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General Understanding
Contact Point Explained
Understand how the main information page is constructed to help you get more done.
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Inventory and Procurement
It is simple to build the average inventory system that just gives you part numbers, description, and prices. OmniAdministrator however, has gone the extra mile with a procurement database, profit calculations/warnings, instant order profitability calculations, and much more. In many cases the increase in your procurement and labor costs slowly eats away at your profit, so instead of going back and recalculating all your profit margins most companies simply increase prices the same across the board. Naturally, this is not perfect and in the end you may still have "under priced" products with low profits that eventually sell more for that specific reason. OmniAdministrator's Inventory Management System is different in that way. Our system encourages your procurement department to contiueously update your purchase prices which are linked directly to the sales inventory with exact and up-to-date profit margins. Furthermore, the inventory manager can choose to have a Dashboard displaying critical inventory items where the profit margin has slid below the desired level. OmniAdministrator goes even further by preparing your company inventory for public access and ecommerce. As the system is waeb-based it is easyly accessable from different mobile devices allowing you and your personel to stay on the go and have relyable data.Inventory Management and E-comerce.
The sales inventory is similar to most inventory databases which include: Type, Model, Price, Detailed description, etc. In addition to this, we have added pictures and the option to link your web-site into your database with links for e-commerce.
Procurement database and Purchase Orders.
As our goal is to understand the profit on each item and then each order by extension, we must first and foremost have an up-to-date inventory price list from our vendors. This naturally led us to develop a Purchase Order section, which does more than just create POs. First, it will suggest the price which is currently in your database. This means your company is always suggesting "no changes" on regular orders. If price increases occur you will be notified by your vendor. When this happens the purchaser can easily correct pricing and reissue the PO. As soon as the purchaser corrects the prices, he or she will probably choose to change the procurement pricing database. The continued updating of prices is the key to having up-to-date profit estimates for your inventory and orders.
Cross-linking procurement and inventory for profit calculations.
The system knows the latest prices from your vendors and now these are cross-linked to the inventory. For example, you may have a machine you are selling. This machine may have 30 different parts and some labor. Each part and the estimated labor in hours/minutes is entered. Then we ask you to enter the estimated administrative, insurance, future service, and advertising costs in percent (of sales price) format. This gives you the following formula: Inventory Item Price - Parts/Labor - Overhead = Profit, in value and percent.
Interaction with order handling.
The inventory items are used to make orders, similar to shopping at a store and taking parts off the shelves. Since we know the price, costs, and profit per item on the order, you can easily generate a total profit estimate. Now you may have a few extra expenses on the order, such as shipping, installation, or something else. These extra expenses can be registered on the order and then provide you with an even better profit calculation, which could be used to pay commissions.
There is no doubt that real-time profit estimates and calculations on inventory items and orders can be very beneficial. But the key component to successfully implementing this kind of system is disciplined users. This is the job of the managers to insure the pricing from vendors are updated so that these same managers can make better decisions for the company.
It is really difficult to describe how OmniAdministrator links the aspect of procurement costs with the sales inventory except to say that we have gone to great lengths to tie the two sides together with a lot of flexibility. As always, it is easy to claim integration, but often difficult to make a comprehensive integration that can be useful to more complicated businesses, such as equipment manufacturers.