Posts Tagged ‘Inventory’

P1Wired Photography Studio Management provides you a feature to manage your studio’s inventory. This feature becomes more important as your business grows and your customer offerings and photography gear becomes too large to manage in your head. If you manage your inventory you will be able to respond to customer requests quickly and profitably.

The inventory feature gives you the ability to track inventory On Hand, On Order and Balance. You can also track the vendors and corresponding products, including vendor product number, minimum order, lead time, unit cost and the last time you purchased the product. The inventory feature will also track all purchase history including when the product was ordered, which vendor, quantity ordered and unit cost.

You will also have the flexibility in the inventory feature to setup up a product as an inventory item (ie, frames, albums, etc) or non-inventory items (ie, 8×10 print or session fee). All inventory items are tied to the dates on the order so when you place an order, P1Wired will designate the product to the order. When you mark the order as ready, it will automatically adjust the On Hand quantity of that item. The best aspect of inventory is that you can set the Reorder Point and Reorder Quantity for each product. A report is available to let you know what needs to be reordered.

The benefits of improved inventory management include: reduced inventory, lower carrying costs and improvement in inventory turnover.

The inventory feature will also allow you to better manage your business when tax time rolls around and your accountant is looking for inventory levels. Whether on a quarterly or yearly basis, you can quickly and easily provide the information for tax purposes. The inventory feature combined with a little business discipline will make the accounting experience a snap.