INVENTORY CONTROL

Inventory Management can help you track and control your inventory and minimize the need for physical inventory counts.

Having too much cash tied up in slow, or non-selling items or being under stocked on items needed by your customers can have a major impact on your business. With inventory Management you will always have complete information about the value of your inventory, quantities on hand, quantities committed and the flow of inventory items sold.

Precise control of inventory is an essential ingredient of a successful, well organized company. The goal of the Inventory Control Module is to provide timely accurate information pertaining to inventory location, movement and valuation, receipt of goods, the sale and return of goods and profit, at any time.

Merchandise purchases are a large part of total costs of a merchandising business. Therefore, an effective inventory system is needed to control merchandise inventory.

STORM + Accounting 5.0 accomplishes this in a number of ways:

Controlling Merchandise Inventory

Knowing the size of inventory to maintain requires frequent analysis of purchases, sale, and inventory records. Many businesses fail because too much or too little merchandise inventory is kept on hand, and sometimes the wrong merchandise is kept on hand. If the merchandise is not sold, the result is less revenue. In addition, greater expense results from storing merchandise that sells slowly.

 Merchandise Inventory Larger Than Needed

 Merchandise inventory that is larger than may needed decrease net income of a business for several reasons:

Store and warehouse space used by the unneeded part of inventory is expensive.
  • Part of the capital invested in excess inventory could be invested to better advantage in other assets.
  • Taxes and insurance premiums must be paid on excess merchandise inventory.
  • Excess merchandise may become obsolete.
Merchandise Inventory Smaller Than Needed

Inventory that is smaller than needed may decrease net income of a business for several reasons.

  • Sales will be lost to competitors if items wanted by customers are not on hand.
  • Sales will be lost if there is insufficient variety of merchandise that customers want
  • Merchandise reordered often and in small quantities cost more than if ordered in larger quantities.

 

Some of Inventory Management's Many Features Include.

  • Accurate Stock Status
  • Stock Classification
  • Stock Requirements 
  • Assemblies / Kits.
  • Consignments
  •  Special Customer Pricing
  • Substitute & Associated Items
  • Multilevel Pricing
  • Alphanumeric Item Numbers
  • Quantity Price Breaks
  • Find by Number, Description, Category, Type, Manufacturer, Bin etc.
  • Economic Order & Quantity' & Minimum Stocking Levels per Item.
  • Unit of Measure Conversion Item Trace
  • Inventory Management
  • Helps Maintain Inventory at Optimum Levels and Minimizes Inventory Counts
  • Two inventory valuation methods can be used to meet your specific business needs These include average and retail valuation methods.
  • Inventory Item information can be entered, edited and printed.
  • Bar code information can also be entered
  • Link items to related accessories.
  • Inventory transactions ( including receiving and adjustments are easily entered and edited.
  • Up to 12 alphanumeric item numbers.
  • Inventory information such as quantity on hand, current stock, projected cost, etc..is readily available.
  • Prices Can be adjusted for special promotions automatically.
  • Numerous reports such as a Price List, Purchasing Advice Report, Inventory Count Sheet, Inventory Activity
  • Status and Inventory Valuation Report can be printed.
  • Supports Assemblies, Kits, Substitute Items, Related Items and Associated (Text notes).
  • Includes support for Multiple Price Levels.
  • Serialized Inventory Tracking.
  • Freeze inventory during counts.
  • Email to salesperson when backordered items come in.
  • Unlimited number of vendors (sources) for each item. Keep track of all of your sources for each item.
  • Inventory Management can be configured to meet the needs of your business.
  • Inventory Items Can be easily Entered and changed
  • You can easily enter or edit information on each item, such as, the item number, description, bar code, quantity on hand, average cost and more.
  • A special feature allows you to discount each item by quantity, customer or % discounts.
  • Item Pricing is Flexible Enough to Maximize Profits. Every inventory item can be assigned its own pricing structure. You can set up to 6 price levels. Prices in the inventory item file can be automatically changed for one item or a selected range of items.
  • Inventory Transactions Can be Entered to Make Adjustments
  • Receiving and adjustments for individual or a group of items are easy to enter and edit.
  • The Inventory Transaction Register provides a paper audit trail.

 

REPORTS

Inventory Management Reports Help You Make the Right Decisions. Inventory Management provides many reports which assist in tracking and controlling stock usage and inventory levels. These include the Purchasing Advice Report, Inventory Status Report, Inventory Valuation Report and Inventory Analysis Reports.

 

List of Inventory Management Reports

  • Product Listing
  • New Stock Report
  • Product Trace
  • Count Sheet
  • Inventory Activity Report
  • Reorder Report
  • Price List
  • Transaction Register
  • Year to Date
  • Period to Date Report
  • Valuation Report
  • Order Fulfillment Report
  • Pricing Labels
  • Purchasing Advice Report

 

Order Entry / Invoicing | Inventory Control | Point of Sale | Accounts Receivable | Accounts Payable | Purchase Order | Payroll | General Ledger | Office Manager System | UPS Manifest Shipping | Services / Text Invoicing | Serial Number Tracking | Return Merchandise Authorization
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