexpensive, advanced and swift.

– Easy to configure and install

– Complies with all Windows operating systems.

Inventory Management Software is basically focused to derive stock balance, sales record, restore stock, goods record, goods category distribution, customer order records, invoice, price system, backup stock, reports customization, order processing, purchase order, pay orders and significantly reducing paper work. The application offers a broad and innovative inventory management resolution to synchronize items, stocks, cumulative productivity of stores, managing sufficient supplies by implanting modular classification of the entire process. Inventory management software is best suited to keep track of the records of sale, purchase and vendor prices of all the goods stocked in the system. Inventory package includes specific features like barcode reading for price identification, Multi-currency adoption to identified rates, reports generation for fast, precise analysis of goods, stock, quantity, prices, manufacturers, suppliers, vendors and sales. Expiry alert for various items, print preview option for flexible, multi-user compatibility, security with approvals and more.

Disadvantages :

Like every software inventory management software is not a total bundle of advantage. There are disadvantages too. For a small company the cost overrun of installing such software is very high. Barcode readers don’t come cheap. No data is reliable unless updations is made continuously. When a software company walks out replacement is a laborious process that includes training and recasting data. Nowadays updations is carried out on a dynamic basis with PCs, iPods and Androids which can be connected to the central unit. Despite these disadvantages the utility of inventory management software far outweighs these minor snags. The enormous quantity of inventory, the capital involved and the necessity to keep the supply- production- distribution channel alive is enough for any right thinking materials personnel to seek out and latch on to an inventory management software most appropriate to the performance of the company. inventory management software – Which software to install? This is not an easy question to answer. There is a plethora of such software’s available. Each one with its own tall claims. Information from industry sources and similar business. Ventures will be a right indicator. Besides there are reliable software consultants who can provide valuable and relevant data.

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Stock Control Software Is A Must For Small Businesses

Stock Control Software Is A Must For Small Businesses

If you operate a small business, then you might have thought that you don’t need all of the sophisticated tracking systems and software that all of the major retailers use every day. You may have thought that you want to keep your business simple and efficient, without spending a large sum of money to invest in a stock control system. However, this may be a decision that is costing you thousands of dollars per year in lost revenues and in customer frustration.

Perhaps you feel that stock inventory software is too complicated or unnecessary for small businesses. While this may have been true in the past, there have been some exciting new developments in the past few years. Today, more than 250,000 small businesses use stock control software in order to more easily manage their business. Let’s take a closer look at inventory software and whether or not it can help your business.

One of the primary benefits of good inventory software is that you will be able to keep your shelves stocked much easier. With a stock control system, all of your items will be identified with their own unique barcode. When you receive a delivery of new inventory, you will use laser barcode scanners to enter the newly arrived items into your database.

You will always know exactly how many units you currently have in stock for each particular product that you carry. Without a good system like this, your business is prone to running out of stock of items from time to time. Not only does this result in lost sales, but it also results in an unhappy customer who may think twice before coming back to your store.

While scanning all of your incoming items into your database is a crucial component of stock control software, the other most important aspect of this system is your POS or Point of Sale equipment. The latest inventory software includes many excellent products to meet all of your business needs.

You can have a fully modern and computerized cash register, and you can even use a wireless barcode scanner to checkout what your customers purchase. Every time you scan the barcode of an item with your cordless barcode scanner at the POS, it will be deducted from your inventory. When your inventory levels begin to get low for a certain product, then you will be alerted so that you can reorder it.

A good stock control software system can also help you to better manage other aspects of your business, such as the time that your employees work. Keeping track of time can be one of the most tedious aspects of running a business, but stock control software can make the process much easier and more efficient.

Stock control software is no longer just for large companies. You can now implement a modern system with excellent barcode scanners and the most up to date software. Start looking into getting this software for your business if you want to simplify it and increase your profits.

http://software.ezinemark.com/stock-control-software-is-a-must-for-small-businesses-16dd09dbcfa.html

EPOS Systems And Business Performance Go Hand in Hand

EPOS Systems And Business Performance Go Hand in Hand

The advent of latest technology has revolutionized all over the world. The modern age of information technology has also completely transformed the way retail businesses used to be managed before. The introduction of EPOS technology in retail industry is the sign of a new age in this industry with its diverse features used for business management and increasing business efficiency. This latest technology has made the several works of retail business entrepreneurs extremely easy and provided them complete peace of mind for administering and processing business processes. EPOS systems can help increase business performance in following ways.

EPOS systems have made the complex and tedious task of inventory management extremely easy and efficient. Manual handling of inventory stock is a really difficult job as stock managers had to manually count all products available in stock and also had to keep track of sold products and deduct them from products available in inventory. This manual process used to become even more complex with high percentage of probability of human errors which had a negative effect on the overall profitability of business as well. But thanks to EPOS technology which has automated the process of inventory management through its stock control system also known as EPOS Software. Latest technology used in EPOS systems not only keeps track of all products available in stock but also alerts inventory managers about minimum levels of products. This feature greatly helps in preventing inventory shortage problem. Also orders can be sent to concerned suppliers automatically preventing managers from the hassle of manually sending orders to a huge range of products to suppliers.

One of the biggest reasons that EPOS systems are extremely useful for retail business is their speed and accuracy which can never be achieved through human resources. This unmatched speed and accuracy of EPOS technology helps businesses improve their overall efficiency in several ways. Entries can be made in EPOS software quite rapidly and orders from customers can be processed with utmost speed and accuracy. This increases customer satisfaction on one hand and reduces business expenditures on the other hand by saving costs for daily wages allocated for human resources used for managing those processes.

EPOS systems not only assist in improving business performance but that improved efficiency can also be monitored and measured through the use of this state of the art technology. This great feature helps manager and owners identify that which products are more profitable for their business and investment in which sector of business can be profitable for business in the long run. All the information obtained from reports generated from EPOS systems can further be used for formulating and implementing various growth and marketing strategies. Success of business growth strategies can also be measured and necessary amendments can be made as well.

Last but not the least, EPOS systems also help greatly in price management of products. Decisions regarding increase or decrease in prices of different products can be taken and their effects on profitability of business can be analysed through this latest technology which was never possible with traditional and manual cash register system.

E-Till Solutions specializes in offering customized and most affordable Pharmacy EPOS Systems, dry cleaners point of sales Systems and Restaurant POS Systems in UK.

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Inventory Management Florida Keeping Your Customers Happy in Florida

Inventory Management Florida Keeping Your Customers Happy in Florida

Retail and wholesale organizations based in Miami or Jacksonville, FL have clients all over the world to keep happy. In some cases, the local Miami retail merchants need to always have their most popular products in stock to make sure that their clients always come back for more. The wholesale suppliers in Jacksonville have online and catalog sales clients that require products to be in stock at all times. If you cannot keep your customers happy, then they will find someplace else to go buy products. That is why an inventory management Florida solution is extremely important to the success of any sales organization.

One of the most immediate benefits of a good inventory management Florida system is the ability to see what products are in stock in real time. When a customer places an order online, it is good to know that you will be able to ship that product from your Fort Lauderdale location and get the product to the customer immediately. When you have a sale in your Tallahassee retail store, it is a good idea to make sure that you have plenty of inventory on hand to satisfy the customers that will be on-hand looking to buy product. With a good inventory system, you can see what products you have and let customers know if their orders will be satisfied or not.

If you use the inventory software Florida businesses have come to rely on, then you will also be able to project inventory needs and place orders before you run out of product. There is nothing more frustrating to a client than to place an order only to find out that the product has been backordered. When you use your software to develop inventory projections, then you can develop a regular supply schedule with your vendors that will insure that you always have product on the shelves. It can also help you to determine if you need secondary suppliers for your more popular products.

Inventory software Florida companies use will help your organization to track purchase orders and reduce the amount of inventory that you have on hand. When you have fewer products on hand, then you are tying up less of your money in inventory. A good inventory projection program will help you to make sure that you always have what you need in stock, but you are also not going to put thousands of dollars into inventory that will not generate you any profit.

Visit http://www.ssyh.com today for more information regarding why SSYH is considered one of the top providers of inventory management Florida. As one of the premier inventory software Florida companies, SSYH continues to provide its customers with unparalleled products and services.

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Major Benefits of Inventory software

Major Benefits of Inventory software

We can define Inventory in this way that It is a list of goods in stock & also can define as a total amount of materials in a unit/store or a warehouse. Inventory management is the process of management of Inventories in a list of material in stock. It is developed specially to meet the requirements of small & medium sized businesses such as Computer stores, cell phone stores, medical stores, book stores, shoe stores, retail stores, online shopping malls or home business etc. It is easy to install & simple for use for warehouse management or Store management etc. This software can generate billing copy, Invoice copy, quotations. And also do inventory control like invoice management, stock management, Materials category management etc. It can also manage records related to your business such as sales orders, customer orders records etc.

Maintaining and organizing your warehouse inventory can be an overwhelming task at time. Inventory control comes down to a number of factors such as: maintaining and organizing inventory of your store, managing your inbound and outgoing shipments details or stock, records/data collection & managing, your goods or materials billing and communications between your customers and suppliers. Effective Inventory management software will minimize the complexities involved in the planning or executing and controlling of your supply chain which is absolutely critical & when it comes to maximizing your profits and your success.

We can Give much more value to our organization by using true inventory management software:

Benefits of Inventory software:

Complete supply chain visibility- when you use fully optimized, inventory software provides completely actionable information regarding both inbound and outbound shipments of product flows – as well as ability to drill down into details if needed.

Quality management – It Identifies & tracks the various issues that could occur and through report & analytics, It also provide guidance regarding to the factors impacting our quality.

Cost management – By managing your stock requirements, and by increasing your inventory turns you can manage existing cost & shelf space to improve margins. It is one of the main advantages of using this software; you will cut some of the costs for your business by reducing the wastage of products that you’re selling or offering to your customers.

Efficiency and customer service – By using the Inventory software we can reduce the amount of time to manage your stock, process of shipments, and also provide best services to our customer.

The author has been writing news, Article, Blog for a long time in software industry, now he is sharing his views about Inventory Software applications in small and large business areas.

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Vital Information about Small Business Inventory Management Software

Vital Information about Small Business Inventory Management Software

When it comes to managing the inventory of an organization, the people involved in the entire process undergo through a nightmarish experience. It is a common knowledge that success of any type of business is determined by the effective management in the department of resources. Under these situations, the small businesses do not refrain from making use of small business inventory management software. Small business inventory management software is appreciated for the benefits it provides to the business model. One survey has found that small businesses who neglect its importance generally fail to manage their inventory effectively. Poor recording practices are the sole reason behind their failure. However, with availability of small business inventory management software, these failures can be curbed to a great extent. Careless invoicing and stock depletion are two such events that often lead of massive loss to the business. Under this situation, adopting the small business inventory software appears to be the only viable solution. This software has been hailed by the financial experts on one count. It is presence of amazing features that gives the much needed helping hand inventory management. For instance, stock level monitoring, item cost tracking, serial number generation, barcode scanning, etc. are some of the features that users find very helpful. It is especially beneficial in displaying vital information such as item location, sales tax and product sales history. People, who are associated with the inventory, appreciate its benefits when it comes to tracking purchase orders, receiving goods and paying taxes on the goods. The software gives them the liberty to programme it in such a manner that automatic preparation of purchase orders becomes possible. Similarly, it is helpful in tracking sales quantities, sales price, good returns, invoices, customer information, sales tax, shipping cost, payment method, etc. Once this information are available, preparing various reports such as sales tax report, outstanding orders report, customer-wise reports, etc. becomes lot easier.Careless invoicing and stock depletion are two such events that often lead of massive loss to the business. Under this situation, adopting the small business inventory software appears to be the only viable solution. This software has been hailed by the financial experts on one count. It is presence of amazing features that gives the much needed helping hand inventory management.

http://inventory.ezinemark.com/vital-information-about-small-business-inventory-management-software-7d35834e6fab.html

POS Software for Inventory Management of your Business

POS Software for Inventory Management of your Business

Integrated web-based software package, with touchscreen interface and scanning device, speeds up checkout process at the cash counter. Every scanned item is automatically deducted from the database of inventory. It also allows you to take a printout of the inventory to keep and crosscheck its proper records. It is said that management and control of inventory form a major chunk of the POS system.

The selling price of the items is saved categorically in the computer and this helps the software system to automatically designate the price while scanning the item. This method helps in the quick and exact calculation of the items purchased by the customers. Secured data backup in this process also helps in the prevention of pilferage. Simultaneously, it also monitors employees and tracks the number of customers visiting a restaurant or retail shop within a particular timespan.

For the successful operation of the point-of-sale system, it is imperative that all its peripheral functions also work properly. Hence, it is always advisable to maintain a compatible set of hardware systems including barcode scanner, printer, magnetic card reader, data capturing unit, etc. for the proper functioning of the whole sales operations.

One important point worth mentioning is that you should always buy pos software from a recognized company that helps you give better customer service and trains your staff for gaining maximum benefits. Again, one should never get swayed by the open source POS products available online as most of them are just basic software and you will need to purchase extra-features to fulfill your business needs.

Apparently, it might seem that your point-of-sale system is only assisting in the sales operations of your business. However, once you implement the software in the functioning of your daily business affairs you will start realizing its other major functions including inventory control over fast and slow moving stock, proper gauging of inventory reorder level, easy checkouts and enhanced customer satisfaction. In fact such is the emphasis of POS software on the inventory control of the business that it has been given equal stature of that of inventory management software, the one with more or less similar functions.

Remember, if your business revenues are shrinking not one but multiple reasons could be held responsible. Stock pilferage, unrecorded sales, under/over pricing of the stock, selling stock at incorrect price, etc. are some of the major reasons that work as deterrent in increasing your business profits.

On the other hand, POS software tracks your inventory and accurately marks the items out of the inventory as soon they are sold. Thus, the whole process tracks the transaction loopholes to ensure that inventory matches the tallies year after year without any hindrances for increasing profits.

The article is written by Prakash Singh Chauhan who is an Executive Director of Swadesh Softwares Pvt. Ltd. He holds a Bachelor’s degree from Jai Prakash University and has vast knowledge in POS software .

http://www.sooperarticles.com/technology-articles/software-articles/pos-software-inventory-management-your-business-1328872.html

What is Inventory Control

What is Inventory Control

Inventory control is an integral part in every business. There is no business that exists without inventory. Even the micro enterprises that are flourishing in every economy has to have an stock control in their system. If you are a micro enterprise, probably you don’t have a POS system that can help you keep track of your business dealings. But sooner or later you if you manage your business really well, you will have to invest in a POS system to help you run your business smoothly.

However big or small your business is, you still must have some sort of inventory control to help you with your inventory. If you are still a budding entrepreneur and you don’t have any idea what to do first, then you must be aware of FIFO. FIFO or First In First Out is a great way to handle stock control. This is especially true if you are in the kind of business that has a lot of perishables.

Take for example the food business. You have your own suppliers and they will deliver what you order. FIFO will always be the best way to go because as deliveries begin to pile up, if you don’t have inventory control you will not be able to keep track of what you have in your stocks and when those stocks were delivered. Not keeping track means that there will be a lot of waste in your inventory because as these are perishables, they have expiration dates. A lot of waste in your stocks mean a lot of waste in your sales as well.

The FIFO system can help you in your stock control and forms a great part in your accounting as well. Your finance officers will also use this kind of system in keeping tabs on which supplier to pay first. This is especially true if you have already built a good relationship with your suppliers and they have already trusted you enough to give you a credit line. Payments will be made according to who delivered what supplies first. This is not complicated especially if you have a POS system that can help you keep tabs on this.

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