A majority of new RepairQ customers will consider revamping the way they manage inventory in their stores. It’s not that RepairQ can’t fit their current inventory practices; there must be something about moving software that inspires a fresh start / clean slate mentality.
Mobile device repair issues
Repair stores, in general, suffer from very unique problems that aren’t found in most other industries. These include but absolutely aren’t limited to:
1. Most your inventory could fit in large suitcase.
Yeah. Screws, tape, buttons, and even screens are very small requiring meticulous organization to keep up with.
2. All of your cell phone parts are expensive.
Unlike the coffee shop around the corner, your shop the average repair shop may carry 10 – 40K of inventory on hand at any given time!
3. The mobile device parts market is volatile.
Never since trading spices on the silk road, has there been a product so difficult to find, negotiate pricing, and maintain quality.
4. Most shops buy from multiple vendors
Like a virtual bazaar, most repair businesses tend to ‘shop around’ the virtual store fronts of parts vendors to collect the right parts, with the right quality, at the right price.
How RepairQ helps
RepairQ was built with these very distinct inventory management problems in mind and offers a range of features, functionalities and workflows to help!
1. Organization is the key
RepairQ is loaded with features and best practice recommendations for keeping your inventory organized. For example, RepairQ tracks catalog item association with ‘bins’ allowing you to specify in the system which bin, drawer or shelf it should live on. In addition, printing barcodes for large individual parts or for bins, helps visual recognition and organization of your inventory as well as provide a quick scan tag for check out of items.
Interested in how you can build a better bin system or leverage barcoding? Contact our support staff or learn more at http://support.repairQ.io
2. Tracking costs, profitability & loss.
Repair can be a high margin business if all the leaks are patched OR it can be a risky endeavor where profit is a moving target. RepairQ helps you identify cost with each new item you bring into inventory and associates that cost with each repair your perform (along with labor) so that you can track your COGS & profitability in real-time.
In addition, many stores suffer from profit loss due to parts failure. RepairQ has a distinct method for acknowledging bad parts that need replacement or refund by your suppliers. Tracking the RMA cycle can help ensure that ‘credit due from vendor’ doesn’t turn into a loss at the end of your accounting year.
Finally, it’s essential to regularly audit your inventory counts to ensure that loss / theft are kept in check. RepairQ comes loaded with an inventory counts feature that allows managers to assign blind counts to staff to help facilitate regular inventory audits.
Want to learn how to protect your profit through COGS tracking, profitability reporting or loss prevention? Contact our support staff or learn more at http://support.repairQ.io
3. Managing one part with multiple vendors, qualities and costs.
As mentioned in 2, parts quality is a fight that most repair store face. Keeping record of parts at the time of test or failure and pushing them through our RMA tracking can help you track credits or replacements due.
Due to pricing, quality or availability, ost repair stores purchase from a minimum of 3 supplier / vendors. This is why RepairQ inventory was uniquely built to track suppliers and their designated SKUs under one master catalog item. Theres no more more need to have 10 iphone 4s lcd digitizers in your inventory catalog! One part item can be purchased through multiple suppliers AND have their associated cost and condition tracked with them.
In addition, we’ve partnered with some of the top suppliers to prebundle their catalogs & SKUs in our system. If you new to RepairQ and have a relationship with a specific vendor, call us to discuss options for supplier imports.
Want to build a better catalog and track all your suppliers and their associate SKUs and cost all in one place? Contact our support staff or learn more at http://support.repairQ.io