Advanced Inventory Control (FIFO)
"Fresh always sells best"
Once your inventory has been entered into POS you will now have the ability to set up items to be on Advanced Inventory. Inventory is valued on a first-in-first-out (FIFO) basis rather than using the weighted average approach of the Basic module. The FIFO method provides more precise inventory valuation because stock purchased at different times and at different costs is recorded separately and the oldest inventory is removed first. Furthermore, if merchandise is purchased on deal to be sold on an advertised promotion, this merchandise is removed first when sold during the promotional period.
Advanced Inventory Control (Holding Tank)
"Fine tune profits by eliminating errors"
The Advanced Inventory Control module also provides you with the unique benefit of the Holding Tank. This intuitive feature isolates items that have been sold with incorrect costs, negative margins or insufficient inventory. These items are then placed in the Holding Tank, allowing you to fix incorrect information before it is permanently written to sales history. This way, the integrity of your data is preserved automatically rather than through the manual process of "hunting" for errors.