Retail User Training. IT Retail, Inc. 2010. Inventory Training Retail 7

Retail User Training IT Retail, Inc. 2010 Inventory Training Retail 7

RETAIL 7 User Training: Inventory Using RETAIL 7 ITRetail, Inc.

RETAIL User Training TABLE OF CONTENTS Inventory MANAGE INVENTORY... 1 INTRODUCTION... 1 INVENTORY COUNT... 1 Enter Inventory Count... 1 Inventory Count Report... 2 Exercise... 2 OPEN A NEW/REVIEW A PURCHASE ORDER... 3 Order Goods... 3 P. O. Adjustments... 4 Purchase Order Document... 4 Multiple Vendor Cost... 4 Find a P.O.... 4 Exercise... 5 RECEIVE AN INVOICE... 6 Receive Goods... 6 Cost Calculator... 7 Invoice Document... 7 Exercise... 7 INVENTORY ANALYSIS... 8 Analyze Inventory... 8 Calculations... 10 Inventory Analysis Report... 10 Exercise... 10 DSD DISCREPANCIES... 11 DSD Discrepancies... 11 Exercise... 11 ALLOWANCE/BILL BACKS... 12 Allowance form... 12 Bill Backs form... 13 Allowance/Bill Back Reports... 14 Exercise... 14 PRINT STOCK ON HAND REPORT... 15 Print Stock on Hand Report... 15 MISCELLANEOUS INVENTORY REPORTS... 16 Print Total Invoices by Department... 16 Print Allowances by Vendor... 16 Print PO's by Vendor... 17 Paid/Unpaid Invoices by Vendor... 17 HANDHELD OVERVIEW... 18 SETUP REASON CODES... 18 Setup Reason Codes... 18 Exercise... 18 WIRELESS SETTINGS... 19 Wireless Settings... 19 TEMPLATE MAINTENANCE... 20 Setup Templates... 20 Exercise... 21 RETAIL USER TRAINING - 11/01/10 Page 3

Introduction Entering inventory counts, ordering goods, receiving goods, and analyzing your inventory are all important functions of managing your inventory. RETAIL 7 provides you with the ability to perform all these functions in an automated fashion using the following: Inventory Count Open a Purchase Order Receive an Invoice Analyze Inventory DSD Discrepancies Allowances/Bill Backs Inventory Reports Inventory Count Enter Inventory Count Inventory Count Report Access the Inventory Count function under the Inventory menu. Enter Inventory Count In order to be able to analyze your inventory, the first step required is to establish the beginning inventory (physical inventory) for the products. This function should be performed when a store first opens to establish the beginning inventory count for the products as well as periodically when physical inventory counts are performed. The Inventory Count form is used to enter and review physical inventory count for a product or set of products. It can also be used to display or print an inventory report. Only one inventory count can exist per day. One advantage of RETAIL s Inventory Count application is that it allows you to take a physical count of your store s inventory over a period of several days. This is useful if the count needs to span several days. Note: When exiting the form a dialogue box appears with a question, Do you want to update inventory? When Yes is clicked every item listed in the inventory count form will have the quantity-on-hand updated. RETAIL USER TRAINING - 11/01/10 Page 1

Note: You should enter the product counts into the system the same day the count for the product is taken. The system stamps the date and time entered on the product count and uses this date to recalculate the net quantity-on-hand when you mark the ending inventory. To begin entering an inventory count, enter in the Category that you wish to assign to the count (this can be the date of the inventory count if you wish) and press. Answer Yes to the dialogue box: There is no inventory count for this category. Would you like to create one? Enter the UPC code of a product you ve counted and press. Enter the quantity for the product in the Quantity field and press. The product will now be displayed in the bottom portion of the form. Continue this process until you ve entered all of the counts. Once you are completely done entering your inventory count (this can span several days), you ll want to mark the ending inventory to establish a baseline to be used when analyzing inventory. Click on the Mark Ending Inventory button to complete this process. The system will confirm your request and ask you to enter an ending inventory date (this should be the ending date of the count). RETAIL will recalculate the quantity for each product in the count; taking into account all receipts and sales through the close of business on the ending date you entered. Note: RETAIL 7 requires that the ending date you enter be the same date as a successful store close. If this is not the case, an error message will appear. The inventory count and ending date you enter will be the basis for calculating inventory levels in the Inventory Analysis function. When using the Inventory Analysis function, the ending date can be used as a Start Date when calculating inventory or as a Start and End Date when calculating shrinkage. You can access previous counts that you ve entered by clicking on the down arrow next to the Category field. This will bring up a drop-down list of the inventory counts that currently exist in the system. Select the one you desire and the information related to the inventory count will be displayed. To delete an inventory count, click on the Delete button inventory count and all of the associated product entries. in the toolbar. RETAIL will delete the Note: When deleting an inventory count, an entry will be created in the user activity log in order to provide an audit trail of data deleted from the system. (Refer to the User Activity Tracking topic in the General Topics section) Inventory Count Report This function will produce an Inventory Count Report for the selected count date. This function is executed when the Print or Print Preview button is selected on the Inventory Count form. Exercise 1. Open the Inventory Count task and create a count named Pepsi Cola. 2. Enter in each Pepsi Cola item along with the physical count 3. Mark the count as of yesterday's date assuming that a store close has been run. RETAIL USER TRAINING - 11/01/10 Page 2

Open a New/Review a Purchase Order Order Goods P.O. Adjustments Purchase Order Documents Multiple Vendor Costs Find a P.O. Access the Open a New/Review a Purchase Order function under the Inventory section of the Inventory menu. Order Goods The New Purchase Order form is used to create new and review existing purchase orders by vendor. A P.O. is required prior to receiving goods in RETAIL. Select a vendor from the list and the next available PO # will be displayed (New Purchase Order) or a list of PO # s will be available for selection (Review a Purchase Order). Products can be entered on the PO either by UPC or by Item Code. Click on the UPC button to toggle to Item Code and once again to toggle back to UPC. Click on the Product Detail field to display order and movement data related to the UPC entered. Note: to delete an item from the PO, highlight the item in the list and press the delete key from the keyboard. Note: normally RETAIL 7 assumes the order is by the case (if the case cost has been set up via Product Maintenance). To order by units type 'u' before the quantity is entered. Three purchase types are supported in RETAIL 7 : Received which is the normal type; Free indicates goods are being received for free (no charge); Returned indicates goods are being returned to the vendor which will result in a negative entry on the P.O. Enter in the additional information pertaining to the product for this P.O. Allowances for a product(s) will automatically be applied as products are entered. To view the allowances, click on the Allowances button next to the Allowance total field. As you enter the products they will be listed on the bottom portion of the form. Click on the Save button in the toolbar to save the information and open a new PO form. Click on the Print Preview button P.O. or select the Print button to print the P.O. to preview a printout of the RETAIL USER TRAINING - 11/01/10 Page 3

P. O. Adjustments The P.O. Adjustment form is used to enter adjustments to a P.O. This form is displayed when the P.O. Adjustments button is clicked on the New Purchase Order form or on the Receive an Invoice form. Adjustments can either be made for the entire P.O. (select Purchase Order) or for a particular line item on the P.O. (select UPC). Type in a description for the adjustment, the amount and select an adjustment type. Adjustments listed as Reductions are treated as negative adjustments (i.e., reducing the amount of the PO or invoice). Adjustments listed as Added Charges are treated as positive adjustments (i.e., adding to the amount of the PO or invoice). Purchase Order Document This function will produce a Purchase Order document for the selected purchase order on the New Purchase Order form. This function is executed when the or is selected. Multiple Vendor Cost The Multiple Vendor Cost form is used to display the different vendors and costs that exist for the current product entered or selected on a PO. This form is displayed when the View Vendors Cost button is clicked from the Open a New/Review a Purchase Order form. Find a P.O. This form is used to display all the P.O.s currently in the system. This form is displayed when the find button is clicked in the Review a Purchase Order toolbar. Select the P.O. number desired from the list and click on the OK button. RETAIL USER TRAINING - 11/01/10 Page 4

Exercise 1. Open the Open a New Purchase Order form and select the Pepsi Vendor (or a similar vendor) 2. Key in UPCs belonging to the Pepsi vendor and order 5 cases. 3. Press the adjustments button in the toolbar and create an adjustment for Misc for the entire purchase order. 4. Print the Purchase Order from the toolbar. Extra: 1. Pull up one of the UPCs and select the View Vendor Cost button in the toolbar. 2. Pull up one of the UPCs and click the checkbox next to the Product Detail field to view detailed order information. 3. Pull up one of the UPCs and create a memo noting to inspect the product as it is received. Later pull up this PO in the Receive an Invoice task and view the message. RETAIL USER TRAINING - 11/01/10 Page 5

Receive an Invoice Receive Goods Cost Calculator Invoice Document Access the Receive an Invoice function under the Inventory menu. Receive Goods The Receive an Invoice form is used to receive merchandise ordered via a P.O. When products are received, inventory is automatically updated. Select a vendor from the drop-down list and a list of P.O.s not received will be available for selection in the P.O. No. field. If receiving goods without a P.O., simply input the first UPC in the UPC field and the system will prompt if a new P.O. should be created. RETAIL supports receiving the entire P.O. as ordered by clicking on the Receive as Ordered button or inputting individual received quantities for each line item. As a last step, to update the received goods into inventory, click on the Mark Invoice as Received button in the toolbar. Note: To order by pieces instead of cases (if a case cost has been set up for the UPC) enter a 'U' before the quantity. Note: Click on the UPC button to toggle to Item Code. RETAIL USER TRAINING - 11/01/10 Page 6

Cost Calculator The Cost Calculator form is used to update cost/pricing information on products directly from this form. This form is displayed when the Cost Calculator button is clicked from the toolbar of the Receive an Invoice form. Note: The current Invoice will reflect the cost/pricing changes made from the Cost Calculator. Changes are applied to the product file as soon as the 'Apply' button is pressed. Invoice Document This function will produce a Receiving Invoice document for the selected invoice. This function is executed when the Print or Print Preview button is selected on the Receive an Invoice form. Exercise 1. Open Receive an Invoice. 2. From the drop-down, select the Vendor from the previous exercise. Select the PO number. 3. Enter or double click on each UPC in the list on the bottom of the form and enter the amount received or click on the Received as Ordered button from the toolbar. 4. Key in an Invoice Number (this could be from actual invoice from vendor) and fill in the Shipped By field. 5. Key in the vendor total. (This could be the actual total from vendor's invoice. The difference can be viewed in the DSD Discrepancies task) 6. Press the Mark as Received button from the toolbar. 7. Answer 'Yes' to the prompt to print the invoice. Extra: 1. Create an Allowance using the Allowance and Bill Back form for a selected product and view the allowance when an invoice is created for the selected product. (make sure allowance is created for the vendor selected) 2. Set up a product with a secondary vendor, from within the Product Maintenance form, with a different case cost and create an invoice for the secondary vendor. 3. Use the Cost Calculator to change the Cost of one UPC in the invoice. Verify that the current invoice reflected this and that the cost was changed in the Product Maintenance file. 4. Order one of the UPCs as a free item and see how this is reflected on the screen. 5. Setup one of the products as a serial product and create an invoice. When prompted key in a serial for each item ordered. Note the product must be flagged as a serial product in Product Maintenance. 6. Key in the Date Paid (This will display in the Paid or Unpaid Invoices by Vendor Report) 7. Select a Vendor and press the Find an Invoice button to view invoices that have already been 'Marked as Received'. (For this to work select a vendor that previously has invoices Marked as Received) RETAIL USER TRAINING - 11/01/10 Page 7

Inventory Analysis Analyze Inventory Calculations Inventory Analysis Report Access the Inventory Analysis function under the Inventory menu. Analyze Inventory The Inventory Analysis form is used to perform an Inventory Analysis for a specific category including Department, Section, Vendor, Total Store, or for a specific UPC Code. Select a start date by clicking on the down arrow next to the Start Date field (these are the dates of inventory counts that currently exist in the system). Enter an ending date or select one from the list by clicking on the down arrow next to the End Date field. Select a particular product by entering in the UPC of the product in the UPC field and press {ENTER}. If you d like to select section, department), click on the down arrow next to one of the selection boxes (e.g., Department, Section, Vendor, Other) to select from a list of items. To calculate the inventory for the category you selected, click on the Calculate Inventory button in the toolbar. The system will now list all of the products matching the category you selected in the bottom portion of the screen. In the middle of the screen, you'll see three columns of information displayed by the system: Quantity, Profitability and Shrink. Under the Quantity column, you'll be able to see your initial inventory (based on the inventory count entered matching the start date you specified), the number of items received, the number of items sold, any adjustments that have been applied and your ending inventory. Under Profitability, you'll see your price, your cost, your profit and gross margin of your ending inventory. RETAIL calculates your ending inventory by taking the beginning inventory count plus the received invoices, minus the sold products and applies any adjustments to the inventory via the Product Maintenance/Inventory task. To calculate any inventory shrink, click on the Calculate Shrink button in the toolbar. The system will then search for an inventory count for the ending date you specified on this form. The inventory count will be displayed in the Ending inventory column on the form. This ending inventory count will be used to calculate the shrink. Under Shrink, you'll see your price, your cost, any loss of product and the actual margin of your ending inventory including your shrink. RETAIL USER TRAINING - 11/01/10 Page 8

Remember: You will not be able to use this function until an inventory count is entered in the system. The system will search for an inventory count matching the start date you entered and use the inventory count as the initial/beginning inventory. To calculate shrink, the system will search for an inventory count matching the end date you entered. Refer to the Enter Inventory Count topic covered earlier in this section. Note: Refer to the Back End How to section for more information on the inventory process supported within RETAIL 7. RETAIL USER TRAINING - 11/01/10 Page 9

Calculations The inventory analysis function reads and aggregates data from a number of areas. The process to calculate inventory includes the following steps: Get initial inventory count based on the Inventory Count entered for the start date selected Get the quantity sold based on Product movement during the time period specified Get the quantity received from invoices for the time period specified Take into account any adjustments created through the Inventory form in Product Maintenance. Calculate the ending inventory = ((Initial Inventory + Received) - Sold + adjustments) The process to calculate shrink uses the same process as calculating inventory with the following changes: Get ending inventory from inventory count for the ending date specified Calculate the shrink = (Initial Inventory + Received - Sold - Ending Inventory) Inventory Analysis Report This function will produce an Inventory Analysis report based on the data displayed on the form. This function is executed when the Print or the Print Preview is selected from the Inventory Analysis form. Exercise 1. Create an Inventory Count and date as of the store close from at least one day back. (use the count from the above exercise if one is created) 2. Create a PO and Receive a few of the products in the Receive an Invoice form.(make sure some of the product were part of the above count) 3. Ring up a few of the products on the Front End and run a store close (again make sure to use products from your count) 4. From the Inventory Analysis screen pull up the count date from step one. 5. Select the Total Store from ' Other' group. 6. Press the Calculate Inventory button from the toolbar. 7. View the beginning count, Items Received, Items Sold and Ending Inventory. Extra: 1. Create another Count for the same products and Mark as of the Last store close (this needs to be later than original count) 2. From the Inventory Analysis function pull up the first count from the Start Date and the Last count from the End Date. 3. Select the Total Store from the 'Other group. 4. Press the Calculate Inventory button from the toolbar and then press the Calculate Shrink button from the toolbar. 5. View the Shrink column. (If any products did not go through the register or were stolen from the store they would be reflected here). RETAIL USER TRAINING - 11/01/10 Page 10

DSD Discrepancies DSD Discrepancies Access the DSD Discrepancies function under the Inventory menu. DSD Discrepancies The DSD Discrepancies form is used to display discrepancies created when a DSD invoice is received via the RETAIL Wireless module or the Receive an Invoice form. A discrepancy is created for any invoice where the extended (calculated) total of the invoice varies from the vendor s total. This form contains two tabs: General Displays summary level data for each DSD Discrepancy. Details Displays details for a specific invoice selected from the General tab. Click on an entry listed on the General tab and then click on the Details tab. Exercise 1. Create an Invoice as you have done in the above exercises. 2. Key in a Vendor Total different than the Total calculated by Retail. 3. Mark the Invoice as Received. 4. Pull up the invoice in the DSD Discrepancies screen and verify the differences. RETAIL USER TRAINING - 11/01/10 Page 11

Allowance/Bill Backs Allowances form Bill Backs form Allowance/Bill Back Reports Access the Allowance/Bill Backs function under the Inventory menu. Allowance form The Allowances tab of the Allowances/ Bill Backs form supports the entry and maintenance of Allowances for a vendor and product. In add mode, enter in the UPC of the product or product group for which the allowance applies. A list of vendors (if multiple vendors exist for the product) will be displayed in the Vendor Name field for selection. To edit an allowance, enter in the UPC and the first allowance will be displayed. Sort the list below by UPC or any other field by double-clicking on the column heading desired. The information listed will re-sort based on the column selected. Note: Allowances will automatically be applied to any PO or Invoice entered via the Back End or via a hand-held device using the RETAIL 7 Wireless module. Note: If more than one allowance is in effect for a product RETAIL will apply all allowances in effect unless the flag "Apply Best Allowance Only" is flagged "ON" in the System Information/Defaults tab. under the Administration task. RETAIL USER TRAINING - 11/01/10 Page 12

Bill Backs form The Bill Backs tab of the Allowances/ Bill Backs form supports the entry and maintenance of bill backs for a vendor and product. In add mode, enter in the UPC of the product or Product group for which the bill back applies. A list of vendors (if multiple vendors exist for the product) will be displayed in the Vendor Name field for selection. To edit a bill back, enter in the UPC and the first bill back will be displayed. Sort the list below by UPC or any other field by double-clicking on the column heading desired. The information listed will re-sort based on the column selected. Use the calculate button to calculate the quantity sold and amount due for the bill back based on the latest product movement figures available. Note: Selecting a Product Group from the Product Group drop down, allows for Allowances and Bill backs to be created for an entire product group. Note: Use the Expired deals to delete deals according to expiration date. RETAIL USER TRAINING - 11/01/10 Page 13

Allowance/Bill Back Reports The Allowances and Bill Backs reports are produced when the Print or the Print Preview button is selected from the Allowance/Bill Backs form. Exercise Allowance: 1. Create Allowances for two UPCs from the Pepsi vendor by selecting the UPC, Pepsi vendor, keying in a Description of allowance, entering a Start and End date and the allowance amount. 2. Create a PO for the above products for the Pepsi Vendor. 3. View the above allowance is reflected in the PO. Bill Back: 1. Create a Bill Back for any of the Pepsi products. 2. Select the Pepsi Vendor, key in the Rebate ID (supplied by the vendor), Rebate Amount, and a description. 3. Key in the Start and End date (make the dates the past 10 days, so you can see some movement, normally this is setup before the bill back begins.) 4. Select the status as waiting. 5. Switch to Edit mode and pull up this UPC. 6. Press the Recalculate button from the toolbar to calculate the quantity sold and amount due. Extra: 1. Create two allowances for the same UPC and same vendor and see how this is reflected on the Purchase order. Note: there is a flag via the System Information form under the Administration menu as to whether all allowances are applied or just the best allowance. 2. From the Bill Backs task Use the Create Filter to change the display of bill backs to display only the bill backs for the Pepsi Vendor. RETAIL USER TRAINING - 11/01/10 Page 14

Print Stock on Hand Report Print Stock on Hand Report Access the Print Stock on Hand Report function under the Inventory menu. Print Stock on Hand Report The function will produce a Stock on Hand Report for products whose stock on hand is less than or equal to a specified threshold. Enter the threshold desired and click on the OK button. The system will compare the stock on hand for each product in the system and print out a list of products whose stock on hand is less than or equal to the threshold entered. RETAIL USER TRAINING - 11/01/10 Page 15

Miscellaneous Inventory Reports Print Total Invoices by Department Print Allowances by Vendor Print PO's by Vendor Paid/Unpaid Invoices by Vendor Print Total Invoices by Department This function will produce a list of all invoices by departments for all or specific vendors for a desired time period. The flag DSD only and Non DSD only is used to display either DSD Vendor or Non DSD Vendor or both on the report. The DSD flag is set for each Vendor via the Vendor Maintenance task. Print Allowances by Vendor The Print Allowances by Vendor function will produce a list of allowances by vendors or all vendors within a desired time frame. RETAIL USER TRAINING - 11/01/10 Page 16

Print PO's by Vendor This function will produce an Outstanding Purchase Orders Report by vendors within a desired time frame. Paid/Unpaid Invoices by Vendor This function will produce a list of paid and/or unpaid purchase invoices by vendors within a desired time frame. RETAIL USER TRAINING - 11/01/10 Page 17

Handheld Overview Handheld Overview Introduction Introduction Setup Reason codes Wireless Settings Template Maintenance Entering inventory counts, ordering goods, and receiving goods, are all important functions of managing your inventory. RETAIL 7 provides you with the ability to perform the each of the above examples using the wireless handheld unit. The following tasks: Setup Reason codes, Wireless settings and Template Maintenance are functions used along with the handheld unit. Setup Reason Codes Access the Setup Reason Codes function under the Inventory menu. Setup Reason Codes The Setup Reason Codes form is used to enter reason codes for functions supported by the Wireless module. Wireless functions that use reason codes include Purchase Order entry and DSD receiving. Reason Codes can be established for: Credits Debits Rebates Select the transaction key desired from the drop down list. Reason codes will be displayed in the bottom of the form. To edit a reason, click on a reason code from the list. To add additional reason codes click on the Add button. Exercise 1. Create at least two descriptions for each reason. 2. From the handheld create a PO or an Invoice 3. Before posting select the Adjustments function and create a credit adjustment 4. Verity that you are prompted to select one of the credit reasons you have created. RETAIL USER TRAINING - 11/01/10 Page 18

Wireless Settings Handheld Overview Wireless Settings Access the Wireless Settings function under the Inventory menu. Wireless Settings The Wireless Settings form is used to setup various functions supported by the Wireless modular. A flag will indicate the following: 'Update Stock on Hand': The count is updated to the current 'Inventory Count' task as the product is added. 'Play sound on Errors and Messages': a sound plays when errors or messages develop on the handheld unit. 'Use Cases as Default': Products are ordered or received by Cases as the default. 'Display Names': the Department and Vendor name will be displayed instead of the numbers. RETAIL USER TRAINING - 11/01/10 Page 19

Template Maintenance Handheld Overview Setup Templates Access the Template Maintenance function under the Maintenance section of the Administration menu. Setup Templates The Templates Maintenance form is used to set up templates used by the RETAIL 7 Wireless module and the Quick Add/Edit function in the Back End. Templates are used to define the fields that will be displayed on the form used in a specific function. This provides a very flexible way of defining the look and use of a screen. The following templates can be defined. Shelf Audit, DSD, Inventory Count and Order are functions supported by RETAIL 7 Wireless while Quick Add and Quick Edit are functions available in the Back End. To define a template click the Add a Template button from the toolbar. Select the Template type from the Template Type drop down. Input the template name and Template Description. Select fields that will be available on the template. Next, select the users that will be able to use this template from the list of Available Users. The assigned template will be used based on the user s password when signing-on to the Wireless or Back End modules. Click on Save to save the information. The Shelf Audit template allows for two template types: Shelf Audit Update will indicate that changes will be updated immediately to the system. Shelf Audit Batch will indicate that a product batch will be created with the changes that can then be applied at a later time using the Enter Prices for Ad/Batch function. The Display field is only accessible for those templates where data will be modified (i.e., Shelf Audit, Quick Add and Quick Edit). This field will indicate to the system, which fields should be available for modification and which fields will be display only (no modification) on the template. By default all fields are modifiable on a template. To set the Display field, highlight the template field and click Display Only field to Yes. RETAIL USER TRAINING - 11/01/10 Page 20

Exercise Handheld Overview 1. Create a template for Shelf Audit Update and name the template Price Update. 2. Select from the Available fields Descriptions, Normal Price Method and Label. 3. Highlight the Description field from the Current box and flag the Display. (The description field will be a display field only) 4. Select the Available user to be yourself (if you are not set up use the generic employee) 5. Press the Save button. 6. From the Handheld unit select the Shelf Audit function. 7. Key in your password (Back End only) 8. Key in one of the Pepsi UPCs and change the unit price to be $0.10 more. 9. Verify the price change in the Product Maintenance task. RETAIL USER TRAINING - 11/01/10 Page 21

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