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         October 23, 2017     Login 
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Tools

Inventory Management

The IRIDIUM Retail Management Software tool enables inventory management based on inventory regions and locations, primary vendor, and inventory type. Detailed information on incoming orders, received items, and deliveries/pickups is displayed for each inventory item and is translated into allocations, purchases, and receiving.

Warehouse Management

Existing information for items located at distribution centers and active and inactive retail locations may be edited through the tool.

Merchandise Transfer

Transfers can be created from any location, regardless of inventory origin. The sending location enters the actual quantity sent (which may or may not match the requested quantity), and the receiving location receives the quantity that was sent.

Physical Inventory

As a method of inventory control, physical inventory management provides a means of comparing system-generated inventory with manually (hand written, scanned barcode, or UPC symbol) generated inventory.

  ProductsInventory
  

Inventory Management:

Benefits:

  • Detailed information on incoming orders, received items and deliveries/pickups are displayed for each inventory item and is translated into allocations, purchases and receiving
  • Several options for tracking item serial numbers Iridium categorizes every inventory transaction in one of three ways
    • 1: as an addition to the inventory- occurs with a new purchase, a use purchase, a transfer in, or a customer return
    • 2: A reduction in inventory- may be a sale, a transfer out or a vendor return
    • 3: An adjustment to inventory- accounts for cost adjustments or physical adjustments
  • Pre-define unique minimum stocking totals for each location
  • Minimum stocking levels with a pre-defined reorder quantity are used by the Purchasing System or the Merchandise Transfer process to help automate their creation

Inventory Management

   
Inventory Management based on inventory regions and locations, primary vendor and inventory type  
When adding new inventory items to the system, the tool records detailed information for each new item, including:  
      • The unique item number/SKU  
      • A text description of the item  
      • The user-definable item type  
      • the sale amount  
      • suggested retail and corporate prices  
      • item weight
      • primary vendor 
  • User definable item attributes (such as size and color) may be stored in the system and attached to the item  
  • Default selections for printing item tags and specifying re-order points, re-order quantities, and cost adjustments are also available from this screen  
  • to track serial numbers at every point of inventory quantities are recorded, such as in receivings (for every item received) or when an item is sold and delivered (requiring the serial number to be selected from a comprehensive list)  
  • Each location can be defined a unique minimum and maximum item count   
  • Track serial numbers for items sold to customers, the system can be configured to require entry of the serial number at the time of customer possession  
  • Prints a reminder on the invoice or delivery ticket instructing the delivery person to manually record the serial number on the document

Inventory Costing  

  • Costing of inventory within the system is calculated on an average cost basis, either by location or across all locations  
  • When inventory is purchased, the total value of the inventory is purchased, the total value of the inventory on the purchase order is added to the total value of the items currently in inventory  
  • The value is then divided by the total number of units, and a new average cost value is generated

Inventory History

On-hand, allocated, and on-order inventory quantities may be broken down on a date-by-date, case-by-case basis

Inventory Transaction Inquiry     

Inventory inquiries from transactions created, sent, or received during a specified time frame may be generated as a means of inventory control

Inventory Stocking Levels

Each location can have a maximum value of inventory, preventing entry of merchandise transfers or purchase orders

Barcode Information

  • Items may be selected in the Inventory Management System by physically scanning a barcode or UPC symbol at the point of sale  
  • Varying information, contained within the barcode or UPC symbol, may be configured to automatically populate the sales order and invoice fields within the tool  
  • Stock status reports may be generated for any given date to reflect the value and quantity of inventory at that time

Warehouse/ Location Management  

Existing information for items located at distribution centers and active and inactive retail locations may be edited through the tool, new locations may also be added

Merchandise Transfer

  • Inventory Transferred from one location to another by creating a merchandise transfer  
  • Transfers can be created from any location, regardless of inventory origin  
  • The sending location enters the actual quantity send (which may or may not match the requested quantity), and the receiving location receives the quantity that was sent  
  • All transactions affecting inventory are recorded, capturing details of the transaction, including the individuals performing the entry  
  • Transfer inquiries may then be performed on the merchandise transfer (regardless if it is open, closed, or voided) to verify the correct item (s) were transferred to and from the specified locations and to update the received quantities accordingly

 
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