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How to handle stocks and manage inventory using insightstock360 PowerPoint PPT Presentation


The new ways of handling your business may be many, but you need to choose the specific way how you want to deal with it. With the advancement in each field, the business world too has had tremendous progress. With the regularized technology that has not only invented a variety of machines to increase the productivity of the entrepreneur, but it has also improved to keep a note of other business activities. http://stock.insight360.co.uk/inventory-control-system/

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How to handle stocks and manage inventory using insightstock360

How to Handle Stocks and Manage Inventory

using insightstock360

Presented By:-

Presented By

Simon Burgess

[email protected]

8 The Courtyard, Harris Business Park, Bromsgrove, B60 4DJ

+44 - 844-870-7873

http://stock.insight360.co.uk/


How to handle stocks and manage inventory using insightstock360

What is Inventory Control

  • 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.

Importance of Inventory

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How to handle stocks and manage inventory using insightstock360

Inventory Control

Key Terms

  • Inventory

  • Inventory Management

  • Just-in-time Inventory system

  • Perpetual Inventory System

  • Physical Inventory System

  • Tickler Control


How to handle stocks and manage inventory using insightstock360

Inventory Control

  • Inventoryrefers 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.

Inventory Management


How to handle stocks and manage inventory using insightstock360

Advantages of Order Processing Software

Ajust-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.

Inventory Management


How to handle stocks and manage inventory using insightstock360

Advantages of Order Processing Software

  • 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

Inventory Systems


How to handle stocks and manage inventory using insightstock360

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-of-sale terminal automatically feeds sales transaction data directly into a computer.


How to handle stocks and manage inventory using insightstock360

Advantages of Order Processing Software

  • Under a physical inventory system, stockis 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.

Physical Inventory System


How to handle stocks and manage inventory using insightstock360

Advantages of Order Processing Software

  • 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.

Physical Inventory System


How to handle stocks and manage inventory using insightstock360

Advantages of Order Processing Software

  • Many businesses use both inventory systems.

  • The perpetual system gives an up-to-date 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.

Using Both Systems


How to handle stocks and manage inventory using insightstock360

Why Choose Us?

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

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

Insightstock360 is flexible Web based

Inventory Control system that suits every kind of business.

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


How to handle stocks and manage inventory using insightstock360

Contact US

[email protected]

8 The Courtyard, Harris Business Park, Bromsgrove, B60 4DJ

+44 - 844-870-7873

http://stock.insight360.co.uk/

https://www.facebook.com/InsightStock360/

https://twitter.com/360insightstock

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


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