Stock control software online

Atari is a relatively small software company that has recently turned to crowdfunding in an attempt to re-enter it. What you may not know is that back in the s and early s, Atari was the pioneer of the home gaming market. It created some of the most iconic games that are still well-known today—household names like Pong, Space Invaders, Pacman, and Frogger.

It had the best selling console in Despite its incredible success, the company was soon on the brink of bankruptcy after suffering what is commonly considered one of the worst inventory disasters in business history. Miscalculations when projecting consumer demand led the company to produce millions of new games and consoles that went unsold. One of the biggest problems for Atari was the infamous E. The company was stuck with the costs of producing, storing and disposing of incredible amounts obsolete stock, and eventually decided to dump them in a New Mexico landfill.

This tale was actually considered urban legend until the landfill was finally excavated in and low and behold: a goldmine of obsolescence was unearthed. A real bummer, eh? This would more than outweigh the costs involved in implementing new systems and training staff in new processes.

If you have too little, you run the risk of disappointing your customers, driving them to your competitors, and damaging your brand image. Online consumers have come to expect a streamlined shopping experience that lets them order what they want when they want.

Even the most loyal customers are put off by out-of-stock messages, and many turn to competitors instead of waiting for you to reorder from your supplier. On the other hand, if you have too much, you risk having dead stock that will eventually require liquidation. It takes up valuable warehouse space that could be used for storing other products, and the carrying costs for keeping hold of the stock such as warehouse rental, insurance, utilities, security, and labor costs have to be taken from the profits of other, more successful products.

You can try selling it at a big discount, bundling it with other products, returning it to your supplier, or donating it to a worthy cause. Calculating the right amount of inventory requires you to estimate future needs based on historical demand.

You run an online store that sells hats. Your most popular hat sells at a rate of units a year D. To get an example of ideal stock amounts, you can try calculating the EOQ of some of your own products using an online EOQ calculator. But the price of your stock is more than just the order cost you pay to your suppliers. Ordering costs also known as setup costs are the costs that you incur every time you place an order.

Fixed ordering costs include fees for placing the order as well as clerical costs involved with communication and order processing. Variable ordering costs are based on the size of the order and include shipping, unloading and inspection fees. Carrying costs vary depending on the size of your business and the type of product you stock, but you can get a general idea of costs by using an online calculator.

Stockout costs refer to the extra costs involved with replacing out-of-stock products. A stock control software, incorporates all the functions are associated with inventory management or stock management and maintenance.

It should encompass everything from purchasing, product tracking and product turnover, to shortage inputs, shipping and receiving and re-ordering products. Stock control software offers live up-to date stock reporting, at-a-glance supplier information, demand forecasting, integration with other data base, multi-location tracking. No matter the size of business, proper stock control is crucial to profitability in a retail outlet.

We also switched to Zoho Books for our accounting management for its seamless integration with Zoho Inventory". What I love about it is the ease of use. Zoho Inventory helped us streamline and organize our business. Mobile app is very helpful as you can keep track of your customer requests even when you're travelling.

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