Inventory Control
The core component of Prism's comprehensive, total-enterprise retail solution is its exceptional inventory control system.
Tracking how much, where and what product you own, recording the movements of your inventory from warehouse to store, store to customer, between stores, and to and from vendors can seem overwhelming without the aid of a superior system.
- Item Information, Fashion Matrices and Kits, Coordinates
- Price Changes, Promotional Pricing, Markdowns and Multi-tiered Pricing
- Inventory Reports
- Physical Inventory
- Transfers
- Bar Codes
For example:
- You may decide you want an item to be part of a kit or coordinate.
- You may wish to track a sale that is not inventory related, a workshop or a repair service for example.
- The item has seasonal qualities that need to be segregated from traditional merchandise.
Kits and Coordinates allow you to link multiple items together and sell them under one item code. For example a skirt and blazer may sell separately at $150 a piece, however you can link the two together and offer them for sale at $269 under a unique item code for that particular coordinate. Prism proportionately tracks the sale under each item or by kit and reduces inventory accordingly.
Retail price, promotional prices, quantity discounts, markdowns, clearance, negotiated pricing, contract pricing, quantity discounts, customer type discounts, discounts at the register, tiered pricing, e-commerce pricing, catalog pricing are all simply and automatically tracked within Prism.
Price changes may be set for an effective date and automatically sent to your store registers. Clerks are notified automatically of these changes without any further intervention by management.
Promotional Pricing may be pre-established as far in advance as you wish with an effective start and stop date.
Multi-Tiered pricing may be a useful tool for establishing different pricing levels for retail customers based upon store locations or perhaps for your e-commerce transactions versus your traditional store transactions. Furthermore, you may offer special pricing on negotiated contracts, promotions for only your best customers, or quantity discounts. All are accommodated by Prism.
Markdown candidates are identified by Prism based upon our own proprietary algorithm. You may evaluate and manage performance on up to 3 markdowns per item: a first markdown, a second markdown and a clearance price.
Three of these reports include Inventory Valuation Report, our encyclopedic Audit Trail and our Variance Reports.
Inventory Valuation Report- Calculates the value of you inventory which can be sorted by any combination of location (specific, regional comparatively or in summary), department, vendor, class, item, category, customer price level and margin, manufacturer bar code with or without color and size combinations.
Audit Trail - Tracks all movement of inventory by time/date, employee ID, document number and displays a running balance of on-hand quantities.
Variance Report- Displays differences between system quantities and physical counts.
- Worksheets for employees to count merchandise
- Utilization of Portable Data Terminals
- Interface to third parties such as RGIS
Store to Store - A cashier may initiate a transfer directly from a register..
New Store Initial Allocation and Office Initiated Transfers - Management may generate a transfer document directly from the office identifying what should be transferred and to where it should go.
Warehouse to Store- Warehouse personnel, working off a purchase order, can follow a buyer's instructions of a transfer of received merchandise.
Prism provides up to 26 different formats ranging from large promotional tags to small barbell and rat-tail labels for delicate items.
