Financial Stock Control

Overview

Many retail businesses, such as Department stores, operate stock control at a Financial or category level rather than at a unit level. This enables management information about the performance of stock, sales and margins by Department or Buyer to be available but without the restrictions imposed by full unit stock systems.

Touchretail have been experts in the development of Category Stock Control systems for many years, and have always ensured that the Financial Stock Control module is an integral part of the financial management of any professional retail business.

While stock information is gathered from invoice processing within the purchase ledger, sales data may be processed electronically from either Touchretail’s EPOS systems or from third party systems, or indeed by manual entry.

The stock analysis may be up to 5 levels, but typically 3 levels are used: Buyer, Department and Stock Category. Buyer analysis and Department analysis are key management controls in most midsize retail businesses. Reports specific to the Financial Stock Control module include:

• Daily sales report, including Departmental Contribution
• Year on year daily sales comparison
• Weekly and period to date year on year sales comparison
• Weekly sales – actuals against budget
• Purchases by supplier, including margin
• Purchases by category, period to date and year to date, at cost, retail and margin
• ‘stock and profit’ report at cost and retail, providing opening stock, sales, transfers, adjustments, closing stock and realised margin – a real retailers ‘bible’!
• Stock variance report, by Category, including sales, purchases, closing stock and year on year performance figures.

Touchretail systems can be configured as a combination of unit stock and Financial Stock Control.