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RQ Retail Management: Connecting the Inventory Dots

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RQ Retail Management: Connecting the Inventory Dots

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This session will hone in on key inventory features many clients aren’t using, including: inventory settings, product attributes, inventory statues, discounting best practices. We will also......

This session will hone in on key inventory features many clients aren’t using, including: inventory settings, product attributes, inventory statues, discounting best practices. We will also highlight some lesser known but AMAZING inventory reports to show slow moving stock, best practice on ordering and advanced BI inventory reporting– why they matter, why sharing those numbers will change staff behavior. This session will also include “best kept expert inventory secrets” from clients, as well as insight on partner programs that work for them.

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  • 1. Connecting the Inventory Dots Kris Rogers and Nick Palazzo
  • 2. Agenda •  New Features, Settings, and Security •  Best Practices •  Inventory Counts •  Discounting •  Consignment Inventory •  Amazing Reports
  • 3. New Features
  • 4. New Feature #1 Duplicate IMEI/ESN No More
  • 5. New Feature #2 Non Revenue Product A little helpful addition
  • 6. New Feature #3 PO Warning Helpful heads-up
  • 7. New Warning to prevent bad data! We are implementing a warning to prevent clients from scanning an IMEI/ESN or barcode into the cost or quantity fields. v4.16
  • 8. New Feature #4 Count Sheet Modified Column Last Modified
  • 9. New Features •  •  •  •  Duplicate IMEI/ESN NRP Sku PO Warning Count Sheet Modified Column
  • 10. Important Settings
  • 11. Important Setting #1 Vendor Order Policy Ground rules
  • 12. Important Setting #2 Restrict Selling into the Negative I can’t sell something I don’t have
  • 13. POS Defaults - Sales Restrict ability to sell into negative QTY.
  • 14. Important Setting #3 Restrict Product RMA to Original Vendor Life is Good
  • 15. Limit Rejected RMAs
  • 16. Important Setting #4 Location Types Retail Location Type A, B, C etc…
  • 17. Great News! Location Type column is added to the Min/Max Pricing Report – v4.16
  • 18. Important Settings •  •  •  •  Vendor Order Policy Selling into Negative QTY Restrict RMA to Original Vendor Location Types
  • 19. Security Settings
  • 20. Security Setting #1 Do you want to complete this order? YES
  • 21. Complete Purchase Order
  • 22. Security Setting #2 Receiving a Purchase Order Hide the “Receive All” Button
  • 23. Ha-ha, Can't see it now
  • 24. Security Setting #3 “Sorry, when I completed the transfer I clicked - Receive All”
  • 25. Force the products to be reviewed
  • 26. Security Settings •  •  •  Complete Purchase Order Receive Purchase Order Receive Transfer
  • 27. Best Practices
  • 28. Best Practice #1 Inventory Counts
  • 29. Why Count?
  • 30. < 1 a month +29% Average $800 location Per month 1-3 times month -23% 1-3 times a week -48% >1 a day -57%
  • 31. Count Sheet Count Sheet generated for multiple categories
  • 32. RQmobile Inventory
  • 33. Who uses blind inventory counts today?
  • 34. Best Practice #2 Discounting
  • 35. What’s the big Deal? Answer: Product Cost
  • 36. Device Cost 2013: $420 2010: $282 33%
  • 37. Accessory Cost 2013: $11.39 2010: $5.51 107%
  • 38. Discountable Floor Pricing Coupons Discounting Sale Price Max PAW Disc
  • 39. We want to know – WHY? Discount reason codes that mean something •  Price Match – "Enter Store Name" •  Wrong Price – "How do you know" •  Employee Discount – 1 per month
  • 40. Team Approach
  • 41. Best Practice #3 Consignment Inventory
  • 42. Only 21% use consignment
  • 43. Track your Demo Devices What to consider… " Consignment Module " Inventory Counts " Auto Ordering Report
  • 44. “Include Consignment items in the Auto Ordering Report Virtual Quantity” UNCHECK this box!
  • 45. Who uses the consignment module today?
  • 46. Best Practices •  Inventory Counts •  Discounting •  Consignment Inventory
  • 47. Amazing Reports
  • 48. Report #1 Min / Max Report
  • 49. Use the Min Max for Auto Ordering
  • 50. Speaking of Auto Ordering… For those NOT using the Auto Order Report
  • 51. Consider the Auto Order report to SAVE time
  • 52. Report #2 Inventory Aging
  • 53. Report #3 Stale Inventory
  • 54. Additional Report Options Business Intelligence Inventory Reports
  • 55. BI Inventory Canned Reports Dead Stock Order Forecast Stock On Hand Stock Out
  • 56. Dead Stock Report
  • 57. Stock on Hand Report
  • 58. One last topic
  • 59. Release Notes
  • 60. iQmetrix.com | 1.866.iQmetrix © 2011 iQmetrix. All right reserved. iQmetrix, the iQmetrix logo, RQ4 and other trademarks, service marks, and designs referenced in this material are the exclusive property of iQmetrix Software Development Corp. and/or its subsidiaries.