Ordering / Purchasing
"You can't sell what you don't have"
Maximize your sales potential by never being out of stock. Replenishment Purchasing is ideally suited to new users who are just getting started with POS. It is also a good supplement to other forms of recommended ordering, such as Scientific Purchasing, as it will allow you to generate a "fill-in" order to your wholesaler quickly and effortlessly when you are pressed for time.
The optional Replenishment Purchasing module will automatically recommend stock to be replaced after it has been sold. For example, if six units of a product were sold since you last placed an order; the system will recommend you purchase six units when you place your next order. With this method you don't need to set up any ordering criteria. In fact, you don't even need to maintain inventory in order for this method to function—simply select the date range for the order.
"The right product at the right time"
Where the Replenishment method merely replaces inventory that has been sold, Scientific Purchasing uses sophisticated calculations to forecast your inventory requirements. This method will ensure that you order only what is in demand and that you do not replace stock that is unpopular or out-of-season. To accomplish this, the optional Scientific Purchasing module uses a combination of statistical tools to measure trends and then predict future requirements based on those trends. Linear regression is used to determine average daily demand for past periods. This average is then used to predict how much stock you will sell until your next order is received. Changes in the retail price due to promotions or price increases are also considered, as are current inventory on hand, orders due to arrive, bonus sizes, case packs and seasonal fluctuations in demand.