Leading Inventory Management System
Rating: 9 out of 10
January 27, 2020
NV
Vetted Review
Verified User
5 years of experience
We use Fourth to procure & manage inventory for food & beverage and SPA.
The product is user friendly and robust which has given the flexibility to strengthen our internal controls without spending too much time. The stocktake has significantly reduced due to the capability of the system to set up locations & the use of mobile scanners to do the stocktake. The GL interface has automated the process and eliminated manual posting, thus reducing manual errors and increasing efficiency.
- Custom reports: It is very easy to link the tables and extract the required reports. We use it to verify the data entered (e.g. report to verify if particular recipes have been pushed to all the properties, dates of the fiscal calendar, etc.), compile MIS reports, etc.
- Procurement: Integration with Trade Simple has played a significant role in increasing the efficiency in terms of quality of data, receiving & processing of invoices, updating of prices, etc.
Cons
- Wastage: it is very difficult to track waste and include it in the COS report. We do not have any provision to record wastage. The only option provided was to set up a new outlet and transfer the wastage. Ideally, there should be a functionality to record waste in the cost centre so that it becomes easy to track.
- Brand Name: we do not have any report to extract information based on brand name. This will help when we need to compute the retros (discount provided by the vendor at the end of the year for reaching a certain turnover, etc.).
- Procurement: Integrating some of the key suppliers with Trade Simple has saved labour hours.
- Integration: GL Integrations have increased the efficiency and quality of data.