Sales and Inventory Objectives and Features

Topics: Inventory, Inventory control system, Marketing Pages: 5 (1610 words) Published: October 3, 2011

System Features

Product Management – Create and manage products/items. Set categories, packages and sub packages or bundled packages. Set retail price and wholesale price for customers and regular customers.

Supplier Management – Add, update or delete suppliers. Create list of suppliers and monitor who is active. Your list of suppliers will also display your accounts payable.

Customer Management – Create, update or delete customers. For regular customers, set a wholesale price. Monitor customers and your accounts receivables.

User and Level Assignment – Create, update or delete user and assign them with their level. Levels give them the rights to access modules from the software. Purchase Orders – Make purchase orders to your supplier in case stocks are in critical level. P.O. are recorded and your payment history for later tracing. Sales Invoice – Create sales invoice for regular and new customers. History of all invoices and its specific items are kept for monitoring for safety and warranty. Stock Transfer – Prepare stocks for branch transfer or item returns to supplier for warranty issues. Transferred stocks are deducted to the inventory automatically. Stock Receiving – Record stocks you received from suppliers (ordered stocks). Items are automatically added to the inventory. Monitor Payments – Monitor your payments made through purchased orders and payments by customers with sales invoice. Manage Due Checks– Monitor checks you issued to supplier and checks paid by customers. Product Inventory – Monitor your current ending inventory and beginning inventory. Check restock level for new orders. Account Payables and Receivables – Check your current balance and ongoing receivables. Helps you see if your business is growing or loosing. Products History Tracking – Monitor history of all products. Transferred, received, sold and void items are tallied. A simple deduction and addition will tell you if something is missing from the inventory. Activity Logs – Check activities made by users. Helps in tracing employees activities especially for those whom you suspect that cheats you. 

General Objectives of Sales & Inventory Systems
Sales and inventory systems track purchases, incoming shipments, stored inventory and sales transactions throughout an organization. Sales and inventory systems can be as simple as a pen-and-paper system, or as complex as an enterprise software package connecting accounting databases, inventory information and point-of-sale terminals across several continents. No matter the scale, business owners deploy these systems to accomplish a number of general objectives. Understanding the objectives served by these systems can help you design and implement the ideal system for your business. Cost Control

Keeping costs under control is one way to contribute to bottom-line profits. A distinct benefit of sales and inventory systems is their ability to control costs throughout an organization. These systems can meet strategic objectives for reducing waste, spoilage and incidents of mishandling by tracking inventory from purchases all the way through sales to end customers. Inventory systems can track inventory loss statistics and create daily reports for front-line managers, allowing the managers to address specific issues in their specific stores. Security

Inventory and sales systems also help to reduce theft and collusion, which can be a persistent problem in certain businesses, such as retail operations. Inventory systems match up purchases with sales records to ensure that all items that coming in are either being sold or are accounted for in inventory storage counts. Inventory systems can simplify physical audits by printing detailed reports of inventory expected to be on hand, or by integrating with tracking technologies such as RFID tags to speed up auditing processes. Systems that include security tags for inventory items and which track sales by salesperson ID...
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