Inventory Management
The Qvian Suite Inventory Management system helps you track stock levels, optimize ordering, and manage your product catalog with AI-powered insights.
Overview
The inventory system provides:
- Real-time stock tracking across all locations
- AI-powered demand forecasting and reorder suggestions
- Automated reorder management and supplier coordination
- Product catalog management with detailed specifications
- Multi-location inventory tracking and transfers
Product Catalog Management
Adding New Products
Basic Product Information
- Go to Inventory > Products
- Click "Add New Product"
- Enter product details:
- Product name and description
- SKU/Barcode and internal codes
- Category and subcategory
- Brand and manufacturer
- Unit of measure and packaging
Pricing and Cost Information
- Cost price from suppliers
- Selling price and markup calculations
- Discount pricing and promotional rates
- Tax settings and exemptions
- Margin analysis and profitability
Inventory Settings
- Stock levels and reorder points
- Maximum stock levels and storage limits
- Lead time for reorders
- Supplier information and contact details
- Storage location and bin assignments
Product Organization
Categories and Subcategories
- Create logical groupings for easy navigation
- Set up category-specific pricing rules
- Organize seasonal and promotional items
- Manage product hierarchies and relationships
Product Attributes
- Size, color, and style variations
- Weight and dimensions for shipping
- Material and composition details
- Care instructions and special handling
Stock Level Management
Real-Time Inventory Tracking
Stock Movement Monitoring
- Automatic updates from POS transactions
- Manual adjustments for discrepancies
- Transfer tracking between locations
- Receiving updates from purchase orders
- Return processing and inventory restoration
Location Management
- Multi-location tracking and visibility
- Bin and shelf assignments
- Stock transfers between locations
- Location-specific pricing and promotions
Inventory Adjustments
Physical Count Adjustments
- Initiate cycle count or full inventory
- Scan or enter actual quantities
- Compare with system quantities
- Review variances and investigate causes
- Approve adjustments and update records
Manual Adjustments
- Damaged goods removal and disposal
- Theft and shrinkage adjustments
- Seasonal markdowns and clearances
- Product recalls and safety issues
AI-Powered Demand Forecasting
Smart Reorder Suggestions
Demand Analysis
- Historical sales patterns and trends
- Seasonal variations and holiday impacts
- Customer behavior and preferences
- Market trends and external factors
- Promotional effects and campaigns
Reorder Recommendations
- Optimal order quantities based on demand
- Timing suggestions for best availability
- Supplier performance and reliability factors
- Cost optimization and bulk purchasing
- Storage capacity considerations
Predictive Analytics
Demand Forecasting
- Short-term predictions (weeks/months)
- Long-term trends (quarters/years)
- Scenario planning and what-if analysis
- Risk assessment and contingency planning
- Performance tracking and accuracy improvement
Inventory Optimization
- Stock level optimization for service levels
- Carrying cost minimization
- Stockout risk assessment and mitigation
- Excess inventory identification and liquidation
- Working capital optimization
Purchase Order Management
Automated Reordering
Reorder Point Management
- Set minimum stock levels for each product
- Configure lead times from suppliers
- Define reorder quantities and multiples
- Account for safety stock requirements
- Monitor supplier performance and reliability
Purchase Order Generation
- Review reorder suggestions from AI analysis
- Adjust quantities based on current needs
- Select suppliers and compare pricing
- Generate purchase orders automatically
- Send to suppliers and track status
Supplier Management
Supplier Database
- Contact information and communication preferences
- Pricing agreements and terms
- Performance metrics and ratings
- Delivery schedules and capabilities
- Quality standards and requirements
Vendor Performance
- On-time delivery tracking
- Quality ratings and defect rates
- Price competitiveness analysis
- Communication effectiveness scores
- Overall performance rankings
Receiving and Quality Control
Goods Receipt Process
Receiving Workflow
- Match received goods to purchase orders
- Verify quantities and product specifications
- Check quality and condition of items
- Record any discrepancies or issues
- Update inventory levels and locations
Quality Control
- Inspection procedures and checklists
- Defect tracking and reporting
- Supplier feedback and communication
- Return and rejection processes
- Quality improvement initiatives
Inventory Updates
Automatic Updates
- Real-time stock level adjustments
- Cost updates and price changes
- Location assignments and transfers
- Serial number and lot tracking
- Expiration date management
Reporting and Analytics
Inventory Reports
Stock Level Reports
- Current inventory by location and category
- Low stock alerts and reorder needs
- Excess inventory identification
- Stock movement history and trends
- Valuation reports and cost analysis
Performance Metrics
- Inventory turnover rates by product
- Carrying costs and investment analysis
- Stockout frequency and impact
- Supplier performance and reliability
- Forecast accuracy and improvement
Business Intelligence
Trend Analysis
- Sales velocity and demand patterns
- Seasonal variations and planning
- Market trends and competitive analysis
- Customer preferences and behavior
- Product lifecycle management
Optimization Opportunities
- Slow-moving inventory identification
- Fast-moving product expansion
- Cost reduction opportunities
- Supplier consolidation potential
- Process improvement areas
Multi-Location Management
Location Coordination
Centralized Visibility
- Cross-location inventory visibility
- Transfer management between locations
- Consolidated reporting and analysis
- Standardized processes and procedures
- Unified supplier relationships
Transfer Management
- Initiate transfers between locations
- Track movement and delivery status
- Update inventory levels automatically
- Manage transfer costs and logistics
- Optimize distribution networks
Location-Specific Features
Local Customization
- Location-specific pricing and promotions
- Local supplier relationships
- Regional compliance and regulations
- Cultural preferences and adaptations
- Local market conditions and trends
Best Practices
Daily Operations
- Review stock levels and reorder alerts
- Process receiving and update inventory
- Monitor movement and adjust levels
- Check quality and resolve issues
- Update forecasts and plans
Weekly Management
- Analyze performance and trends
- Review supplier performance
- Plan purchases and orders
- Optimize stock levels
- Update forecasts and models
Monthly Planning
- Comprehensive analysis of inventory performance
- Supplier review and negotiations
- Strategic planning and optimization
- Budget planning and allocation
- Process improvement initiatives
Troubleshooting
Common Issues
Stock Discrepancies
- Physical counts vs. system records
- Investigation procedures and root causes
- Adjustment processes and approvals
- Prevention measures and controls
Supplier Problems
- Delivery delays and communication
- Quality issues and resolution
- Price changes and negotiations
- Alternative suppliers and backup plans
System Issues
- Data synchronization problems
- Integration failures and fixes
- Performance optimization and tuning
- Backup and recovery procedures
Getting Help
Resources
- Inventory management training materials
- Best practices guides and procedures
- Video tutorials for complex processes
- Peer support and knowledge sharing
Support Contacts
- Technical issues: System support team
- Process questions: Operations specialists
- Training needs: Learning and development
- Strategic planning: Business consultants
Next Steps: Learn about Purchase Order Management for supplier coordination, or check out Accounting Integration for inventory cost tracking.