iVend Retail Benefits
Merchandise Hierarchy – A Merchandise Hierarchy is a reporting structure under which sales and inventories of products are tracked and managed. The function of the merchandise hierarchy is to categorize products into manageable levels for effective planning and reporting. Merchandise hierarchy has multiple levels with the highest level providing an overall enterprise view and then narrowing down to families or classes of products.
Merchandise Hierarchy in iVend Retail allows to:
- Define multiple Merchandise Hierarchies in the system
- Attach more than one Merchandise Hierarchy to individual products
- Top down reporting at all Merchandise Hierarchy levels
Replenishment Planning – Executing Replenishment Planning process generates stock movement recommendations to replenish warehouses or stores by purchase orders or stock transfers.
Replenishment Planning calculates gross requirements based on In-Stock Quantity, Open Sales Orders, Open Purchase Orders, Forecasts, Stock Transfer Shipments, Stock Transfer Requests, etc. The Replenishment Planning also takes into account predefined planning parameters such as Minimum Inventory, Minimum Order Quantity and the Lead Time.
Sales Forecasting – A central activity in any retail organization, sales forecast enables the retailer to take informed business decisions regarding inventory, cash flow or plan for growth. Forecasting in iVend Retail provides a wide range of forecasting models with an automatic “best pick” option. Forecasts can be generated based on product, product group, product categories and merchandise hierarchy. Furthermore the forecast can be consumed in Replenishment Planning calculations.
SMS Integration– SMS integration in iVend Retail has been incorporated with the aim of benefitting retailers and their customers. Retailers can now send SMS notifications to their registered customers. This is in addition to the email notifications that can be sent out from the application. Retailers can also SMS specific keywords to the application to receive configured reports via email.
iVend Dashboards – iVend Dashboard Designer allows creation of fully interactive business intelligence dashboards for iVend users. iVend Dashboards include a completely optimized drag and drop feature for faster creation of dashboards. These dashboards created can either be viewed from within iVend Management Console or viewed in any standard browser using the iVend web viewer. With iVend Dashboards, interactive drill down reports can also be created which can be viewed using a web browser.
Inventory Control to Avert Stock-Outs – iVend Retail delivers complete visibility across retail chain. POS operators can view entire stock across stores or at the main warehouse/distribution center at the POS. In the unlikely event of stock outs, POS operators can put items on order and fulfill them from other stores or at a later date by replenishing stock from the distribution center.
Transaction Server for On-Demand Transactional Data Access – iVend Transaction Server helps to optimize the retail environment by significantly reducing the load of data replication across the stores over the internet. With iVend Transaction Server it is not necessary to replicate the transaction data across retail stores. All transactions are stored centrally.
The POS at stores can lookup transactions locally from the store database and if transactions are not available locally then they can be retrieved from the Enterprise Server via the Transaction Server.
Stock Management with Handheld Devices – The Handheld module in iVend POS allows users to manage store inventory using a handheld device running Windows Mobile OS version 6.0 or 6.5. Transactions such as Good Receipt PO, Stock Transfer Shipment & Receipt, Goods Issue & Receipt, Goods Return to Vendor, Stock Take, item Lookup can be performed using the handheld device.
Inventory Costing – Allows retailers to provide monetary value for items that make up their inventory. Standard Costing feature in iVend POS enables to determine product profitability, helping retailers make necessary decisions for their business. Inventory Costing is available to retailers using iVend Retail as a standalone application (Unplugged) without integration to an ERP system
Visual Query Builder – A visual query builder helps in creation of Adhoc reports using SQL queries. The functionality helps user in writing queries by selecting data tables and then linking them by using drag and drop functionality.
Inventory Turns Report – Inventory Turns is a measure of the number of times an inventory items is sold or used in a time period such as a month, quarter or an year. Inventory turns reporting helps retailers identify slow moving and fast moving items in check averting overstock and stock-out situations. A higher inventory turn number is an indication of stock out situations and a lower inventory turn number indicates dead stock, which has moved very slowly in a specific time period.
Promotions that Maximize Profitability – iVend Retail comes with an extremely comprehensive promotions engine and allows retailers to define promotions in multiple formats such as period based discounts, quantitative discounts, mix and match and buy some get some, etc. iVend Retail allows to manage targeted promotions by easily analyzing detailed customer trends at individual stores and throughout the retail chain.
Retain Customers and Manage Customer Communication– iVend Loyalty application in iVend Retail Management Suite allows retailers to define flexible loyalty campaigns, which ensure customers keep coming back, thereby increasing retailer profitability by rewarding the right customer. It delivers a full range of analytics and service capabilities that help retailer better understand each customer’s value. iVend Loyalty helps retailers design plans that maximize the potential of all customer relationships. Customers can be informed of available points, their value and their validity via emails and iVend Passes.
User Interface Enhancements – iVend POS 6.2 includes several UI enhancements including a Collapsible Menu Bar that permits users to collapse the Menu bar in iVend Management console providing additional working space on the screens. In addition users can now change label and button captions by accessing the Change Caption option from the right click menu. Validation Rules can now be setup following validation rules on screens accessible from the iVend Management Console.
Reliable and Safe Credit Card Transactions – iVend Retail is a PCI – PADSS compliant application and offers fast, easy, safe, and cost-effective card management with integrated payment processing from industry-leading banks.
Stay Connected with your Business Operations – iVend Retail Management Suite is a comprehensive end to end retail management suite allowing complete visibility and control to the central head office operations. Seamless integration with standard ERP/Accounting applications through its APIs, allows retailers using iVend Retail have access to updated information of financial and operational data. This fail-safe integration keeps the central head office always connected with the store operations across the complete retail chain.
Smoothly Process Routine and Complex Transactions – iVend Retail enables the POS operator to combine multiple transaction types with in single POS transaction. For example – POS operators can process a sale refund and sale transaction in a single transaction rather than a two-step process, which involves a separate transaction for sales refund and sale.