Effective replenishment is the backbone of any retail business. For this, factual inventory data is mandatory. Fine tuning the retail system to achieve this is the need of the hour.
Earlier, the HO didn’t have a clear visibility on what packed goods are pending at the store end until it got tagged in packet document. For instance, if store A has 10 goods and out of which 4 are packed for dispatch to store B. So store A has 6 goods in stock and 4 are pending packets. But HO is still under the impression that store A has stock above the threshold value (suppose 8) which results in ineffective replenishment planning.
But this isn’t a problem for Ginesys users anymore!
Ginesys has introduced a new field “Packet status” in the inventory management software so that head office (HO) can trace the pending packet information. “Packet Status” field is incorporated in the Ginesys inventory management software. Once a pending packet is packed at a store, the packet status is updated from “open” to “close”. The “close” packet status will be synced to the HO and he can then replenish the stock at the store accordingly.
Thus, this enhancement will help the HO in differentiating between the stock and pending packets. Even if the packed goods are not sent from the store, HO will know the actual stock.
And hence, HO can do up-to-the-minute stock replenishment which will lead to efficient inventory management.
Imagine having all of your products at separate locations. Now imagine trying to deliver a product from each of those distribution centers to different locations. There are two ways of doing it : 1. Send it directly from one location to other. 2. Collect them at single location and bundling the items to be sent to same location into single consignment and then sending the same.
Although the option 1, in theory, i.e operating multiple distribution centers doesn’t sound so bad. However, the logistics of running multiple distribution centers or origins for products can become a nightmare to manage in terms of Time ,Traceability and Logistics costs.
Ginesys Retail Software now has the option to manage the logistics centrally in which there will be a central distribution center in each of the regions defined. All the items, to be sent get collected at a centralized distribution center and bundled into single consignment meant for target location. These consignments are then dispatched to target locations. To achieve this you can fix the route, through which it will be transferred, in the software itself and make it a standard practice to follow.
With this option you can achieve operational excellence as it results in
- Easy tracking
- Reduced costs
- Timely delivery
Note: This feature is specifically for V11
Dead Stock or damaged stock in an inventory has always been a major cause of concern for retailers. It results in unnecessary inventory holding cost, which affects the opportunity cost of the money that has been blocked with that item. Retailers are always looking for a way out to dispose off this dead stock at a reasonable price.
One way of disposing this stock is to sell it off at a lower price. For this, barcode for the damaged item needs to be changed, to make it as a separate entity in the inventory. A POS software should be such that it should support this split option. Earlier the splitting of the barcode was done only at the HO level and was a very time consuming activity . Now this feature is available at the POS level. The operator can generate a new barcode for the damaged item which gets updated in the inventory, after that the item can be sold off at a lower price.
Use split option at Ginesys POS to dispose off your damaged stock!
For any wholesaler / manufacturer / retailer purchasing inventory in a large volume from a single supplier, it has always been a tedious and task to reconcile the supplier bills with supplier payments. One needs to manually go through all the bills and payments in the accounting software at the month end to mark the payment with a corresponding bill. It becomes more complex when the size of the business increases.
Ginesys now has a feature where you just enter the bills and the payments in the warehouse software. At the month end you can just click reconcile option and it will settle the bills against payments on FIFO basis on its own. This will not only save the time but will also help in minimizing the human error as system in doing the reconciliation.