Inventory management can be a daunting task. Here is a list of features that will simplify this process.
Categories and Products
In order to add inventory to the system, Categories and Products must first be created in Admin > Scheduling/Retail.
Suppliers
Suppliers are used in zingfit to identify where your inventory is coming from. It is recommended to have an Inventory Management supplier to help identify Purchase Orders created to fix inventory discrepancies.
Purchase Order
Purchase Orders (POs) are used to add physical inventory to your system and to correct Negative Inventory counts. POs are then used to distribute the merchandise to the studio(s). Each Product should only ever be on the Purchase Order once. If you need to add more to an existing Product simply add to the Qty listed in the Purchase Order.
Negative Inventory - Any time an item is sold or added to the system without being on a Purchase Order
Studio Receiving
Once the inventory items have been distributed to the Studio(s) you will need to receive them in order to add them to that studio's inventory.
Current Stock
This page allows you to view, filter, and search your Products to see their current in-stock levels, how many negatives each item has. If you should reorder the item, and also allows you to transfer items from one studio to another. The bottom portion of this page will show each individual Negative Inventory instance, but use the Negative Inventory column to better identify how many negatives you have for each item.
Physical Count
A Physical Count session is created any time when you need to reduce the count of an inventoried Product. Only items that are IN STOCK will be displayed here. This should not be used to increase the count of an inventoried item, as doing so will create a Negative Inventory. Consider having a process in place to regularly perform Physical Counts and make adjustments.
Correcting Negative Inventory
As mentioned before, a Negative occurs when a Product is sold or adjusted but wasn't on a Purchase Order. The more often you manage your inventory the fewer negatives you will likely have to worry about.
It is important to know that fixing Negative Inventory will retroactively fix your cost/profit reporting. If you find that an item does not have a listed Cost in reports it is negative. Fix the negative to fix the reporting.
Inventory Value Report
This report shows you your total inventory value, as well as the value broken down by Product. The Inventory Percentage can be used to further manage inventory, allowing you to identify slow-moving Products or items that you have a disproportional in stock, usually referred to as overstock. To avoid overstock, you may want to want to consider how long it takes for you to receive and process items and compare that to how many you sell within that period of time. Consider this when setting a Product's Reorder Point. Ideally, you never want to be out of stock, and you never want to be stuck with too much of one thing.
Navigate to Admin > Scheduling/Retail > Inventory Value Report
Filter by Studio, Date, Time
Exportable
Transaction Log
This simple report will export the Inventory Transaction history for each item in a CSV file. This only shows how many of each item was sold, adjusted, or transferred within the selected Date Range.
Removing Items From Your Inventory
If you need to remove an item from your Products page (you are no longer selling the item for example) verify that you do not currently have that product in stock before deleting it. This is true for each SKU (sizes, colors, etc.) created for that Product as well. Furthermore, verify that the item does not have any Negatives in the system as the item must be in the system to add it to a PO.