The inventory management systems in most point-of-sale programs are simply a computerized version of managing stock by hand. Paladin POS is different. We look at all sales history including seasonality, special orders, promotional adjustments, minimum order quantities and many other factors. We use that massive amount of data to calculate suggested reorder quantities that will keep just enough stock on hand for every item to meet any reasonable demand and give you the maximum ROI. Our calculations have been refined and tested over the past 30+ years to create the best system for automated, market-driven inventory management in the industry.
When a Suggested Order report is generated, Paladin looks at every line of every invoice ever written to determine stock needs for each item. It knows how many sell at a time, the time of year the item typically sells, and what items are commonly sold with the item. All of this compiled data results in an extremely accurate stock needs forecast. No manual controls are required to achieve these results. It’s all automatic with Paladin, even for difficult-to-manage situations like job-pack quantities, high cost/low margin/low volume items, and items with sporadic high sales quantities.
The more you allow Paladin to do what it was designed to do, the less you will have to micro-manage the reorder process. We also understand that every store is different and has different needs. In order to allow for flexibility and customization in inventory control from store to store, Paladin offers a number of user-defined controls. The Stock Days control allows the broadest stroke and indicates how many days of salable inventory you want to own. You can also fine-tune individual items or departments to account for exceptions.
You can spend a few hours a week or less managing the exceptions and special circumstances, or you can spend many hours a day tweaking the controls and overriding the built-in power of Paladin. Over the next few weeks and months we will be providing additional information on best practices for inventory management, including managing special circumstances, detailed descriptions of all of the inventory-related fields, and more. We hope a better understanding of what goes on behind the scenes will help you save time, make you more money and provide the best return on your investment in Paladin.
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