Point of Sale Software

The Retail Advantage POS Software is a true 32-bit windows point of sale, inventory and accounting software application. It is user friendly pos software and easy to implement in retail locations that require easy point of sale functions. Retail Advantage is the only complete pos software application that will help you run your point of sale location to increased profits with features like customer management software, point of sale software, pos inventory software, pos marketing software and point of sale accounting software.

This point of sale software system also works with a cash drawer, receipt printer, credit card processing and bar code reader to make the POS software system automated. We carry different models for your hardware needs and include pos hardware items for the cost conscious. All point of sale customer history is stored in the database for easy review at any time. You can close out or reconcile your cash drawer at any time and even have multiple shifts and multiple point of sale operators per shift. The pos software system even tracks the amount of change tendered.

When you set up your inventory in Retail ADVANTAGE point of sale software you can use the standard UPC bar codes on your retail items and read the UPC with the integrated bar code reader. But you can also just manually enter the UPC code or your own coding system. It’s quite easy to set up. At point of sale you can also find inventory items by manufacturer, vendor or category. An example of category is hair spray, when you select hair spray it will show you on the screen all the types of hair spray you have in stock. You can also easily find items by product name in the point of sale screen directly.  You can also record tips if you like in the POS software system. Multi tender transactions are also supported in Retail ADVANTAGE Point of Sale software program, that means you can have a customer use two or more types of payment on one transaction. The system can then print out the point of sale transaction on professional looking receipts with either single, duplicate or triplicate receipt paper. The inventory pos system  can also handle multiple POS stations for the busy point of sale store.

This integrated solution is a complete answer to your needs because your front desk needs like cash register functions and customer management is integrated with inventory control, payroll, accounts payable and financials. Retail ADVANTAGE Point of Sale Software is the answer to your computer needs.

The POS Software for Any Kind of Business

For any kind of company or business, there is the POS software to always help out. The inventory management software is a type or computer based system designed in managing and increasing the sale of retail products. The term used for the system is the associated to the term Point of Sale wherein a product or commodity is sold such as the cash register or a checkout counter. Since the Point of Sale system is imbedded on the cash register, selling products would a breeze. The inventory pos system consists of the following items in order for it to work. One is the hardware which would be used for the system, the Palm Pad or the reader which would be given the employees so that they would be able to take orders from customers. The Pad which would be used by the employee is connected to the cashier's machine so that the cashier would be able to print the receipt as the customer heads for the counter.

Most companies which offer the POS software have designed various types of the machine according to the type of business.

There is a specific machine for clothing shops, sports shops, restaurants, hotels and groceries.  In terms of groceries, the Point of Sale system would need the serial codes which are embedded on each product. The Serial codes would then be passed through an optical scanner which is an infrared device connected to the retailers machine. There are actually two types of sensors involved, one is the gun type wherein the cashier would have a sensor gun which would be used for scanning the serial codes and the other type is the optical lens which is inside the table used by the cashier. The product would be passed to the lens under the table and

the product would be registered on the system.

Aside from the hardware, there is the software used in the POS software.

 The Software application needs to be synchronized with the amount for each product as well as the palm pad used by the employees so that each product would have the specific price. The software used can also be connected to a computer which would record all the sales daily.

How can you save money using POS

The POS can monitor the reduction in the inventory due to theft, misuse, waste etc. Using an inventory pos system is also a great way to ensure that the items in your shop or the items on the menu sell for the correct price. You can run sales report that will help you analyse the sales of the items and also provide you with the profit margins associated with all the items. You can focus on those items with the highest profit margin to attract more customers to buy the product.

Getting more information using POS:

Have you spent sleepless nights not knowing how many items you sold, if the tills tally, what was the profit generated, whether your employees are fudging accounts, etc? Using a POS can eliminate all these problems since they generate reports that can be balanced with your accounts. The reports also include details about the profit generated, items sold in each category and the number of items remaining in the inventory. The POS System can alert you to replenish your stock and also prompt you to take down the customers’ address and phone numbers at the checkout. You can use the phone numbers to send out alerts and special offers. If your business comes up with newsletter or promotional booklets, the address stored in the POS can be used to send out the same.

Improve your productivity using POS:

Using inventory management software saves you valuable time and provides accurate information. The time spent in checking the inventory and balancing the reports and sales figures by manually generated figures consume a lot of time and are prone to human errors. A POS is more efficient in generating daily reports with the utmost accuracy and also provide inventory figures.

Even though the above stated abilities of the POS are true, it is equally necessary to be trained to use the POS to its fullest ability. Of course, time must be allocated for training purposes but the long-term benefits surpass the time lost. Most of the POS are user friendly and do not require extensive training.

Care for your POS system:

The POS system works best with a dedicated line. However, if it is not possible to get a dedicated line, make sure that spikes and noises that might arise in the building do not affect the POS. Using blenders, slicers, microwaves, ovens and other electrical or mechanical equipments might cause fluctuations in the power supply that will affect the POS.

Choosing the right POS systems and software:

The POS terminals are connected to a computer terminal, which is the main component. There are two options for you to choose from. You can either buy the POS system and the computer from the same seller or have your own computer and simply buy the POS system. However, it must be noted that some sellers will ask for extra money to configure the POS to work with your computer if you do not buy the computer from their store. If you have to buy a computer, and are planning to do so from a different dealer, please think twice. It is always easier to manage the entire POS system and the computer by buying it from a single dealer. This way you need not run around if there is a maintenance work to be carried out or if your POS system or the computer faces manufacturing problems. Setting up the system and the computer, and support from the dealer is easier.

POS system Software:

You will have many options of the software to choose from for your POS system. However, most of the software functionalities will be the same or almost similar. All the POS software can handle your customer transactions.

A typical retail POS software can do the following: take a payment from the customer in the form of either cash or card, display items that are on sale, display the prices for the sale items, calculate taxes, handle returns and refunds, generate reports track your inventory and alert you when the inventory levels need replenishment.

A restaurant POS software is designed for different functions. The software can take special orders, create checks based on the table number or based on the customer. It can also track orders by the server ID or name, generate waiting list, move the customers bill in the bar to the table, generate sales report, etc. Since no two restaurant business are the same, the software comes with add-ons. You can choose to modify the software by using add-ons based on your requirements.

Impotance of inventory pos sytem

Inventory management software is used for the streamlining and automating of the different inventory processes in an organization. It is also extremely helpful in managing the organization's fixed assets in a more efficient manner. As businesses continue to grow at a rapid pace, it has become essential to have an inventory pos system in place in order to ensure the smooth running of an organization.

Inventory management software basically lets the company keep a track of the changes in inventory. With the help of accurate records, it becomes easier for the management to make informed decisions regarding the maintenance and purchase of assets that are crucial in the company’s daily operations.

Benefits of inventory management software:
The software is capable of offering an easy and customizable solution for digital or fixed asset tracking processes. It is primarily used to catalog and prepare reports on a company’s physical inventory, which includes chairs, desks, and all other equipment. The software not only helps in identifying trends in the use of inventory and its necessary replacement, it is also effective in reducing thecompany’s expenses in the purchase of redundant machinery.

Inventory management software uses bar code technologies. The tracking process of transferable assets is done via the check in/check out system. With the help of this software, you have at your fingertips all kinds of asset cost information like location, property type, class, supplier, acquisition date, and expense account numbers.

Any standard web server will be able to support the functioning of this software. In addition, irrespective of the operating system being used on a particular computer, it is possible to access the inventory asset management software easily via the Internet.

Inventory management software is easily available in the market. If you are thinking of implementing such a system, you can either purchase it, create it from scratch, or modify it from an existing template. It may often be seen that it is best to modify an organization’s existing application in a way that it includes integrated asset and inventory management. If however, you do not have a ready made application to work on, you might consider modifying an existing template, or using a sample application from the existing software. This might go a long way in saving both time and money.

7 TIPS FOR IMPROVING INVENTORY CONTROL WITH POINT OF SALES SOFTWARE

Inventory control is vital for any business, particularly in retail and wholesale industries. Knowing when to reorder so you can meet ongoing customer demand was once left to guess work on the part of the owner. But these days, thankfully,inventory pos system can give you all the information you need to make the best judgment call.Not only that, but by maintaining a strict control over this process you can automate your entire inventory control strategy to ensure that your cash flow is maximised to your benefit, rather than your detriment

.Here are seven tips you can neutralise to improve your inventory control with the help of point of sale software.
Analyse Your Sales. When you know what your customers are ordering on a regular basis you have a clear indication of what items to stock. Use these numbers to set your reordering levels and check the trends every day.
Automatic Purchases. Use software to automatically produce purchase orders when stock level alerts are generated. This way the purchase orders can be sent or transmitted to your suppliers immediately.
Special Orders. Your point-of-sale software can be used to track special orders that fall outside your automatic system. Set up a reminder to check the status of special orders every day.
Track Lost Sales. Make sure that you record each time a customer declines to proceed with the sale because you don’t have sufficient stock. This will alert you to the need to adjust your reorder levels.
Track Your Top Sellers. Your bestselling items are your bread and butter, so you want to make sure of two things. First, that you have sufficient stock. But, secondly and perhaps more importantly, you do not have too much stock. By holding too much inventory in one particular item you are locking up your cash, so make sure that you reorder only as regularly as you need to by maintaining minimum stock.
Check Stock Receipts. Make sure your warehouse staff check each receipt against the purchase order. Businesses that automatically assume that the correct product has been shipped to them are making a big mistake. Before entering a stock receipt into the system, if you sure that it is completely accurate and in accordance with your purchase order.
Make Seasonal Adjustments. Many stock items will have sales trends that follow seasonal patterns. Nobody wants to stock overcoats during summer! Your POS software can be used to highlight spending patterns on items during different seasons or times of the year, so you can easily stay on top of your stock levels and order in advance of your anticipated seasonal needs.

JIT Inventory System

JIT inventory control is a great way for manufacturing industries to produce more effectively and efficiently while providing a quality ensured finished item. JIT stands for just in time inventory control.

The benefits that accompany JIT inventory pos system are:
• eliminated expenses
• increased efficiency
• increased goal size
• increased productivity
• supplier/customer relationships
JIT inventory management software allows the manufacturer to eliminate certain expenses relating to warehousing and inventory stock. The JIT system allows for “just in time” production. No parts are necessary until the time they are needed in the assembly time line. The traditional way of production was to have more than what you needed in supplies and produce more finished products than want was needed. This opened the door for a lot of unnecessary expenses. JIT will allow you to decrease expenses while producing more of what you need as opposed to what you don’t need in mass production.

There is a direct correlation between customer satisfaction and productivity. Because so much emphasis is placed on customer satisfaction productivity will increase accordingly allowing for an increased goal size to be implemented. This direct correlation is what manufacturers thrive off of. A simple cause and effect chain all based off of customer satisfaction and customer needs.

Supplier/customer relations will be another benefit of JIT inventory control. The amount of trust and faith the will be put into a supplier will be tremendous. You will be relying on your supplier to get you what you need when you need it at the time it is needed. This will ensure that a relationship is built and can only work with positive communication. JIT is so time specific that once a relationship has been built between a supplier and a manufacturer the number of suppliers for that manufacturer will be minimal.

Although there are many benefits to JIT inventory control there are also some negatives that accompany JIT. Because JIT is so specific it does not allow room for changes in a product. Nothing is kept on hand it is only wanted when it is needed therefore there is no inventory available to make the changes with. This can be costly for a manufacturer especially if there is a defect in one of the product lines. This would call for a total reconstruction in order to determine where the fault lies and how to fix it according to JIT.
JIT inventory control systems are a great way to increase productivity and ensure customer satisfaction but it must be set up properly or the effects can be devastating to a company. Everything about JIT is directly related with one another allowing for a tremendous cause and effect scenario.

Finding the Best POS for Your Business

If you’ve used a retail point of sale software system before, you know how easy to use it is and how efficient it is for any business. There are many inventory POS system available on the market and choosing the right one for your business can seem difficult, but in fact it’s easy to find the right one for you. Every retail chain has different needs for their business, and so it’s important to make sure that all your needs are being met by one retail POS system. Once you find and begin to use this inventory management software, you’ll realize how amazing it truly is and how much time and money it will save you.

As you begin your search for a retail POS system, consider a few things. First of all, what kind of business do you run? Do you own a retail chain store who sells apparel, footwear or other products? Some retail point of sale systems are more suited to the retail world. These systems will be perfect for you if that’s what you’re needs are. You’ll be amazed at how quickly and accurately you can keep track of all your inventory and sales with a hosted POS system. You’ll also find that it’s very user friendly and training employees to use it will be easy. Your POS system will be individualized as far as features, such as barcode scanners and inventory management. It is the best way to keep track of all your sales transactions at all of your locations as well as keeping track of your employees.

Something you’ll want to research when finding the best retail point of sale system is the type of support the company will offer you. It’s important to find reputable, experienced POS companies who can help you run your business better by offering this support. It will make a great difference in your overall retail chain’s success. Finding one who offers a hosted SaaS, or Software as a Service in real time is also a very beneficial asset. Your retail chain will run much smoother when you know you’re getting all the right items at the right time. All of your locations will be able to be linked together making it easy and simple to manage several locations without having to personally travel to them all. This saves time and money for a business owner or district or regional manager. You’ll also love the confidence it brings to know that your system is being managed by the retail point of sale software system supplier. You’ll be able to just focus on managing your actual business and employees. Having the right retail point of sale system in place will be the single most beneficial thing you’ll do for your business.

As you can see, there are many factors to consider when choosing a retail point of sale system. As long as you’re doing enough research online about your options and speaking with a representative from each company, you’ll be sure to have the information necessary to make a decision. Make sure that you feel comfortable and confident with your retail point of sale system, as it will become an essential part of your business. The right retail point of sale system will make your job easier and your business run smoother.

10 Secrets of Successfully Computerizing Your Business.

Be an educated buyer  There are so many ways to learn about computers and inventory pos system.  You can go to a library, browse the Internet, visit a local computer store or even another business that has a inventory POS system.
Know what you want from your point of sale software before you buy anything.   Make a list of functions you would like the point of sale system to handle.   Prioritize the list.
Buy only time-tested products.   Make sure that the inventory management software has been used in many businesses similar to yours and get references. Call the references.
Don't underspend.   Search for value, not price.   The price is important, but a good system is going to pay for itself many times over anyway.
Find a consultant that you trust and have confidence in.  Having a Value Added Reseller (VAR) or advisor to assist you with the implementation of a POS system will be well worth the investment.    The VAR should be familiar with the system and will be able to get you up and running quickly.
Don't try to automate your whole business in just one day, or even one month.  Take your time to get all the staff trained, and allow time to work out the kinks.  It can take a year or more to fully utilize the software.
Start fresh from the day you install the system.   Don't try to enter past history into the computer.  And generally, we don't recommend trying to put in accurate inventory counts on the very first day.  If your VAR recommends it, after analyzing your particular company, then we would defer to his expertise.
Back up your data daily.  Test the backup occasionally.   Keep a back up copy off site.
Buy a support contract from the POS vendor/VAR.  Keep current with upgrades.
Install a battery backup and dedicated electric line for your computer.  Power surges, summer outages due to heavy a/c use and other similar events occur regularly.  Clean, filtered electricity is as important a component of a successful point of sale system as anything else.

Inventory pos system

A Point of Sale (POS) system or inventory pos system is a system for managing the sales of retail goods. The term is used to refer to the software and hardware associated with check out stands, and all of the bundled features which are included. Most retailers use a POS system at their checkstands or counters, and several major manufacturers offer POS systems designed for various types of businesses, ranging from grocery stores to clothing boutiques. Using a POS system makes a business much more efficient, lowering the costs of running the business while improving customer service and making the business more pleasant to work in.

In the retail trade, the “point of sale” is the moment when a customer walks up to a counter with goods and prepares to purchase them. A POS system handles the transaction, whether it takes the form of an adding machine and a hand written receipt pad, or a complex computer system. Except in the case of very small businesses, a current POS system usually takes the form of a computer system.

The most basic POS computer system is an electronic cash register. The clerk can ring up goods in the cash register and produce a receipt for the customer. At the end of the day, various cash register functions can be used to print out daily reports which are used to reconcile the cash register and to prepare a deposit. More complex cash registers are capable of extremely detailed reports, and they have memory functions which allow users to look up reports from the past, or generate monthly and yearly reports.

A more complex POS system, however, includes numerous bundled features. Many POS systems have inventory management software capabilities, where each piece of merchandise is entered into the system so that it can be tracked. Some systems also allow store buyers to generate purchase orders from within the system, using data about sales and product popularity. Time clocks and other accounting features such as credit card verification may be integrated into a POS system as well. Human resources may keep personnel records within the system, in a separate password protected area.

Inventory Management Software for business

Why to have Inventory Management Software  for business?

Inventory Management Software systems have become inevitable in almost all of the business today. Inventory Management Software is a constitutional part of keeping the business moving fluently, whether it is an intense production unit or some service-oriented industry. The usage of software tools specifically designed for inventory control and management run deep into a company’s long way in keeping a company’s wheels running smoothly.
Inventory Management Software helps in inventory tracking and controlling the levels of stock, both real-time as well as batch stocks. The software usually has interfaces that can determine when stock needs to be reordered or needs to be scaled down because of less demand, which gives user the complete control over the inventory life cycle. This helps to keep the inventory always stocked up so that the user would never ever lose an order because of insufficient stock. The software can also spot potentially unwanted and old dying stock. It can track sales by drawing out intelligent trends and fact sheets over a period of time and report on orders that are expected to follow.


Inventory Management Software  solution in Qatar offers the most of the features, which is affordable to any small to medium business organizations.

Inventory Management Software 2011

Today, maintaining the right inventory levels is a tough challenge. If not properly managed, your inventory can result in a significant expense. Looking over your shoulder is the lender who is concerned about the cost of carrying too much inventory - which can affect profitability.
Fortunately, there are management information systems that exist which use microcomputers and a variety of industry specific software. The cost of carrying inventory today has become a major expenditure and requires immediate attention. The benefits of inventory control far outweigh the costs. Any reduction in inventories, whether it is raw material, work-in-process, finished goods or supplies, can have a dramatic impact on your bottom line.
Industry averages suggest that a 20 percent reduction in inventory is achievable with a computerized inventory control system.

 A computerized inventory control system can also help a company with new inventory management software or inventory pos system techniques such as Just-in-time (‘JIT’). Such techniques cut the use of company resources such as warehousing, equipment and personnel. However, these techniques require error-free environments and better control over inventory since the buffer zone to compensate for the errors is less.
How do you go about selecting a computerized inventory control system.
First, such a system should be bought rather than developed in-house. With the purchase of an already available software package, you can focus on getting the benefits of the system immediately rather than waiting until the development and debugging is completed. Also, the documentation and training materials will generally be available immediately when a software package is purchased.
Buying a software package is not easy, considering that there are many choices available in the marketplace today. When choosing a package, consider: ease of installation and operation, ease of use, vendor reputation, local troubleshooting and consulting support, quality and availability of end-user documentation and education programs.

What can you expect a computerized inventory control system to do once it is in use?

The package should be capable of certain key functions. The system should allow for reporting and tracking all items of inventory within a company. In the case of a manufacturing company, this includes the raw material, sub-assemblies and other work-in-progress, finished goods, tools and supplies.

In particular, the system should:

Maintain an item master file for the company. This file keeps all pertinent information on each item to be controlled: part number and description, detailed information such as preferred and actual locations and shipping weight, reorder point and recommended reorder quantity and cost information such as standard cost, actual cost and sales price.

Process the inventory within the company. Such activity includes the material issues, receipts, shipments, transfers, returns, rejections, inspections and scrap. The system should enable the transactions to be processed online, with immediate updates. The system should also provide the capability to track inventory levels and activity for multiple locations within the company.

Facilitate purchasing. The system should provide reports of items at reorder points in case of companies not using material requirement planning ("MRP") systems. The order point calculation should be based on the prior use of items. Automatic computation of these numbers greatly helps in inventory control personnel.

Provide adequate online inquiry and management reporting capabilities. The system should provide online inquiry into the stock status by different locations, inventory value by different location and descriptive information for each item. The information should be obtainable on the screen from different computer terminal locations.

The system should be capable of generating numerous operational and management reports. These might include:

• Stock status report
• Inventory movement report
• Recommended purchases report
• Parts history report

A computerized inventory control system can be a big asset to a company, whether large, medium or small. These systems can help the management in controlling the inventories of the company to cut significant costs and have a dramatic impact on the financial bottom line of the company.

Such a system should be purchased from software package vendors and customized to the company’s needs, if necessary. There are many packages available in the software market today. However, care should be exercised in choosing the package since the customizing and implementation costs for the company could be very high if the wrong package is chosen.

The cost of implementing the system goes far beyond the cost of the software package itself. The effort and time could be as high as five to 10 times the cost of the package. But the benefits of the system would still far outweigh the costs for a typical company.

Bar Code Production In Inventory Management Software!!

The type of data collection in Inventory Management Software you need depends primarily on your barcode scanner output. There are several popular types of output:

1) Keyboard Wedge output or USB output

If your barcode scanner has Keyboard Wedge output or USB output you will not need special data collection software. Both these outputs will dump the data right into the foreground application on your PC wherever the cursor is flashing, as if it were being typed in. You do not usually get much control except for the addition of a trailing keystroke, such as an ENTER key, to your data. But these methods are very simple and work fine for many people.

2) RS232 output (includes some RFID scanners)

RS232 output is characterized by either a 9 or 25 pin rectangular connector plug. It attaches to one of the COM ports on your PC. If you have this type of output you will need additional software in order to collect data from the barcode scanner directly into most Windows applications. For this purpose we developed BC-Wedge software (short for Bar Code Wedge). It inputs data directly into your Windows or DOS applications as if the data were being typed in - in many ways similar to a Keyboard or Keyboard Wedge. It is extremely easy to use and the perfect solution for most RS232 barcode users.

For those RS232 barcode users needing more options we have WinWedge 32 Std, WinWedge 32 Pro and DOS-Wedge Pro. These advanced versions offer sophisticated data parsing, filtering and formatting, date and time stamps, 2-way I/O (for RFID), keystroke macro insertion, data translation and much more.

3) TCP/IP output (includes some RFID scanners)

TCP/IP compatible devices typically connect to an Ethernet network. If you have this type of output you will need additional software in order to collect data from the bar code scanner directly into most Windows applications. TALtech developed TCP-Wedge to collect data from TCP/IP ports (i.e. a device connected to a TCP/IP port) directly into any Windows application. It has all the advanced data parsing, filtering, formatting, 2-way communications, etc. of WinWedge Pro and ships as part of the WinWedge 32 Pro package.

Inventory Management Software for Effective Warehouse Goods Management

Many types of Inventory Management Software are available for different

business purposes. Choosing the right kind of software is rather a

difficult task. Software that can complete the inventory management

process without any much hassles goes a long way in solving

problems. For any business managing inventory is very essential from

the point of view of growth and development. In simpler words

inventories refer to stock of raw materials, finished or semi-finished

goods in the warehouse of a company that is utilized for business

dealing whenever needed.

When the amount of inventories is huge, it becomes next to impossible

to keep record of the number of inventories manually by counting them.

It proves to be taxing for time and resources both. Therefore large

number of companies are using inventory management software for the

respective purpose. The result is effective control and management of

inventories saving on time and hard work factor. The software can keep

track of many details like- quantity of goods stored, purchasing date of

goods, record maintenance of sales, gives apt product description, etc.

Such type of services makes the process of inventory management

smoother.

An ideal inventory management software consists of added

characteristics like- offering of extended financial profits to its users,

bringing down the overall warehouse cost, management of back-orders

and speedy goods selling information.

Inventory management software is not confined to large scale

businesses, but from small scale to medium sized businesses that

have inventories to manage may use it to profit maximization. It avoids

stocking of surplus goods also shortage of goods when needed.

Equilibrium between demand and supply of goods is maintained by the

help of this software. Also the buyer can take wise decisions regarding

the buying of the goods. This is possible as this software helps you

know better which goods are more in demand, which ones are in

shortage, which products have slower sales, etc. By such valuable

information you can maintain proper stock in the warehouse so that

there is no rejection to customer orders. Thus yielding to better

customer satisfaction.

Businesses whether wholesalers or retailers very well understand the

importance of proper inventory management thus software related to it

also considered as essential online tool. Numerous software service

providers are found online, select the one which suits most to your

business needs and goals.

Inventory Management Software And Best Practices

These Inventory Management Software best practices, from WorkingPoint will help you use your new digital tools to truly improve how you effectively run your business!

Inventory Management Best Practices::--

1) Take a Periodic Physical Inventory and Make Adjustments

The sad reality of running a business is that no matter how diligent you are at some point your actual inventory quantities can get out of sync with the quantities stored in your inventory management system. Some of the most common culprits are spoilage, breakage, theft, or data entry errors. The best practice is to schedule regular physical inventories of your products so that you have a failsafe built into your inventory management system. After the physical count, make sure to update your system or software so the quantities stored there match your actual quantities. How often should you schedule checks? The size of your business should determine how often you check. How closely will overages and shortages effect your bottom line? Choose a monthly schedule, others quarterly or even yearly schedule based on your individual business needs and resources.

2) Write-off Breakage or Spoilage as it Happens

If you experience:

frequent breakage or damage of your products
your product has a short life span
spoilage
If your business experiences these inventory changes, it’s incredibly important to develop a system to easily keep track of these trends. WorkingPoint suggests you keep a clipboard in an easily-accessible location so you can write down important information about your unsellable goods. Develop a simple form with the product name, how many units you lost, why you can’t sell them and the date you pitched them so you can quickly fill in the data.

Before you take your scheduled physical inventory or close your books for a period, make sure to adjust the quantities in your inventory management software to get the unsellable products off your books. This will keep your inventory quantities current, your inventory valuation accurate, and reduce your tax liability.

3) Review Your Available Quantities Before Placing Orders

WorkingPoint Inventory Management Software lets you filter the items list to include only inventory items, so you can easily create a Stock Status Report. If your inventory management software can’t do this for you, make sure you create a list of all the products you keep in stock along with their current available quantities and review the list online or print it out to see what you need to reorder before you place an order.

Inventory Management - Brief overview

Inventory is the bread and butter of a wholesale businessman. Inventory Management Software is therefore inevitable for all wholesale entrepreneurs to succeed. There are many things that need to be considered by a wholesaler or supplier who is about to start a new business as a wholesaler. Wholesalers buy in bulk and sell in bulk. Poor inventory management can put them to a road of forever losses. Anyone starting a business as a wholesaler should therefore know the importance of inventory management for long term success.

A wholesaler will always need a warehouse. Warehouse is the best friend or the worst enemy of a wholesale supplier or distributor. Choosing the right kind of warehouse is like winning half the battle. The two key ingredients in selection of a warehouse are its location and space. More the space, costlier it will become to get one. Better location will raise the rent or the price (if you intend to buy). Location’s preference will be on the type of transport used to carry the inventory into and out of the warehouse. There are many warehouses in the UK where large Lorries are forbidden to travel. Many UK wholesalers are either shifting to smaller modes of transport or going out of the city. Poor location selection significantly increases the risk of failure as a wholesale distributor. The wholesale business entrepreneur should appropriately estimate the inventory’s particular quantity staying at the warehouse at a given time. This saves him additional cost and he can have reasonable sized warehouse at the best suited location.

Use of software is a must for a new start up wholesale business. Often new entrepreneurs who aren’t tech-comfortable think technology as a waste of money. A lot of new inventory management software is available in the market. You can purchase any good inventory management software and easily manage your entire inventory with maximum efficiency and minimum losses.

Supply chain management is an important part of effective inventory management system. Buying inventory decision should be based on the demand and supply forces. There are many entrepreneurs who aren’t able to minimize their warehouse and transportation. It can be a crucial step in determining the success of a wholesale business. The key here is the proactive approach adopted by the entrepreneur. He should strike a fine balance between just the right kind of inventory and the demand. Good relations with the manufacturers can also help maintain the balance of inventory and wholesale supplier can easily get on demand inventory whenever there are any variations in the level of inventory demanded by his business.

A pre-planned warehouse and inventory management system for a start up wholesale business is the best way to go. This will save the entrepreneur from a lot of problems and minimize the chances of failing a new wholesale business start up.

Inventory pos System : Inventory Management Software

Inventory Management Software

Web based Inventory Management Software control System integrates the business of a large organization in software which enables you to manage your business from any part of the world. It has separate modules for inventory management, bill of materials, work orders, sales/order processing, accounts receivable, accounts payable, request for quotes and purchase orders.

Inventory POS System

Web Based Inventory Management System and Web based POS Software allows retailers to maintain absolute control over sales and inventory while presenting an easy customer checkout with point of sale (POS), it is a great solution for both your sales counter and telephone order desk.

Web Based Inventory Management System

inventory control has the following additional features:

• Analyzes inventory levels, allocates stock plan purchases and allocates deliveries accordingly
• Provides powerful search facility using item code
• Has an extensive serial number tracking system along with expiration codes
• The batching rules assist in controlling inventory levels
• Identifies key suppliers of each stocked item
• Price protection
• Lot tracking
• Stock transfer
• Multi currency pricing
• Integrated inventory management
• Multiple units of measure
• Inventory profitability analysis
• Multi level categories
• Serialized Inventory
• Audit Trail for Inventory Adjustments

Web Based Inventory System

web based inventory system helps small to midsize companies and organizations to create, process, and track purchases.
• Purchase Order Entry
• Requisition Processing
• Purchase Order Receipts
• Purchase Query
• Purchase Order History
• Purchase Order List
• Purchase Order Receipts
• Vendor List
• Purchase Order pending
• Purchase Order Receiving Worksheet
• PO vs. Standard Cost Report
• Vendor Maintenance
• Item/vendor Data Maintenance

Disadvantages Of Inventory Management Software

The main disadvantages of Inventory Management Software are its cost and complexity.

Expense

Cost can be a major disadvantage of inventory management software. 

Many large companies, such as small businesses can find it difficult to afford 

it. Barcode readers and other hardware can compound this problem by 

adding even more cost to companies. The advantage of allowing 

multiple employees to perform inventory-management tasks is 

tempered by the cost of additional barcode readers.

Complexity

Inventory management software is not necessarily simple or easy to 

learn. A company’s management team must dedicate a certain amount 

of time to learning a new system, including its software and hardware, in 

order to put it to use. Most inventory management software includes 

training manuals and other information available to users. Despite its 

apparent complexity, inventory management software offers a degree of 

stability to companies. For example, if an IT employee in charge of the 

system leaves the company, a replacement can be comparatively 

inexpensive to train compared to if the company used multiple programs 

to store inventory data.

The cost of maintaining the inventory management software   is based on the number of items managed, how many transactions are performed, and whether the inventory control system is tied to a resource planning system. The ICS is a module within many Enterprise Resource Planning software applications.

Inventory Diversity Drives Up Costs

Businesses with 100,000 products require about ten times as many database entries as a business with only 10,000 products. This fact alone drives up the set up cost of an inventory management software . Furthermore, more types of items in inventory results in greater costs to maintain the inventory management software . This disadvantage of an inventory management software  may be mitigated by bulk loading of part data into the inventory management software  database. However, the information on those parts must still be reviewed, verified and kept up to date.

Inventory Management Techniques & Tips

In business, inventory management techniques is a list of products and materials will be available in stock. Managing an inventory management system or inventory of all the management functions is related to monitoring and material management. This includes control of material moved in and out of store locations and reconciling inventory balances, setting targets, providing replenishment techniques, status of current and planned inventory. The task of ABC analysis, lot tracking, cycle support account, etc, can even be a part of inventory management.

The first and most important step in inventory management is acquiring accurate information for input operations. The information obtained in advance can be a crucial factor in improving productivity of entry. Implementation of a forward strategy of entry and execution framework can be done without too much effort to reengineer the supply chain. The perfect way to start is to make the best use of available information and establish a set of rules and regulations to use the information efficiently.

In order to improve their work and progress further, can carry out a survey asking executives the supply chain for the name of the area of the five most important improvement in operations support systems. The survey results reflect better inventory planning as one of the destinations. It should pay particular attention to creating an effective means to maintain the integrity of inventory data or the creation of higher productivity and capacity utilization. Lack of efficient inventory data integrity can lead to large numbers of unproductive labor, underutilized capacity of the distribution center and decreased customer service levels due to incomplete or late orders.

Since last year dealers are expected for a device that can help control and manage their most important asset, inventory. As a result, several companies have developed software modules integrated inventory management and systems. These packages allow the distribution fresh to effectively manage their warehouse stock.

aid charity, however, can not provide solutions to inventory management. For the inventory management system to live up to their potential and perform their best, make sure you follow some basic ways good and very important to good 

For starters, make sure your company is protected against theft. There should be no problem of theft in place. When ordering, order and the amount of non-action or special items that your client has approved. To add an inventory, you must obtain a purchase commitment of his client. Ensure that the allocation and use of disposal sites. Creation and use of suitable disposal sites do a job picking seamlessly into your store. Never forget to make an entry of material coming out of his store. Try to get rid of "no cost / no papers' swap material. You must load the samples of products to a merchant account until you return to the public or customer.

Effective inventory management also requires a work on paper (pick up the documents to be completed by the end of the day, the entrance of each receipt single stock in the computer, etc) is up to the mark, identifying the most profitable replenishment strategy for each item in each store, creating some lucrative offers and rewards for buyers, specifying the guidelines for establishing the method of changing the order and the creation of an on-going dead stock and a program of control over inventory.

OOPs based Inventory Management Software

Knowledge of OOPs programming enables you to understand the customer´s requirements, design the user interface and applications using OOPs principles and methodologies.
OOPs which was earlier thought of to be the sole domain of C++ and Java programmers is now used extensively in all types of applications including visual basic and sql server database software applications.
Program an Inventory Management Software for a Trading Firm.
Program Purchase Invoices, Sales Invoices, Returns, Journal Vouchers, Cash Receipts and Cash Vouchers using Visual Basic.
Program Cash Book, Stock Ledger, Trial Balance and Income Statement reports using Visual Basic.
Design an Inventory Management Application using Object Oriented Programming using Visual Basic.
Implement a Class, Attributes and Services using Visual Basic.
Link a form and a class in Visual Basic.
Use ADO Programming Model objects - Connection, Command, Recordset and Field.
Use Recordsets in an ADO environment including Dynamic, Static, KeySet and ForwardOnly Recordsets.
Use the different types of cursor locations.
Implement locks in an ADO environment.
Master OOPs including Abstraction, Encapsulation, Inheritance and Polymorphism.
Define a class including Property Procedures, Polymorphic Methods, Generating Events, Viewing a Class, Creating Objects, Using Forms as Objects.
Learn how to create and implement Account Class (for managing the accounts of firm) and Item Class (for managing the closing stock, opening stock, discount rates etc).
Design and implement Chart of Accounts for a Trading Firm (Stock Management).
Program and implement double routines for sales invoice, purchase invoice etc.
Design and Create a database for a stock management software application.
Design, program and implement a Trade Class for managing all trading transactions.
Design a single master form (OOPs Programming) and implement various transactions like Purchase, Sales and Returns.
Program a datagrid which accepts items, units, rate and quantity.
Learn how to include and implement discounts, frieght and sales tax. Learn how to maintain double entry conditions for all the above situations.
Learn to how to show sorted items in a list box.
Display credit balances, debit balances, and cash balances for selected accounts like creditor and debtors.
Implement programmatically, validations to check duplications and automatic updation to relevant group accounts in chart of accounts.
Learn how to add, delete and modify accounts on the fly in a single transaction.
For a particular item a unit of measurement and use it while recording transactins like invoices etc.