In any retail business the key to success is to maintain a sales-to-stock ratio as high as possible. This means that we should be able to generate maximum sales with minimum stock.
Candela is capable of inventory management for head office, retail outlets, and synchronization of data between branches and head office. Inventory management enables the business to obtain a high service level with minimum stock-out (missed sales) cost.
- Gain insight into purchasing patterns – leading to better product placement.
- Increased selling /customer-facing time for managers and experienced staff.
- Reap financial benefits of locating inventory or conducting price lookups for customers on the sales floor.
- Real-time modifications to merchandising systems provides accurate snapshots of inventory movement and current inventory levels.
- Re-order level for every stock item (SKU) can be defined
- Re-order for same stock item may be different for different locations
- Analysis of slow moving and fast moving products can be easily done
- Order point analysis can be done to check:
- Stock items above max levels
- Stock items below min levels
- Automated adjustment of Re-order levels based on sales history
Physical Audits and Stock Takes
The system stores the result of physical inventory checks and reports any discrepancies. It is possible to perform inventory check manually and enter the results or to carry out this action through bar code reader.
- Candela allows to carryout physical audit of every “Rack” or “Cabinet” Separately
- Candela makes its very easy to feed the physical audit data
- We don’t need to freeze the operations, until physical audit is finalized and approved
- The system allows the users to reverse the implementation of physical audits.
- Hand held scanner (data collector) can be used for physical audits
- Extensive Support for Physical Audit along with Business operations