Inventory

Perpetual inventory at weighted average cost (WAC) or last invoice cost (LIC), accommodates tracking of owned , memo (consignment), reserves layaways /laybys, in distribution, in transit.  Items number can be up to 11 digit PLU, 25 characters SKU or character style number. Multiple merchandise classes, subclass, departments, buyer codes and groupings.

Inquiry

The Merchandise Availability inquiry shows chain-wide information and store specific information on the same screen.  Store Specific information includes quantity on hand, plan, reserve, YTD sales, prior year sales, dates of last sale, received and transfers in/out.

Purchasing

Purchase Orders can be generated manually, through a collection of requisitions, or automatically based on min/max thresholds. Our Direct Delivery feature also allows merchandise received without a PO to create the transaction, costs and audit trails on the fly. Manual PO's can be entered by item or Style.  Tags can be printed along with the PO if desired.

Receiving & Costing

PO receiving allows partial or full receipt of items on the PO.  Full integration into the Accounts Payable module creates draft vouchers for the shipment received, or journal entries in General Ledger for memo goods received.  Changes to the receipts can be made unitl the cost approval step is taken.  Tags are automatically printed for the received quantity.

Pricing

Retails can be global, regional, store specific, or date specific.  Automatic discounts or markdowns can be pre-scheduled with a start and end date.  Price changes can be individual or en masse, with rules on price points and rounding.  Replacement tags can be generated by store for easy re-tagging on site.

Distribution

Methods are available for pre-distribution, where stock is allocated at the PO stage, post-distribution where stock is allocated at the receiving stage or all allocated to the replenishment vault.  Distribution screens show the available on hand, plan levels and sales quantities and default suggestions of where the stock should be distributed.

Replenishment

Automatic replenishment based on dynamic stock levels (Plan) for the stores.  These Plans will change automatically based on the High and Low season presets. Replenishment creates distribution from a specific vault to bring store stock levels up to their plan.  It takes into consideration conditions such as reserve on hand, and in-transit, to keep the stock levels optimized. 

Transfers & In-Transit

The movement of merchandise, either by stock distribution, or by store transfer is controlled by a movements file with three phases.  Requested, Shipped and Received.  While the merchandise moves through these phases it is tracked as part of the reserve via the categories Awaiting Distribution Pending Transfer and In-Transit Out.

Inventory reporting & Sales Anaylsis

Periodic reports of inventory levels and sales can be produced at any time for any period.  These summary reports are based on the Class and Subclass of the merchandise within nine levels of detail.

Planning & Open to Buy

The Sales plan is based on Class at any of the nine levels of detail.  Tools are available to create the chain-wide Plan based on previous actuals, one or more years of history with a percentage increase or decrease.  The classes historical merchandise turnover is used to calculate the inventory plan, and with these three numbers, the Open to Buy.  Actuals are then used to self-correct the forecasted Open to Buy every month.  Views allow you to see Memo and Asset or combines results

System Requirements

IBM iSeries server with iOS V7.1 or above 16Gb Main Storage, 1 TB Disk is typical.

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