After an inventory item has been set up in SpeedyPOS™ most of the future adjustments to the item are done automatically by the system. Sold inventory is removed from stock, layaway items are clearly marked, minimum and maximum inventory levels are checked with each transaction, costs are adjusted with receipt of inventory, inventory item history is tracked, items on order are tracked, and more.
Cost and Landed Tab
Control your inventory costs with:
- Actual standard inventory item cost
- Freight – Duty and Extra applicable costs
- Average inventory item cost
- Cost of upcoming inventory in stock
Knowing the current and historical costing details of your inventory will give you the edge in pricing.
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Retail Tab
While many businesses only need to have one level of pricing, SpeedyPOS™ Retail POS Software allows you to set up to six pricing levels for each inventory item. If you have more than one price level, pre-setting your pricing for Contractors, Favored Customers, Staff and others – reduces errors and saves time.
In this case - the list price is a 300% percent markup from landed (original cost plus 300%) and the balance of the pricing levels are based on percentage discounts (D) from the list price - but as you can see - there are several automatic pricing options available including:
- W - Markup from Cost
- L - Markup from Landed
- D - Discount from List
- F - Fixed (a fixed % rate)
- H - Margin from Cost
- M - Margin from Landed
- S - Discount from Sale from Landed
Cost and Stock Levels Tab
Up-to-the-minute reports on
- Current item stock level
- History of receipts on item
- Purchase and sales history of item
In addition, this powerful inventory feature allows you to make direct stock adjustments. Note, the security setting you select will determine who has access to inventory items and who can make changes.
Comments Tab
SpeedyPOS™ Retail POS Software does the remembering for you. This great feature allows you to leave ‘notes’ in the system for future users. Create customizable messages that automatically:
- appear on the transaction screen at time of sale related to this inventory item
- appear on the invoice
- appear on the purchase order screen at the time the order is place
- appear on the purchase order as further instructions to the Supplier.
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Extra Tab
In addition to showing you when the last price update on this item occurred – the Extra area also tells you who made it.
Increase your control over inventory by setting:
- pack size
- unit size
- high level (maximum inventory level)
- low level (minimum inventory level)
- number of lead days required for order
The setting of the high and low levels will enable SpeedyPOS™ to identify suggested purchase order items – saving you the time and expense of inventory level tracking. Every time a transaction changes your inventory level – the system checks to see if the low level (re-order point) has been reached.
Kits Tab
Two types of kits are available in SpeedyPOS™ - the Information Only kit that is used to group similar items together for ease of processing (see Matrix information below) – and the Tag-Along kit.
The Tag-Along kit allows you to combine several inventory items into one ‘kit’ under one item number.
When the kit is entered in a Sales transaction – it ‘explodes’ on the transaction screen and invoice – showing all the items in the transaction. Increasing accuracy and saving time.
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Sales History Tab
This invaluable section shows the sales history of the item in report, and graph format – giving you the information you need to better predict item seasonality and performance.
In addition, you can view reports to see which of your customers have purchased this product.
Reduce inventory costs by using the sales history of each item to quickly and accurately predict optimal inventory levels.
Purchase Orders Tab
You won’t need to hunt through POs to find information on a specific item ever again. Quickly check the current POs that the inventory item is on and the quantity ordered – or add the item to a new Purchase Order.
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Alternate Suppliers Tab
Keep track of the alternate suppliers who can also provide this item.
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Taxes Tab
Setting up the applicable inventory taxes is easy with SpeedyPOS™ Retail POS Software. The Taxes tab makes assigning taxes to inventory items fast, accurate and easy. Taxes are customizable to your unique location requirement.
Size Matrix Tab
The Size Matrix Tab offers a powerful tool for those who routinely stock items in multiple sizes and colors, or other two-dimensional formats. Using the Size Matrix allows for rapid receipt and ordering, tax assignment, and pricing of like items – as well as increased control.
Even though you can work with related items in the Size Matrix – each item has its own inventory record – which means that you will be able to have the functions available in the regular inventory system – available to Matrix items.
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