Does your system tells how much you should buy?
Does your system tells how much you should buy?
It’s a high stakes balancing act: commit money early to large quantities of merchandise, and possibly end up with too much; or, commit less up front, saving cash for later, and take the risk of not being able to get the goods when you need them.
How to achieve the right balance between merchandise and cash?
Projections and planning are essential, enabling you to meet inventory needs on a regular basis and avoid too much inventory when you don’t want it.
For this traditional system ask for
* Reorder Level
* Safety Level
* Re-order Quantity
* Minimum Order Qty
Isn’t this is a tedious job to input these data for 1000s of SKUs.
For the Retail Method of Inventory Accounting, Pre-Purchase Order (PPO) or Automatic Purchase Order (APO) is an instrument through which the tentative plan of order placement to the vendor is done for the whole season as soon as the inventory planning is completed.
A Retail Management software must have a powerful Auto Purchase Order system which asks you few questions to generate a purchase order based on your last transactions.
Does your system tells how much you should buy - To learn more about this author, visit Nilesh Shah's Website.
Like this article? Share it with your friends
Retailing is a delicate balance between merchandise and cash.
It’s a high stakes balancing act: commit money early to large quantities of merchandise, and possibly end up with too much; or, commit less up front, saving cash for later, and take the risk of not being able to get the goods when you need them.
How to achieve the right balance between merchandise and cash?
Projections and planning are essential, enabling you to meet inventory needs on a regular basis and avoid too much inventory when you don’t want it.
For this traditional system ask for
* Reorder Level
* Safety Level
* Re-order Quantity
* Minimum Order Qty
Isn’t this is a tedious job to input these data for 1000s of SKUs.
For the Retail Method of Inventory Accounting, Pre-Purchase Order (PPO) or Automatic Purchase Order (APO) is an instrument through which the tentative plan of order placement to the vendor is done for the whole season as soon as the inventory planning is completed.
A Retail Management software must have a powerful Auto Purchase Order system which asks you few questions to generate a purchase order based on your last transactions.
Does your system tells how much you should buy - To learn more about this author, visit Nilesh Shah's Website.
Like this article? Share it with your friends
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