Managing inventory accurately is crucial for any business to prevent overselling and ensure customer satisfaction. SalesVu offers a feature that allows you to deduct inventory quantities as soon as items are added to an order, rather than waiting until the order is closed or completed. This real-time inventory deduction helps maintain accurate stock levels and prevents selling items that are no longer available.
Enabling Automatic Inventory Deduction
To activate this feature, you need to adjust a setting in your SalesVu account. Follow the steps below to enable automatic inventory deduction when items are added to orders:
Step 1: Log in to SalesVu.com
- Open your web browser and navigate to SalesVu.com.
- Enter your credentials and click "Login" to access your account.
Step 2: Access Location Settings
- Once logged in, click on the "V" drop-down menu next to your owner name at the top left corner of the page.
- Select "Location Settings" from the drop-down menu.
Step 3: Navigate to General Settings
- In the Location Settings page, click on the drop-down arrow at the top right corner to access additional settings.
- Select "General Settings" from the list.
Step 4: Enable Inventory Deduction for Open Orders
- Scroll down to the "Inventory" section within the General Settings.
- Locate the option labeled "Allow to deduct inventory for open orders".
- Click on the toggle switch to enable this option. It should change from "Off" to "On".
- Click "Save" at the bottom or top of the page to apply the changes.
Important Note:
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Sync Your POS App: After making changes in the SalesVu portal, ensure that you sync your POS devices to update the settings.
- Open the SalesVu POS app on your device.
- Tap the gear icon to access settings.
- Select "Sync with SalesVu.com" to apply the new settings to your POS system.
How the Feature Works on the POS
Once the "Allow to deduct inventory for open orders" setting is enabled:
- Immediate Inventory Deduction: When staff members add a product to an order on the POS, the inventory quantity for that product is immediately reduced by the quantity added.
- Prevent Overselling: If a product's inventory reaches zero, the system will prevent additional quantities of that product from being added to orders, thus avoiding overselling.
- Real-Time Stock Levels: Inventory reports and stock levels reflect the deductions in real-time, providing accurate data for inventory management.
Benefits of Using Automatic Inventory Deduction
- Improved Inventory Accuracy: By deducting inventory as items are added to orders, stock levels remain accurate throughout the day.
- Enhanced Customer Experience: Prevents situations where customers order items that are actually out of stock, thus improving satisfaction.
- Efficient Stock Management: Real-time inventory data helps in making informed decisions about reordering and stock replenishment.
- Reduced Staff Errors: Automating the inventory deduction process minimizes the risk of manual errors in stock management.
Considerations
- Open Orders Impact: Since inventory is deducted when items are added to orders (even before payment), be mindful of open orders that may be canceled or not completed, as this could temporarily tie up inventory quantities.
- Order Management Practices: Ensure that staff are trained to close or void orders appropriately to keep inventory levels accurate.
- Reporting: Inventory reports will reflect deductions based on items added to orders, so monitoring open orders is important for accurate reporting.
Best Practices
- Regularly Review Open Orders: Monitor open orders to identify any that need to be closed or canceled, freeing up inventory if necessary.
- Staff Training: Educate your team about the importance of closing orders and how the new inventory deduction process works.
- Inventory Reconciliation: Periodically perform inventory counts to reconcile physical stock with system records, ensuring continued accuracy.