Tilgo provides Inventory management, allowing you to :
- Create Suppliers
- Create an order that can be emailed to Suppliers. This can be auto-calculated from current estimated stock levels.
- Enter Deliveries from Suppliers.
- Retrieve a previous order, and record it as delivered.
- Enter a Stock Take.
- Calculate shrinkage based off the stock take compared to the estimated stock levels, and set opening stock levels based on the stock take.
Current Estimated Stock Levels = Opening Stock Levels + Deliveries – Sales
Opening Stock Levels = Estimated Stock Levels at time of Last Stock Take – Shrinkage
Shrinkage = Last Stock Take – Estimated Stock Levels at time of Stock Take
Hence Opening Stock Levels = Last Stock Take
As part of the inventory management in tracking stock levels, Tilgo also keeps track of the value of the Stock. This is based on cost of the purchased Stock Items when entering a Delivery. We use a First In First Out (FIFO) approach, and match the first deliveries in, to the first items as they are sold. Similarly when Shrinkage is calculated the value of the first shrinkage is based on the first deliveries in. We match Sales to Deliveries in before matching Shrinkage to deliveries in.
Stock Take Locations
Tilgo allows you to record ‘Stock Takes’ in various locations. This could be ‘Main Bar’ or ‘Cellar’ or ‘Store Room’. Therefore it is necessary to setup these different locations under the section <Back Office><Stock Take Locations>. This will be then be used in <Back Office><Stock Take>.