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					PHOREST MEMENTO 6
INVENTORY & STOCK CONTROL GUIDE
Phorest Memento 6 Inventory & Control Guide            2 | P a g e  
TABLE OF CONTENTS

INVENTORY TABLE (STEP-BY-STEP)                          PAGE 4

INTRODUCTION                                            PAGE 4

PRE-INVENTORY PREPERATION                               PAGE 4

STOCK INFORMATION                                       PAGE 5

SECTION TAB DETAILS                                     PAGE 5

INPUTTING DETAILS                                       PAGE 5

CALCULATING STOCK MINIMUM, MINIMUM AND REORDER AMOUNT   PAGES 6 – 7

STOCK TAKE                                              PAGES 7 -8

INPUTTING STOCK ITEMS FROM STOCK TAKE                   PAGE 9

SAVING STOCK TAKE                                       PAGE 10

RETURNING TO OR EDITING STOCK TAKE                      PAGE 11

COMPLETING STOCK TAKE (RECONCILITATION REPORT)          PAGES 11 – 12

COMPLETING STOCK TAKE (UPDATE STOCK)                    PAGES 13 – 14

DAILY INVENTORY OPERATIONS                              PAGE 14

SUBTRACTING RETAIL \ PROFESSIONAL STOCK                 PAGES 14 – 15

STOCK NEEDS AT A GLANCE                                 PAGE 16

ORDERING                                                PAGES 16 – 17

ENTERING ORDER AMOUNTS                                  PAGES 18 – 19

MODIFYING ORDER AMOUNT                                  PAGE 19

RECEIVING & DOCUMENTING ORDERS                          PAGE 20




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INVENTORY TABLE (Step-by-Step)

                                STOCK TAKE                           PLACE \ RECIEVE ORDER
       Step 1        Print Stock List Report                       Print Low Stock Report

                     Count Inventory                               Create Order, enter needed stock items
       Step 2
                                                                   found on the Low Stock Report.

                     Enter Inventory Totals                        Place order and modify amount if
       Step 3
                                                                   necessary.

                     Complete Stock Reconciliation Report          When order arrives from supplier, enter the
       Step 4
                                                                   new inventory into Memento 6

                     Review discrepancies and correct or
       Step 5
                     modify if necessary.

       Step 6        Modify or re-enter stock totals.

       Step 7        Update Stock



INTRODUCTION

Stock control, otherwise known as inventory control is used to show how much stock you have at any one
time, and how to keep track of it.

It applies to every item you use to complete treatments and what you sale as retail. This would also apply
from purchase to delivery, ordering stock and recording that that the stock has been delivered.

Efficient stock control allows you to have the right amount of stock in the right place at the right time. It
ensures that capital is not tied up unnecessarily, and protects production if problems arise with your
supplier.

This guide explains the best practices for keeping track of your stock.


PRE-INVENTORY PREPERATION
Before an accurate stock process can be completed the foundational work must be completed. Please
ensure that the following tasks have been completed and are up-to-date.

   •    Products, brands and measurements have been entered, deleted or corrected.
   •    Supplier information has been entered, updated or corrected.
   •    Stock information is entered, updated or corrected.


NOTE: When describing which section to go to next… We will first lead with the button required to push,
then section, then button and then again section if necessary…. The “less than sign” ( > ) means “go to” or
“and then”. For example, if you need to add a new stock item it should look like this: Manager > Products
> Stock > Add > Stock Information. By following the mapping step-by-step… You should easily
manoeuvre through the system.




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STOCK INFORMATION
MANGER> PRODUCTS> STOCKS > ADD or EDIT > STOCK INFORMATION

    The Stock Information
    screen has two tabs at
    the top left:

    Details Tab\Screen =
    is where all stock
    information is inputted.


    Stock Record = List
    all transactions of this
    stock item. If all the
    numbers in this section
    is added, the sum
    should equal the
    amount of stock on
    hand.
     




DETAILS
In the Details section you can add, delete and modify the following:

•     Stock Type = Retail, Professional or Colour        •   Min Quantity = Minimum amount of stock
•     Category = What the stock item is.                     wanted on-hand.
•     Brand = Maker of the stock item.                   •   Max Quantity = Maximum amount of stock
•     Description = Name of the stock item.                  wanted on-hand
•     Unit Vol = Stock item measurement                  •   Reorder = order amount
•     Code = Stock code given by supplier (found on      •   Reorder Cost = Cost of reorder
      invoices)                                          •   VAT = Checking adds VAT\Tax to item
•     Bar Code = Where the barcode is scanned            •   Hotkey = Checking places item in the Hot Key
•     Sales = Price of the item without VAT\Tax              section of the Purchase Screen
•     Cost = Supplier price to you Incl. VAT\Tax         •   Commission = Checking permits staff to
•     Supplier 1 = Main supplier of stock item               collect mission from selling stock item
•     Supplier 2 = Alternative supplier of item          •   Loyalty Points = Input bonus points
•     Supplier 3 = Alternative supplier of item




INPUTTING DETAILS
It is recommended that at the very least… The items emboldened in red are the minimum information
required to complete basic daily business. However, for best business practices it is recommended that all
sections have inputted information.

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CALCULATING STOCK MINIMUM, MAXIMUM and REORDER AMOUNT
Please note… That the calculation of Min\Max is time consuming. However, the invested time placed in
completing your Min\Max, pays off when completing orders and completing full store stock takes.


Divide Months into Quarters
            •   Take 12 months of invoices.               Jan         April            July       Oct
            •   Divide the months by four: This will      Feb         May              Aug        Nov
Step 1                                                    March       June             Sept       Dec
                give you four separate months of
                three.

Sum Stock Items
            •   Find and add (combine) similar stock    Jan: hand lotion = 20
                items.                                  Feb: hand lotion = 25
Step 2
            •   This should be done for all stock items March: hand lotion = 20
                for each quarter

Add the Three Months to Determine Average of Stock Item
            •   Total months: 20+25+20= 65                   Jan: hand lotion = 20
            •   Remember: This must be done for              Feb: hand lotion = 25
Step 3          each stock item.                           + March: hand lotion = 20
                                                          ____________________
                                                                 65


Dividing the Sum
            •   Divide the sum by 3                       •   65/3 = 21.66
            •   Please round up
                     o 21.66 becomes 22                   •   22 quantity is our
            •   22 is on average what the salon used          working stock number.
Step 4
                for the months of Jan, Feb and March.
            •   Remember: This must be done for
                each stock item.




How Often Would I like to Order per Month?
            •   Now that you have your working stock      •   22 = Quantity
                item number: 22 quantity
            •   You must decide if you would like to      •   Weekly Max = 5.5
                order:
                     o Weekly = 4
                     o Bi-weekly = 2                      •   Bi-Weekly Max = 11
                     o Monthly = 1
            •   If you would like to order weekly, then
                22 is divided by 4: (22/4)                •   Monthly Max = 22
Step 5
            •   If you would like to order Bi-weekly,
                then 22 is divided by 2: (22/2)
            •   If you would like to order monthly,       •   Remember to round-up
                then 22 is divided by 1 (22/1)                to the next whole
            •   Your sum from any of the equations            number when a decimal
                above, become your Maximum                    point appears.
                amount depending upon your ordering
                cycles.



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Determining Minimum Amounts
            •   To determine Minimum amounts:            •   Weekly Min = 2
                   o Please consider the following:
                             Once the item is            •   Bi-Weekly Min = 5
                             ordered from the
                             supplier… How quickly
                             does it arrive to your      •   Monthly Min = 11
Step 6
                             door?
                             Can you afford to run
                             out of this item?
                             Do you require a buffer
                             for this item?



Your Reorder Amount is?
            •   To determine your order amount…
            •   Subtract Minimum from Maximum and
                the sum of the two is your Reorder
                Amount.
Step 7




STOCK TAKE

The purpose of a Stock Take is to address any inaccuracies that may exist in your inventory. By
addressing such, you can determine the use of a product or determine if stock is missing. In the end…
The stock take enables you to address the past and start fresh. Starting fresh means, that all stock items
are accounted for and is balanced (the stock item is at “0”).

The stock take begins by printing a full stock report. To complete a full stock report… Please follow the
following the path: MANAGER > REPORTS > PRODUCTS > STOCK LIST




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   •   You can view, print, email, create an Acrobat PDF and Excel spreadsheet.




   •   You can filter by Product Category, Brand and Stock Type (Colour, Professional Stock, Retail
       Stock)

   •   The report lists: Stock brand, Category, Description, Volume, Cost, Sale Price, How Much is in
       Stock, Minimum Amount, Maximum Amount and How Much is On order.

It is recommended that a full salon\spa stock take is printed for each stock type. Furthermore, use the
report as a guide to record stock quantities as you complete your stock take.




Once you have counted and recorded all stock items on the Stock Report. The next step is inputting the
recorded stock numbers.




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INPUTTING STOCK ITEMS FROM STOCK TAKE
Please follow the following path: MANAGER > PRODUCTS > STOCK TAKES > DO STOCK TAKE




Please note the four tabs at the top of the screen (Retail, Professional, Colours and All). Toggle between
tabs when entering quantities for Stock Types.




Above you will find four columns: Descriptions, Unit Vol., Price, Min and Q.

To enter the amount of the stock item, find and double Click on the description. A keypad will appear on
the screen. Using this keypad, input the amount that you have in stock. Your number will appear in the
last column beneath the “Q”. Follow this same procedure for Retail, Professional, Colours and All until
you have entered all stock item amounts.




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SAVING STOCK INPUT
In a busy salon\spa you may find that completing a stock take at one sitting difficult. If you need to book
another appointment, collect money from a client or any other activity… Please do the following;


Step 1    Click OK

          When the Confirmation Pop-Up “Do you
Step 2    wish to apply Stock Take now? Click NO.
          This will bring you to the Stock Take Screen.




          When the Stock Take screen appears Click
Step 3 OK. When you Click OK you will return to
          the Manger screen.




          From the Manager screen you can manuever
          to any other screen to complete your task
Step 4    (i.e. book appointment, accept payment for
          an appointment, sell a voucher etc.)




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RETURNING TO or EDITING STOCK TAKE
To return to your incomplete Stock Take, please do the following:


Step 1     Follow this path                              Manager > Stock Take
           Please note that your last stock take will
           appear with the date and time with which
           you initially began the stock take. Click
           once to highlight the incomplete stock take
           and Click Edit.

           Each line represents a stock take. The Dark
           Green Line represents a completed stock
Step 2     take. A White Line represents an
           incomplete stock take.

           NOTE: If you exit and return the stock take
           area. You will find that M6 creates a back-
           up copy of your incomplete stock take.
           Please delete past incomplete stock takes
           once you are satisfied and updated your
           stock take.




           Clicking Edit returns you to the stock
Step 3     screen. This screen permits you add or edit
           new stock amounts to your inventory.




COMPLETING STOCK TAKE (Reconciliation Report)
Once you have entered all the numbers in Memento 6 that was recorded from your stock take. There is still
another step that we suggest… The next step requires that you complete a Reconciliation Report and
compare what you had in stock with what you recently recorded. The Reconciliation Report lists the
following:

   •     System Stock: Is an accounting of stock through Memento 6. Memento 6 accounts for stock
         through retail purchases, subtracting professional stock from inventory, adding new stock to the
         inventory when it is delivered, returns and exchanges.

   •     Stock Take: All stock on the premises that is counted or documented why it is absent.

   •     Difference: The Difference is an accounting of stock left in inventory after comparing what the
         system states is in stock versus what your stock states.




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NOTE: You will find three columns in the Stock Reconciliation Report (System Stock, Stock Take and
Difference). If you should find the following beneath the Difference Column:

   •   Positive whole number = Overage or excess stock
           o The cause of overage in stock or excess stock could be due to:
                      Miscalculation or miscounting during stock take
                      Error in entering stock in M6 that was delivered by supplier
                      Customer returned product incorrectly processed through M6
   •   Negative whole number = Missing stock
           o The cause of missing stock in M6
                      Miscalculation or miscounting during stock take
                      Error in entering stock in M6 that was delivered by supplier
                      Stock item used in salon and not recorded
                      Theft
   •   0 (zero) = Balanced
           o System Stock and Stock Take are equal. Therefore the stock item is equal.


If the difference of your stock item is anything other than 0 (zero), consider recounting the stock item or
locating the error. Once this has been done to satisfaction, re-enter the new totals in the Stock Take page.




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COMPLETING STOCK TAKE (Update Stock)
The action of Updating Stock replaces your old stock levels with the new stock totals that you have entered
or modified.

Step 1   Follow this path                               Manager > Edit

         Click once to highlight the incomplete stock
         take and Click Edit.

         Each line represents a stock take. The Dark
         Green Line represents a completed stock
         take. A White Line represents an
Step 2   incomplete stock take.

         NOTE: If you exit and return the stock take
         area. You will find that M6 creates a back-
         up copy of your incomplete stock take.
         Please delete past incomplete stock takes
         once you are satisfied and updated your
         stock take.




         Clicking Edit returns you to the stock
         screen. This screen permits you to add or
Step 3   edit new stock amounts in your inventory.
         When the modification is completed, Click
         OK.




         A confirmation pop-up will appear asking
Step 3   “Do you wish to apply Stock Take now?”
         If you are satisfied Click Yes.




                                                                                                             




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         M6 will state the “Operation Completed”.
         This means that your past stock was
         replaced with your most recent stock take.
Step 4
         Click OK and return to your appointment
         screen.




DAILY INVENTORY OPERATIONS

Daily inventory operations include ordering, receiving and accounting for stock when stock is either sold
(Retail) or used during a service (Professional).



SUBTRACTING RETAIL \ PROFESSIONAL STOCK
Each time a product is purchased through Memento 6, Memento 6 subtracts the Retail Stock item from
your total inventory. To subtract Professional Stock from inventory requires that it is manually subtracted.

Subtracting Professional Stock from inventory:

Subtracting Professional Stock by Scanner or Manually

Step 1    Follow this path                             Purchase > Professional


          Either scan the product’s bar code with
Step 2
          scanner or manually entering number


          Click Yes to continue.
Step 3    (Note: This Warning will appear if bar
          code is enter with scanner or manually)                                                          



          Enter the number of Professional Stock to
          be subtracted from your inventory.
Step 4
          (Note: This Warning will appear if bar
          code is enter with scanner or manually)

                                                                                               

          Once you enter your number, Memento 6
          will automatically return to the Purchase
Step 5    Screen. The Professional Stock is                                        
          successfully subtracted from your
          inventory.




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Subtracting Professional Stock by Search

Step 1     Follow this path                               Purchase > Professional


           Either scan the product’s bar code by
Step 2
           searching product database. Click Select.




            Filter either by Description, Brand,
           Supplier, Category or Barcode. You can
           also scroll up or down until you find the
           Professional Stock Item. When you find
Step 3
           the desired item, Click once. The
           selected item will be highlighted blue.
           Indicating that it is the desired item. Then
           Click OK

                                                                                                             

           Click Yes to continue.
Step 3     (Note: This Warning will appear if bar
           code is enter with scanner or manually)                                                       


           Enter the number of Professional Stock to
           be subtracted from your inventory. Enter
Step 4     your number using the pop-up keypad.

           (Note: This Warning will appear if bar
           code is enter with scanner or manually)
                                                                                             

           Once you enter your number, Memento 6
           will automatically return to the Purchase
Step 5     Screen. The Professional Stock is                                      
           successfully subtracted from your
           inventory.




NOTE: The best practiced used in most salons to organize Professional Stock input is as follows:

    •    Label a trash bin Professional Stock Bin.
    •    Place the Professional Stock Bin in a central area and out of sight.
    •    As staff empty product containers, they place the empty containers in the Professional Stock Bin.
    •    Each night a selected person scans out the items found in the Professional Stock Bin.
    •    Once the items are scanned, transfer the empty containers to an outside trash bin.




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STOCK NEEDS AT A GLANCE

The most prominent items to the eye after Clicking stock (Manager > Stock) are the colours colouring the
stock items. Each colour reflects the status of that stock item. The colours are as follows:




•   Red       = Need to reorder immediately                    NOTE: In an early section, Minimums
•   White     = Stock in good standing                         & Maximums were described. To
•   Green     = Stock item is on order                         ideally have the system work for you, it
•   Yellow    = Caution stock approaching minimum level        is recommended that the Minimums &
                                                               Maximums are completed and entered
                                                               for each stock item.

ORDERING

To determine what to order begins by competing a Low Stock Report. To complete Low Stock Report…
Please follow the following the path: MANAGER > REPORTS > PRODUCTS > LOW STOCK




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   •   You can view, print, email, and create an Acrobat PDF and Excel spreadsheet.




   •   You can filter by Product Category, Brand and Stock Type (Colour, Professional Stock and Retail
       Stock)



It is suggested that you print out a full Low Stock Report for Colour, Professional Stock and Retail Stock.




                                                                                       




In the above report, please note the following:


   •   Product Category                                     •   In stock (How much)
   •   Product Description                                  •   Reorder Amount
   •   Product Volume                                       •   Total Cost

The Reorder Amount is the number entered into Memento 6 to generate an order for suppliers.




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ENTERING ORDER AMOUNTS
Please do the following to order stock with M6

Ordering Stock with M6

Step 1     Please follow this path                         Manager > Sock > Create Order

           Enter numbers found on your Low Stock
           Report into the Stock Screen in the
           column marked “Q”.

           Please note the tabs at the top of the
           page: Retail, Professional, Colours, All.
           Remember to select the correct tab when
Step 2
           entering your totals.

           You can search for your stock Item by:
           Description, Brand, Supplier, Category,
           Barcode or you can scroll up and down
           using the scroll bar or up and down
           arrows on the right hand side.

           To enter amount double Click column
           “Q” on the row of the reorder product.
           Enter your amount using the pop-up
Step 3     keypad.

           When satisfied with the amounts entered,
           Click OK to confirm.                                                             

           If the following Confirmation pop-up “You
           need to give this product a supplier
Step 3a    before you can order it” appears, then
           you must return to Manager > Suppliers
           and enter Supplier information.                                                                      

           When OK is Clicked as stated in Step 3,
           M6 will direct you to the Orders Screen.

           M6 automatically itemizes products by
           Supplier and colour for ease of order.

           Orange = Item is to be order or Ordered

Step 4     Green = The order has arrived and the newly
           arrived products were successfully entered in
           M6.

           Lime Green = Received partial order from
           supplier or the initial order was modified.

                                                                                                                




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          To access completed order form,
          highlight line item and Click Print or
          PDF.

          This form lists: M6 generated order
          number, Supplier Name, product
Step 5
          Code, Product Description, Quantity,
          Item and Total Cost excluding
          Vat\Tax.

          From this form an order can be
          placed.




MODIFYING ORDER AMOUNT

When placing an order, there may be a need to modify the order amount.




         If the order requires modification, double
Step 1
         Click line item or Click Edit.




         Select the item that requires modification
Step 2   by selecting the row and Clicking edit or
         double Clicking the Line item.




         By Clicking Edit Arrived, the amount of
         stock delivered by supplier can be edited.
Step 3   By Clicking Edit Quantity, the amount
         of quantity initially ordered can be
         modified.




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RECIEVEING ORDERS AND DOCUMENTING ORDERS
To insure that M6 successfully monitors, reports and account stock activities, it is important to enter stock in
M6 upon arrival and before salons\spa use.




Step 1    Please follow this path                      Manager > Order  




          If the order requires modification, double
Step 1
          Click line item or Click Edit.




          Select the item that requires modification
Step 2    by selecting the row and Clicking edit or
          double Clicking the Line item.




          When satisfied with any necessary
          modifications, please Click Arrived or
Step 3
          All Arrived. This action will add new
          stock to your inventory




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                                   Phorest Contact Info

                                    Dublin          01 874 7800
                                    London         08 45 082 2411
                                         Info@phorest.com
                                        www.phorest.com
                                      www.myzanadoo.com




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