Stock Management

  • stock management feature image

Introduction

The Shopwave Stock/Inventory Management feature enables business owners to accurately manage accounts for product availability. Perpetual reconciliation and supplier management ensures that business operations are running efficiently at all times. The entire Shopwave Stock/Inventory Management suite is available via your online dashboard from any device.

Real-time Inventory Management

A retailer is able to keep track of product sales vs. product wastage and product stock, which ensures that a live stock level is available at all times per product. This can be enabled for all products or a small subsection of products. Live stock details can be viewed/exported as a report.

Handheld Stocktake

A manager is able to run a stocktake on behalf of a store using a handheld iPad. There is no need for pen+paper as the stock counting screen has simple button and number-based input.

Perpetual Reconciliation

When a manager runs a stocktake or adds an invoice for newly purchased stock, our perpetual reconciliation feature ensures that stock numbers remain correct. In some cases, a product may be oversold, but is then flagged up upon the next stocktake / stock invoice and it fixable inline. All reporting is based on this reconciliation improving ongoing accuracy.

Supplier Management

A retailer is able to keep track of suppliers per product when an invoice is created. Price, VAT and order quantities are attributed to each supplier product. Supplier product margins are then calculated off of the back of this data. Recent supplier information can be viewed/exported as a report.

Wastage Control

A business is able to track wastage per product on behalf of every individual store. Wastage is calculated automatically as a result of the perpetual reconciliation process. Historic wastage can be viewed/exported as a report.

How to?

Stores Tab

Access stock management features by selecting the 'Stores' tab on your admin dashboard. Select a store from the list and your dashboard will be displayed with stock related options.

Products in stock

The 'Stock' tab will display all products you have previously added invoices for. This is your current stock level. If you sell an item using your Shopwave app, it will reflect in the stock level on this page. To add stock via a new incoming stock invoice, tap the '+' icon.

Stock Invoice

When stock is delivered you can record this by selecting 'stock invoices'. This page also displays historical stock invoices. Tap 'New' to add a new invoice.

Supplier

Fill in the supplier details. If you have previously used the supplier the details will auto fill for you. The product will auto fill from your existing product list. The stock level will be adjusted by the quantity in the invoice. Select 'Complete' when finished.

Reconcile

Your products are listed and you can enter the stock you have in-store in to the fields on the right hand side. If you cannot complete the stock take, save it and access it later via the main stock take page. When you have entered all the stock you want to, select 'Reconciliate'.

Discrepancies

You can also enter notes for discrepancies / wastage. If your stock take is higher than your stock level, a store invoice will be created on your stock invoice page. If your stock take is lower than your stock level, this will be reported as wastage in your reporting.

Feature Video

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