THE INVENTORYMANAGEMENT GAME: Using RQ4 To Win  Kris Rogers & Jeff Wilson      Retail Management
AgendaIntroductionPart I: New Features and Advanced ToolsPart II: Three-Step Automated Ordering Process:Part III: Inventor...
Inventory is like an apple…
Why Do We Manage   Inventory?
How Do We Know We  Are Doing Well?
Inventory Turns•  Important Metric is: Inventory Turns•  Definition: Number of Times the Average Inventory   Investment is ...
What If We Do It   Poorly?
6 Inventory Management BestPractices" Craig Harding, President of Direct Tech, Inc.,  provider of demand planning, invento...
6 Inventory Management BestPractices: Craig Harding2.   Dedicate your business to accurate data.     Garbage in still resu...
6 Inventory Management BestPractices3.   Maintain the quality of communications     between marketing, merchandising and  ...
6 Inventory Management BestPractices: Craig Harding4.   Apply top-down controls to align bottom-up   item plans with budge...
6 Inventory Management BestPractices: Craig Harding5.   Reduce time from processes wherever     possible.
6 Inventory Management BestPractices: Craig Harding6.   Apply time against the 20 percent of your     inventory problems t...
How RQ4 Can Help…
…the RQ4 Tool BeltMIN/MAX Calculator                                 END OF LIFE      WRITE-OFF                         DO...
Did You Know…???
You Can Lock RQ4…
…To Lock RQ4" Press Control & L to Lock RQ4" Or Set Idle Time in Role Management
Part I: New Featuresand Advanced Tools
Aged Serial Number Status Widget
Aged Serial Number Status Widget
Aged Serial Number Status Widget
Aged Serialized Sales Status Report
Back Order ETA
Back Order ETA
Special Order
Write Off
Write Off –QuantityAdjustments
Write Off - InventoryQuantity Adjustment
Write Off - InventoryQuantity Adjustment
Discontinued
Discontinued
End Of Life
End Of Life
Do Not Order
Do Not Order: Purchase Order
No Sale
No Sale
Purchase Order Edit Field
Part II: Three StepAutomated Ordering       Process
Three Step Automated OrderingProcess" Step 1: Set Min/Max" Step 2: Stock Balancing: Auto Transfer In / Out" Step 3: Auto P...
Step 1: Set Min/Max
Product with Sales HistoryWe use the sales history in the Min/Max Pricing Report.
Min/MaxPricingAdjustmentsReport
Min/Max Calculator" Period is critical: Best Practice   "   Accessories: 21 days   "   Phones: 14 days" Set Min Qty:   "  ...
Min/Max: Sales History
Min/Max: Adjusting Values" Adjust Min or Max to a fixed value" Adjust Min and Max by % for Seasonality or  Promotions (can ...
Product with No History(New Product)" Create the product in inventory" Set Min/Max for first orders" Lock Min/Max
Create New Product: Blackberry•  Right Click on Existing Blackberry Torch and   Create Similar
Blackberry Torch 2: Fill in the Blanks
Min/Max Location Type" Can narrow down search by store volume or  size   "   Select A Stock Location to set min max for   ...
Min/Max Location Type" This will pull up only those stores that are part of  that location type
Min/Max for New Products
Lock Min/Max Settings" Until you have history, you should lock min/max  numbers
Step 2: Stock   BalancingAuto Transfer In | Auto Transfer Out
Auto Transfer In•  From All Stores to One Location" Recalls: From All Stores to   Corporate Location
New Transfer Request
Email Transfer Request
Auto Transfer Out" From Warehouse to Locations" Between Locations
Creates Transfers: One per Store
Step 3: AutoPurchasing
Auto Ordering
Auto Ordering: One PO per Vendor
Auto-Generated Purchase Orders
Auto Ordering: Import
Did You Know…???
You Can Restrict Selling Into the   Negative…
Restrict Negative Selling
Part III: Reports You   Need to Know
Inventory counts
Update Committed Count Sheet – Mass Edits
Did You Know…???
You Can CreateInventory Adjustment    Reason Codes
Inventory Adjustment Reason Code
Stale Inventory Report
Moving ProductsFrom Non-Sellable
Non Sellable Products Report
Moving Products To  Non-Sellable
Non-Sellable Products Report
Sales History Report
Product Tracking Report
Accessory Products… OR
Lifecycle of One Serialized Product
Over Receiving Inventory Report" allows you to see who is over receiving inventory
ProductImports
Regular Product,   Non Stocked,  Vendor Rebate     Master List
Regular Product Master List
Mass Price Change Now Available
Select Locations…
Master List Also Includes:  •  Do Not Order, Back Order ETA  •  Special Order , EOL  •  And Write Off
Auto Ordering Report:        Alternate Use
Auto Order Report: Alternate Use
Summary" RQ4 has introduced The Tool Belt to shave time  from every work flow." The Automated Ordering Process ensures you ...
Latest RQ4Enhancements areProof that we are…
…WINNING!!!The Inventory Management Game
iQmetrix.com | 1.866.iQmetrix       © 2011 iQmetrix. All right reserved. iQmetrix, the iQmetrix logo, RQ4 and other tradem...
Inventory Management
Inventory Management
Inventory Management
Inventory Management
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Inventory Management

  1. 1. THE INVENTORYMANAGEMENT GAME: Using RQ4 To Win Kris Rogers & Jeff Wilson Retail Management
  2. 2. AgendaIntroductionPart I: New Features and Advanced ToolsPart II: Three-Step Automated Ordering Process:Part III: Inventory Reports You Need to Know
  3. 3. Inventory is like an apple…
  4. 4. Why Do We Manage Inventory?
  5. 5. How Do We Know We Are Doing Well?
  6. 6. Inventory Turns•  Important Metric is: Inventory Turns•  Definition: Number of Times the Average Inventory Investment is sold per year.•  Average Inventory Turns Should be between 6 and 12 times per year.•  Average Turns for our Clients is 5.24 turns.
  7. 7. What If We Do It Poorly?
  8. 8. 6 Inventory Management BestPractices" Craig Harding, President of Direct Tech, Inc., provider of demand planning, inventory optimization, merchandise planning and analysis software. 1. Manage simple, consistent success metrics, such as fulfillment, turnover and gross margin return on investment.
  9. 9. 6 Inventory Management BestPractices: Craig Harding2. Dedicate your business to accurate data. Garbage in still results in garbage out.
  10. 10. 6 Inventory Management BestPractices3. Maintain the quality of communications between marketing, merchandising and buyers. 
  11. 11. 6 Inventory Management BestPractices: Craig Harding4. Apply top-down controls to align bottom-up item plans with budgets.
  12. 12. 6 Inventory Management BestPractices: Craig Harding5. Reduce time from processes wherever possible.
  13. 13. 6 Inventory Management BestPractices: Craig Harding6. Apply time against the 20 percent of your inventory problems that will deliver 80 percent of the benefit. 
  14. 14. How RQ4 Can Help…
  15. 15. …the RQ4 Tool BeltMIN/MAX Calculator END OF LIFE WRITE-OFF DO NOT ORDER LOCK MIN/MAX MASS INVENTORY EDITING MASS INVENTORY ADJUSTMENT TOOLS IMPORT/EXPORT MIN/MAX AGED SERIAL NUMBER WIDGET MANY OTHERS…
  16. 16. Did You Know…???
  17. 17. You Can Lock RQ4…
  18. 18. …To Lock RQ4" Press Control & L to Lock RQ4" Or Set Idle Time in Role Management
  19. 19. Part I: New Featuresand Advanced Tools
  20. 20. Aged Serial Number Status Widget
  21. 21. Aged Serial Number Status Widget
  22. 22. Aged Serial Number Status Widget
  23. 23. Aged Serialized Sales Status Report
  24. 24. Back Order ETA
  25. 25. Back Order ETA
  26. 26. Special Order
  27. 27. Write Off
  28. 28. Write Off –QuantityAdjustments
  29. 29. Write Off - InventoryQuantity Adjustment
  30. 30. Write Off - InventoryQuantity Adjustment
  31. 31. Discontinued
  32. 32. Discontinued
  33. 33. End Of Life
  34. 34. End Of Life
  35. 35. Do Not Order
  36. 36. Do Not Order: Purchase Order
  37. 37. No Sale
  38. 38. No Sale
  39. 39. Purchase Order Edit Field
  40. 40. Part II: Three StepAutomated Ordering Process
  41. 41. Three Step Automated OrderingProcess" Step 1: Set Min/Max" Step 2: Stock Balancing: Auto Transfer In / Out" Step 3: Auto Purchasing Report
  42. 42. Step 1: Set Min/Max
  43. 43. Product with Sales HistoryWe use the sales history in the Min/Max Pricing Report.
  44. 44. Min/MaxPricingAdjustmentsReport
  45. 45. Min/Max Calculator" Period is critical: Best Practice "   Accessories: 21 days "   Phones: 14 days" Set Min Qty: "   How many days from order to receipt of product" Set Max Qty: "   How often do you wish to order product
  46. 46. Min/Max: Sales History
  47. 47. Min/Max: Adjusting Values" Adjust Min or Max to a fixed value" Adjust Min and Max by % for Seasonality or Promotions (can be positive or negative %)" Can set the Order column to a fixed number
  48. 48. Product with No History(New Product)" Create the product in inventory" Set Min/Max for first orders" Lock Min/Max
  49. 49. Create New Product: Blackberry•  Right Click on Existing Blackberry Torch and Create Similar
  50. 50. Blackberry Torch 2: Fill in the Blanks
  51. 51. Min/Max Location Type" Can narrow down search by store volume or size "   Select A Stock Location to set min max for new products "   This will pull up only those stores that are part of that location type
  52. 52. Min/Max Location Type" This will pull up only those stores that are part of that location type
  53. 53. Min/Max for New Products
  54. 54. Lock Min/Max Settings" Until you have history, you should lock min/max numbers
  55. 55. Step 2: Stock BalancingAuto Transfer In | Auto Transfer Out
  56. 56. Auto Transfer In•  From All Stores to One Location" Recalls: From All Stores to Corporate Location
  57. 57. New Transfer Request
  58. 58. Email Transfer Request
  59. 59. Auto Transfer Out" From Warehouse to Locations" Between Locations
  60. 60. Creates Transfers: One per Store
  61. 61. Step 3: AutoPurchasing
  62. 62. Auto Ordering
  63. 63. Auto Ordering: One PO per Vendor
  64. 64. Auto-Generated Purchase Orders
  65. 65. Auto Ordering: Import
  66. 66. Did You Know…???
  67. 67. You Can Restrict Selling Into the Negative…
  68. 68. Restrict Negative Selling
  69. 69. Part III: Reports You Need to Know
  70. 70. Inventory counts
  71. 71. Update Committed Count Sheet – Mass Edits
  72. 72. Did You Know…???
  73. 73. You Can CreateInventory Adjustment Reason Codes
  74. 74. Inventory Adjustment Reason Code
  75. 75. Stale Inventory Report
  76. 76. Moving ProductsFrom Non-Sellable
  77. 77. Non Sellable Products Report
  78. 78. Moving Products To Non-Sellable
  79. 79. Non-Sellable Products Report
  80. 80. Sales History Report
  81. 81. Product Tracking Report
  82. 82. Accessory Products… OR
  83. 83. Lifecycle of One Serialized Product
  84. 84. Over Receiving Inventory Report" allows you to see who is over receiving inventory
  85. 85. ProductImports
  86. 86. Regular Product, Non Stocked, Vendor Rebate Master List
  87. 87. Regular Product Master List
  88. 88. Mass Price Change Now Available
  89. 89. Select Locations…
  90. 90. Master List Also Includes: •  Do Not Order, Back Order ETA •  Special Order , EOL •  And Write Off
  91. 91. Auto Ordering Report: Alternate Use
  92. 92. Auto Order Report: Alternate Use
  93. 93. Summary" RQ4 has introduced The Tool Belt to shave time from every work flow." The Automated Ordering Process ensures you have the Ripe Apples at the right place at the right time." The reporting enhancements allow for detailed analysis: "   new reports "   new features within reports.
  94. 94. Latest RQ4Enhancements areProof that we are…
  95. 95. …WINNING!!!The Inventory Management Game
  96. 96. iQmetrix.com | 1.866.iQmetrix © 2011 iQmetrix. All right reserved. iQmetrix, the iQmetrix logo, RQ4 and other trademarks, service marks, anddesigns referenced in this material are the exclusive property of iQmetrix Software Development Corp. and/or its subsidiaries.
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