How to handle stocks and manage inventory using insightstock360

Page 1

How to Handle Stocks and Manage Inventory using insightstock360

Presented By

Presented By:Simon Burgess

info@insight360.co.uk 8 The Courtyard, Harris Business Park, Bromsgrove, B60 4DJ +44 - 844-870-7873 http://stock.insight360.co.uk/


What is Inventory Control Importance of Inventory The inventory a business owns represents money tied up in products until the inventory is sold. Since inventory is a large part of the total investment of a business, well-managed and controlled inventories increase the profits of a business.

\\\


Inventory Control Key Terms •Inventory •Inventory Management •Just-in-time Inventory system •Perpetual Inventory System •Physical Inventory System •Tickler Control


Inventory Control Inventory Management Inventory refers to an amount of goods stored, including raw materials, purchased components, manufactured sub assemblies, works in process, packaging materials, and finished goods. Inventory management is the process of buying and storing products for sale while controlling costs for ordering, shipping, handling, and storage.


Advantages of Order Processing Software Inventory Management A just-in-time inventory system is an arrangement in which suppliers deliver parts and raw materials just before they are needed for production. Plants keep only small stocks on hand to avoid tying up money and inventory space.


Advantages of Order Processing Software Inventory Systems All merchandise bought and sold must be tracked to gain the information needed for effective inventory management. Two methods of tracking inventory are: • The perpetual inventory system • The physical inventory system


How Advantages of Order Processing Software Perpetual Inventory System A perpetual inventory system tracks the number of items in inventory on a constant basis, as sales occur. There are two strategies: • Manual Systems Employees gather paper records of sales and enter the information into the inventory system. • Computer Based Systems A point-ofsale terminal automatically feeds sales transaction data directly into a computer.


Advantages of Order Processing Software Physical Inventory System Under a physical inventory system, stock is visually inspected or actually counted to determine the quantity on hand. • Visual Control Used to monitor physical inventory levels. Stock cards specify the number of each item to be kept on hand.


Advantages of Order Processing Software Physical Inventory System •

Tickler Control A small portion of the inventory is physically counted each day so that the entire inventory is accounted for on a regular basis.

•

Annual Inventory Count Inventory is physically counted once a year. Most businesses do this.


Advantages of Order Processing Software Using Both Systems Many businesses use both inventory systems. The perpetual system gives an up-todate inventory record throughout the year. The physical system gives an accurate count that can be compared to the perpetual records to identify errors or problems.


Why Choose Us? 1.

Insight STOCK is one of a suite of software packages created by Tec-ID designed to make your business more productive.

2.

With our Inventory Barcode scanner you can save your time and money.

3.

Insightstock360 is flexible Web based Inventory Control system that suits every kind of business.

4.

Gain full control of your supply chain and increase warehouse efficiency with Insightstock360 Inventory Management


Contact US

info@insight360.co.uk 8 The Courtyard, Harris Business Park,

https://www.facebook.com/InsightStock360/ https://twitter.com/360insightstock

Bromsgrove, B60 4DJ +44 - 844-870-7873 http://stock.insight360.co.uk/

https://plus.google.com/u/1/114639550306560562883


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.