2. Agenda
Introduction
Part I: New Features and Advanced Tools
Part II: Three-Step Automated Ordering Process:
Part III: Inventory Reports You Need to Know
7. Inventory Turns
• Important Metric is: Inventory Turns
• Definition: Number of Times the Average Inventory
Investment is sold per year.
• Average Inventory Turns Should be between 6 and
12 times per year.
• Average Turns for our Clients is 5.24 turns.
9. 6 Inventory Management Best
Practices
" Craig Harding, President of Direct Tech, Inc.,
provider of demand planning, inventory
optimization, merchandise planning and analysis
software.
1. Manage simple, consistent success metrics,
such as fulfillment, turnover and gross margin
return on investment.
10. 6 Inventory Management Best
Practices: Craig Harding
2. Dedicate your business to accurate data.
Garbage in still results in garbage out.
11. 6 Inventory Management Best
Practices
3. Maintain the quality of communications
between marketing, merchandising and
buyers.
12. 6 Inventory Management Best
Practices: Craig Harding
4. Apply top-down controls to align bottom-
up item plans with budgets.
13. 6 Inventory Management Best
Practices: Craig Harding
5. Reduce time from processes wherever
possible.
14. 6 Inventory Management Best
Practices: Craig Harding
6. Apply time against the 20 percent of your
inventory problems that will deliver 80 percent
of the benefit.
16. …the RQ4 Tool Belt
MIN/MAX Calculator
END OF LIFE
WRITE-OFF
DO NOT ORDER
LOCK MIN/MAX
MASS INVENTORY EDITING
MASS INVENTORY
ADJUSTMENT TOOLS
IMPORT/EXPORT MIN/MAX
AGED SERIAL NUMBER
WIDGET
MANY OTHERS…
47. Min/Max Calculator
" Period is critical: Best Practice
" Accessories: 21 days
" Phones: 14 days
" Set Min Qty:
" How many days from order to receipt of product
" Set Max Qty:
" How often do you wish to order product
49. Min/Max: Adjusting Values
" Adjust Min or Max to a fixed value
" Adjust Min and Max by % for Seasonality or
Promotions (can be positive or negative %)
" Can set the Order column to a fixed number
50. Product with No History
(New Product)
" Create the product in inventory
" Set Min/Max for first orders
" Lock Min/Max
51. Create New Product: Blackberry
• Right Click on Existing Blackberry Torch and
Create Similar
53. Min/Max Location Type
" Can narrow down search by store volume or
size
" Select A Stock Location to set min max for
new products
" This will pull up only those stores that are part
of that location type
54. Min/Max Location Type
" This will pull up only those stores that are part of
that location type
97. Summary
" RQ4 has introduced The Tool Belt to shave time
from every work flow.
" The Automated Ordering Process ensures you have
the Ripe Apples at the right place at the right time.
" The reporting enhancements allow for detailed
analysis:
" new reports
" new features within reports.
