Stock: useful and necessary

Useful and necessary

RetailVista has an effective administration for your stock. But what’s the point of keeping inventory, or is there a need to record inventory from time to time to inform the bank of the value of your inventory?

Financial overview

The value of stock is useful and necessary for your yearly financial balance.

Webshop integration

Lately it has been an important reason to keep track of stock, because your store is linked to the Internet through a webshop. After all, you only want to show those products on the webshop that you still have in stock. This prevents 'over' sales with webshop orders, with all the work afterwards such as having to credit payments and disappointing customers.

Selling ‘No’

There isn’t any retailer who likes to sell "No". By using stock, purchase orders will automatically arise as a result of the combination of sales and current stock. This saves you time in having to decide for yourself which items to order and the quantity, and because of this time you have been spending, the chance of selling 'no' sales is much smaller. Sales orders can be made based on stock levels to reduce selling “No” and to be able to make a purchase order, when needed.

Item in stock or not

Using RetailEverywhere or RetailVista Mobile, you can quickly check in the store and warehouse whether a product is still in stock and (in the case of a warehouse) where the item can be found. In an interbranch situation or other constructions where stock data is made available, you can also see perfectly whether an item is still in stock at other locations.

Stock value

If the available stock of an article is known, the stock value of that article and finally of the complete store can also be determined. RetailVista can determine the stock value based on the last known purchase price from the productfile, or via FIFO (First In First Out). A separate leaflet is available on how FIFO works.

By performing an inventory (stock take) on the store in whole or in part from time to time, it will become clear whether the stock records still match the current stock in the store.

Purchase

In order to make a purchase order, you want to know the stock and the future stock. You also want to know the statistics, like average stock and average turnover rate. When you are making a purchase order all this stock information can be looked into.

Process

In RetailVista you can look into stock in different processes, so you can easily know the stock when you are making a purchase order or sale order. You do not need to go out of your process, where you are working in, to be able to find out what the stock is. Stock is also available when looking up a product and in the Statistics.