Liquor Store Need-to-Order Reporting
Managing a liquor store, or any retail for that matter, can be time consuming (and expensive) without proper inventory management. With today’s point of sale technology, liquor store owners, and managers, can accurately manage their inventory and order new product effectively. Here are a couple of tips that mPower Beverage clients utilize to maintain their costs and manage their inventory.
Discover Your Ideal Reorder Day
If you have a wholesaler that takes two weeks for the deliveries to deliver, it is important to know when you need to order that product from them. If you have a wholesaler that typically delivers within 24 hours, order a couple of days early in case the product gets broken on the way or is out of stock.
By utilizing need-to-order reports, you can cut not only your ordering time down, but order only the product that you are needing. Below are the need-to-order reports available and their explanations.
- Case Deal
- Some wholesalers will offer stores case deals if they purchase X amount of product. This report will show you how much of each product, depending on the deal, you will need to order.
- Ordering by Minimums & Maximums (Par Counts)
- By setting your par counts on a product, it will automatically be added to your need-to-order report when it drops below the product minimum.
- Day Supply on Hand
- This report will let you know how long your current inventory will last. The report will allow you to order product based on needs and how quickly it will sell out.
- All Stores
- This report is helpful for multi-location stores. You can easily see what product you need to order for all locations, not just one.
By knowing your ideal reorder day, you eliminate the possibility of not having a product a customer wants or simply running out of your top seller. When utilizing need-to-order reports, you can order just the right amount of product, essentially eliminating the possibility of over-ordering. By not over-ordering you are saving unexpected cost on product and shelf space that can be saved for something else.
To find the Need-to-Order reports in mPower, follow the steps below.
- Open Back Office
- Click on mPower Reporter
- Then My Reports
- Next, click on Item File
- Select the preferred report type