Set Up Inventory Tracking

Set Up Inventory Tracking
 
After entering your products in the Setup Wizard, you will need to determine and enter three additional numbers for the inventory management and point-of-sale functions to work properly (or at all). These numbers must be entered for every product before you begin using the software to run your business on a daily basis. They are:
·       On Hand (physically on your shelves right now)
·       Target (quantity you want on the shelves to cover potential sales)
·       Use-Up Time/Days (average length of time to use up a product)


We recommend doing a physical inventory count. An accurate On Hand number goes hand-in-hand with the Target number. Without both, the inventory system can’t track your usage against a target and therefore cannot generate accurate purchase orders and reports. Without Use Up numbers, the Suggestive Selling feature will not work at checkout.
 
Enter On Hand quantities…
 
First you’ll need to take a physical inventory.
1.     Go to: Manage> Inventory> Mass Update
2.     Click Print Physical Inventory.


3.     Count the products on the shelf and write in the actual quantities on hand in the Actual column of the printout.
4.     Do the same for professional/back room products.
Then enter the data.
5.     Go back to the Mass Inventory Update screen and enter the On Hand quantities for all products. Just highlight the 0 and enter the new number.
6.     Complete all pages and click Save Changes.
 
Enter Target quantities…
 
Target numbers are the minimum quantity for each product that you don’t want to let your inventory go below. Each time you sell a product or otherwise remove it from inventory, the transaction is recorded against the target number. Then when you generate a purchase order, the software figures out what you need to order to keep your shelves and back room fully stocked so you don’t lose a profitable retail sale.
1.     Go to: Manage> Inventory> Mass Inventory Update
2.     In the Target column, enter a target number for every product, both retail and professional. Simply highlight the existing number 0 and enter your target number.
3.     Go through every page of your inventory. Click Save Changes.
4.     If you find through future experience that any number is set too high or low, it can easily be changed at any time on the Mass Inventory Update screen or the individual product record. For seasonal products or promotions for which you’d like to keep your inventory low except during certain times of the year, select the lower target number. You can always change it on your purchase order when you want to temporarily enlarge that number,
 
Enter Use-Up Time/Days…
 
Use-Up Time is the number of days (usually 30, 45, 60, 90, etc.) that it takes for the average client to use up this product in this size. The use-up number drives the Suggestive Selling feature at point-of-sale to remind clients that they’re running low on a product and may need to buy more.
1.     Go to: Manage> Inventory> Mass Update
2.     Enter the number in the Use-Up Time column. You may have to guess at use-up times at first, and later change them if experience proves differently. These numbers apply only to products for retail use, not professional products.
3.     Complete every page of your inventory for retail products. Click Save Changes.
 
Please note that the point-of-sale function automatically tracks retail inventory as it’s sold. Professional products also require On Hand and Target quantities, but their use must be tracked manually through the Inventory Use function.

 

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