Product Lifecycle Management
The MMS POS Inventory module has many tools to optimize lifecycle management of products. Some of the key features include:
Integrated purchase order capability - Inventory items can be added to a purchase order, and then the PO can be reviewed or automatically submitted to suppliers. When the stock arrives, receiving the items automatically updates inventory levels. This streamlines the ordering process.
Automated Purchase Order Generation – POs can be automatically generated based on a variety of factors. These include:
- Sales velocity (based on an item-specific number of tracking weeks)
- Supplier-specific order lead time
- Units sold since last order
This automated order creation results in significant time savings and applies rules around initial ordering, which offer the best possible original order point.
The resulting flexibility and nimbleness on the part of the retailer is key; now empowered with the knowledge of inbound stock, existing stock can be more effectively managed, or other suppliers leveraged for shortages. From this, optimized turns and increased customer service and satisfaction are natural by-products. MMS can also automatically balance inventory between stores and have items on POs pre-assigned to specific stores for drop-shipping or easy transfer on arrival to warehouse.