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Woodstock^©
Financial Systems

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Inventory Management

The WoodStock^© Inventory Management module was designed to assist you in managing your inventory based on up-to-date information. As customer orders are processed, or items are received, item stock status is immediately updated so that balances reflecting items available for sale are current. Additionally, sales history for preceding twelve months is collected for each item, and along with seasonal weighting factors, weeks stock desired, vendor lead time and weeks supply on-hand, provide you with information necessary to make informed buying decisions. With WoodStock^©, you can have surplus and obsolete inventory reported on demand, calculate reorder levels and notify purchasing when an item should be reordered, and report on canceled back orders daily. WoodStock^© will help you manage your inventory so that investment dollars are transferred from slow moving items and used to establish higher service levels in the items generating the most sales and contributing the most profit. WoodStock^© makes it possible for enterprises such as yours to actually reduce their inventory investment substantially while maintaining or even increasing their customer service levels, and to simultaneously increase their inventory turns.

Highlights
• Definition of conversion factors for different selling, pricing and purchasing units-of-measure.
• Printing of item bin labels on demand.
• Detailed monthly audit trail of all inventory transactions.
• Perpetual inventory tracking takes place immediately upon the entry of customer orders, point-of-sale invoices, stock receipts or inventory adjustments.
• Reporting of limited demand for items not stocked and lost sales due to out-of-stock conditions.
• Supports multiple locations, warehouses, branches, yards or stores and inter-company transfers between these locations.
• Maintains twelve months of item sales history by location.
• Automatically supersedes items with replacement items to minimize lost sales.
• Average cost maintained for each item for profit calculations.
• Inventory valuation based on average cost, base year LIFO, last cost, last end of year cost.
• On-line inquiry across multiple locations for stock status and prompt filing of customer orders from another location.
• Multiple item bin locations have been added where items may be stored in multiple locations and the quantity kept in each location is tracked.
• Price/costs increases by Product Line/item reporting.
• On demand, unfilled customer orders can be compared to current stock levels.
• Track sales of item groups against pre-established sales goals.
• Prints obsolete inventory report of items not moved within 6, 24, and 36 months to help you focus on moving these items and thus reduce your investment in slow movers.
• On-line inquiry to inventory movement, sales and profitability for each item.
• Automatically interfaces sales and cost-of-goods sold to the General Ledger System
• Prints profit exception reports of items not priced within the acceptable margins you have established.
• Allows for price changes to be pre-entered and then to take effect on the day you want established.
• Produces inventory earns, turns and GMROI reporting by product line.
• Vendor communication for automatic price updates.
• Price book printing.
• Supply on-hand in days.
• Stock turns to compare to industry averages.
• Service level automatically calculated.