Purchasing and Replenishment System
Why is a Purchase Order System Important?
Sales are a measure of your ongoing success — they shouldn't be something that affects your productivity or produces unnecessary paperwork. Fortunately, Finale Inventory contains a wide range of purchasing and stock-replenishing features.
As a business that relies on sales, your ability to maintain enough stock on hand and manage purchase orders is critical. There are many types of purchase order systems — from old school, pen-and-paper record-keeping to sophisticated cloud-based software platforms. Online purchase order systems come with several benefits, including that they can:
- Save you time and effort: Purchase order systems should be easy to use — software that fits seamlessly into your workflow will help your team stay productive even when you're dealing with a high volume of sales.
- Improve accuracy: A purchase order system can and should be part of overall quality management. Rather than being thought of as additional paperwork, it should strive to ensure that every order is processed and reported accurately, ultimately improving customer satisfaction.
- Reorder automation: With advanced order management capabilities, quickly create purchase orders in minutes. Prevent costly stock-outs by setting reordering thresholds. Or, save time with Finale's dynamic reordering features to handle the numbers for you. Finale can calculate reordering points based on the product's sales velocity to make smarter purchasing decisions for restock forecasting.
Why Work in the Cloud?
Cloud-based infrastructure has several advantages over on-site or server-based systems. Online purchase order systems are accessible from any computer and updated in real time, giving you access to accurate sales data whenever and wherever you need it. Cloud-based software is also easier to maintain, with more predictable costs — instead of investing in expensive hardware, you'll enjoy a fixed monthly fee along with the ability to change your plan or scale upward without buying new equipment.
Always Have a Handle on Your Landed Costs
Even with cost fluctuations, with Finale's sophisticated landed cost algorithm, you'll always know how much you're spending on each product. Understanding the landed cost of each product will allow you to gain insight into the gross margin of your sales. Finale will calculate the landed cost based on the cost of the products themselves, plus any other costs you directly incur to obtain the products. These costs can include everything from shipping to freight costs. Understanding your costs and how your suppliers are performing will give you the leverage you need to drive down spend as you grow.
How Can Finale Inventory Help?
Finale Inventory is a cloud-based inventory purchase order software platform designed for today's businesses. Our product can help you do several things. It can:
- Centralize purchasing and replenishment in a single database: Our product collects and consolidates sales data from multiple sources — including e-commerce and POS platforms — and will give you access to dynamic forecasting tools that help you make restock purchasing decisions.
- Receive partial shipments: Partial shipments are common in many warehouses, but few cloud-based inventory purchase order systems contain tools for handling them effectively. Finale Inventory makes it easy to receive partial shipments and create backorders for reconciliation at a later date.
- Manage multiple suppliers: Working with multiple suppliers is a smart way to make your business more flexible and resilient — but it does create additional paperwork. Our cloud-based purchase order system stores separate price and part number information for each vendor, reducing the risk of delays and billing inconsistencies.
- Understand product costs: Finale Inventory's sophisticated average unit cost calculations provide valuable information to give you a precise understanding of how much you're spending on each product. Understanding the cost of each product will allow you to gain insight into the gross margin of your sales.
- Assign products to multiple location and sub-locations: If you have multiple locations, easily allocate your incoming inventory to a specific warehouse or sub-location within a warehouse.
These advanced features are just a few of the many available with Finale Inventory. See the benefits for yourself by signing up for a free trial version of our inventory purchase order software today.
Practicality and ease of use, access, and usefulness of all features
”Finale Inventory Software is so accurate that we no longer have the overstock of unused products or dead skus. Purchasing accuracy is 100% and if there is an error we no longer have to question if it is user error or software.”
December 6, 2017
The customer service is excellent! You can easily reach and get a response from a real person.
”It really helps create more organization, structure, & efficiency to our inventory supply chain. The company has been great working with another vendor or ours to seamlessly integrate our CRM system.”
The Rag Company
Dec 11, 2017
Very easy to use. Great for tracking sales and the movement of merchandise between warehouses.
”Finale can generate custom reports that can be very helpful for audits. Keeps the record of every movement, including canceled transactions.
Easy to make changes to the stock.”
Z Natural Foods
Dec 14, 2017