3. The stock in the shop does not match easily, always something goes wrong! How to avoid this mess?

Gold, silver, platinum metal (raw material), small delicate ornaments, colour stones, loose diamonds (different types of variety and price), gift articles…, such stock means ‘Small in size but big in price!’ Hence, handling the stock in jewelelry business is a risky job! So, naturally precaution must be taken! And that’s the challenge!! To avoid the mess that happens while managing this challenge, you have to do the following four things.

  1. Treating every stock place as a separate department.
  • Give different name, allocate person and assign rights to each department.
  • Hire a responsible person at each of the stock place
  • As a result, the responsible person of that respective stock place has good control over the stock of that place.
  1.  Giving separate identity to every item of jewelry.
  • Do Barcoding or tagging to all items.
  • If the barcoding is not possible then keep stock of items as lot / batch / packet.
  • Because of this, the movement of every single item in the shop can be tracked easily.
  1.  Handling each stock or its type, stricktly through proper and accurate work-flow.
  • According to the different types of stocks, develop different and independent methods of handling them.
  • Get into the habit of handling the related stock with its predecided method.
  • As a result, which stock is at what place, can easily be found out. And it will remain with the responsible person only.
  1. Checking the jewellery stock daily, with specific intervals and different methods.
  • Instead of checking the stock only with a single method, Keep cross checking it number wise, weight wise, department wise and person wise too.
  • Reserve a specific time of day to check the stock.
  • Because of this, stock records are taken quickly and they also get matched fastly.

In order to execute the aforesaid four ways simply and easily, different features have been provided in Acme Infinity Software. Which work as follows.

  1. To treat every stock place as a separate department…
  • Every stock place (as independent department) can be created as independent location in the software.
  • The rights to authorize various transactions can be given to the location manager.
  • Infinity Software keeps showing stock reports location wise.
  • The SMSs of the location’s stock are sent to the responsible person.
  • With this, it establishes good control over every small storage of every small department.
  1. To give seperate identity to every item of jewelry…
  • Infinity Software gives a unique number (label number) to each item. Which is attached to the corresponding item by printing the barcode or through RFID.
  • If it is not possible to attach barcode to jewelry or item, then for its independent identification, packets, lots or batches can be prepared. Packets are prepared according to the attribute or price of the item.
  • If it is not possible to attach barcode to jewelry or item, then for its independent identification, packets, lots or batches can be prepared. Packets are prepared according to the attribute or price of the item.
  • For each new entry, new packet can be prepared.
  1. To handle each stock or its type, stricktly through proper and accurate work-flow…
  • Inward module is available in Infinity software for goods that come in through procurement. Firstly, you can do buying in bulk. The procured goods remain in loose form until they are barcoded; which are handled by lot management. The same goods are sent to quality checks for testing. After quality check, the appropriate goods are labeled. The Labeled items are then sent for Hall Marking. Thus, the complete movement of the related lot can be seen at any time, such as the rejected items, quality check OK items, the labeled items etc. Thus, there is good control over the stock of every department. That means Infinity Software not only provides item wise reporting, but also avails lot wise reports.
  • As bracoding happens in procurement lot itself, the purchase price, supplier information are available automatically. Thus it has many benefits.
  • For old gold, Refining module has been given in Infinity Software. In which the purchased old gold is classified in three types; Which is further sent to the respective locations. And from there the material is forwarded for melting, refining and lab sample testing.
  • If any ornament is disassembled on counter, then the disassembled ornament and its separated parts are sent automatically to the specific fixed location. Which is then authorized there by the concerned person.
  • Order items also selected are transferred to the order counter (in Order Box); which also get authorized by the respective person.
  1. To check the jewellery stock daily, with specific intervals and different methods.
  • At the end of the day, item wise stock reports prepared by barcode scanning or with the help of RFID, are tallyed accurately. This stock is entered to the computer; and the software checks whether it is correct or not. So instead of just relying on printed reports, in this way, the physical stock at every counter is reconciled very easily.
  • In Infinity Software, there is a facility of doing the physical stock taking in two ways. In first method, the ornament or item is scanned according to barcode; for which the label is taken by direct scanning with the portable device. Or in another, physical stock taking is also done using the weighting scale. Because of this, even if a single barcode means an ornament is missing, then it is immediately brought in forth.
  • Schedule for Physical Stock taking can be prepared and maintained. So that physical stock taking is being done at right time with right schedule and this keeps the stock checked in a timely manner (scheduled form), due to which there is no need to worry about stock checking.

In this way, with the help of various tools available in Acme Infinity’s ERP software; the precious stock of jewellery business is always kept tallied without any disturbances. And for that, there is no need to take out special time separately.