Inventory Retail Statistics Tab

Action: RETLINV

The Statistics tab of the Retail Inventory form shows you how this style code is performing across ALL sizes. Colors and widths entered for the style. These numbers are style totals.

Net Inventory Cost...This is a auto calculated field for display. The formula is

Average Unit Cost - the vendor discount percentage (contained on the Inventory - Details tab..

Inventory Value...This is a auto calculated field for display or inventory report printing and it is the total value of this inventory item. The formula for computing the value for the style is:

Avg. unit cost...The average cost for a quantity one of these items. This is computed automatically, by taking Quantity on Hand * Unit Cost for each receive history record in the Receive History form then totalling the product for ALL receiving records, then dividing the total by the total quantity on hand for the style.

QOH * Unit Cost added together for each receive record for the style / QOH for the style

(Quantity on Hand x Unit Cost) x Cost Factor - Vendor Discount for each Receive History entry, then totaled for all.

Average Unit Value.. This number is computed automatically and uses the formula:

Inventory Value / Total Quantity on Hand for the style

Many of the inventory reports utilizes this number in computing the inventory value.

Activity...The number in the activity field indicates the number of times the item has been placed in the prospect’s favorites file as an item a liked.

Sold 1 & Sold 2 totals for MTD, YTD and Life are the total times sold for Price 1 & Price 2 respectively. The cost of sales is computed differently depending on whether this item is sold from STOCK or SPECIAL ORDERED on a Sales Ticket. STOCK sales cost is computed with this formula:

Quantity Sold x ( Receive History Cost - Vendor Discount % -Cost Factor %).

SPECIAL ORDERED sales cost is computed with this formula:

Quantity Sold x Reorder Cost

Pricing 1 & 2 MTD Sold...Every time the ProfitSystem® program is started, it checks the current date. If ProfitSystem® sees that a new month has started, it will ask the user to reset the MTD totals. If you choose to reset them, ProfitSystem® will reset the following MTD (Month to Date) figures to zero, like a trip odometer on your car. In order for ProfitSystem® to track these figures accurately, the MTD totals must be reset to zero at the beginning of each month.

MTD Sold is the total number of times the item has been sold since the last time the MTD counter had been reset to zero. ProfitSystem® records this information automatically.

MTD revenue...This is the amount of total revenue this inventory item has generated since that last time the MTD counter had been reset to zero.

MTD cost of sales...This is the total cost of sales for this item since that last time the MTD counter had been reset to zero. ProfitSystem® records this information automatically.

MTD gross margin...MTD Gross Margin % is similar to the gross margin percentage shown on page 1 of the inventory, except that the number shown here is a month to date total. Again, it shows the total since last time the MTD counter had been reset to zero. ProfitSystem® records this information automatically.

Pricing 1 & 2 YTD Sold...These figures are identical to the month to date fields, except these figures are accumulated on a year to date basis. When the program is first started on January 1st, the system will prompt the user if she/he wishes to reset the YTD numbers in addition to the MTD numbers.

YTD revenue, sales, gross margin...These figures are identical to the month to date fields, except these figures are accumulated on a year to date basis.

Pricing 1 & 2 Total Sold...These figures are identical to the month to date fields and year to date fields, except these figures are accumulated on a lifetime basis, i.e. since the day they were entered into ProfitSystem®. These figures cannot be reset to zero. ProfitSystem® records this information automatically.

Life revenue, cost of sales, gross margin...These figures are identical to the month to date fields, except these figures are accumulated for the lifetime the item has existed in the system. These figures never get reset.

Date last sold... Each time the item is sold ProfitSystem® will automatically insert the date into the inventory file. This date is important in quickly determining the item's recent sales activity.

Date last received...Shows the last date an item of this style was added to Inventory, either through receiving a Stock Purchase Order, or by manual entry.

Manufacturing cost...The cost for manufacturing one of these items. This field is for reference only and is used by large stores that manufacture their own inventory.

Vendor discount (%)...The discount percentage that the manufacturer allows on this item for prompt payment. If you plan to take this discount percentage, enter it in here. If not, enter a zero. This number helps you to more accurately track your inventory value & is used in ProfitSystem© to calculate the inventory Net Inventory Cost mentioned above.

Reorder quantity...The Reorder quantity is an amount that can enter for some items (it may not be necessary for all).

The Inventory Reorder report will list styles items that the Quantity on Hand has fallen below the Reorder quantity. This provides a handy guide for reordering merchandise that may turn over quickly, such as certain accessories. The Reorder quantity, if entered, on the SCW form supersedes the Reorder Quantity on the Style level.

Spiff amount, type...This is a sales person dollar bonus incentive for selling an item. If there is a dollar amount in this field when the item is sold, it is registered to the consultant who sold the item. If commission splits are activated, the Spiff will split equally among the consultants entered when the item is sold. The type field lets you select Order/Stock/Either, which determine whether the spiff will be given when the item is sold from a special order only, sold from stock only, or both. Spiff amounts are printed on the Sales Analysis Reports, such as the Sales by Sales Associate report (located in the Reports menu). An individual Spiff audit report is printed by consultant when the commission report is printed.

Internet Style Code...Many manufacturers provide an online/internet catalog of their styles. Often they include an internet style code to identify the images. This internet code may be associated to the real inventory style. ProfitSystem© allows for inventory lookup by this internet style code. This field is optional and may be left empty.

All sales...Displays the Customers, Ticket Numbers, Sizes, Color, Net Price Stock Sale/Special Ordered Sale and Date the Inventory item was sold. Double-clicking on the Customer's Name will take you to the Customer Card that item was sold to. Double-clicking on the Ticket Number will take you to the Sales Ticket the item was sold on.