The general ways of managing inventory are as below:

1) Allocate a stock code for each product he carry.
2) Issue a stock in for stock purchase. The details for a stock in are from which supplier he purchase, when the purchase is made, quantity & cost.
3) Issue a stock out for stock sold. The details for a stock out are when to whom the sales is made, when it is made, quantity & selling price.
4) Have a stock flow which act like a report to track your stock level. It is a computation for all his stock in and out for a certain period of time.

He will also want to handle situation like stock return, stock spoil, stolen stock & issue stock in/out depending on the situation.

The general ways of managing inventory are as below:

1) Allocate a stock code for each product he carry.
2) Issue a stock in for stock purchase. The details for a stock in are from which supplier he purchase, when the purchase is made, quantity & cost.
3) Issue a stock out for stock sold. The details for a stock out are when to whom the sales is made, when it is made, quantity & selling price.
4) Have a stock flow which act like a report to track your stock level. It is a computation for all his stock in and out for a certain period of time.

He will also want to handle situation like stock return, stock spoil, stolen stock & issue stock in/out depending on the situation.

Thanks a lot man.

I've been told there is a system you can use to do all this at once in computer. KITT says it pos system. Do have knowledge on this what is the good option available for small store?

if mass produce usually suppliers will already have their barcodes, you just need a barcode scanner & codes from vendors then when stock arrive you can just scan them then you can key in the other datas, assigning own code can be problematic & prone to human errors, as you need to develop a good numbering system, easy when you just started, but as you expand your inventory you realized original system not enough to cover. Suppliers already have their numbering system worked out.

you can also add 5) that does the sales profit calculation automatic with data from 2 & 3.

all gst pos machine also keep track of your stocks and has a receipt printer attached brah. minor worries.

I believe the supplier will teach you how to use also ya

if it's an area not covered by vendors here, are the items your friend selling easily ordered from suppliers? if yes, once the vendors see there is a market they left out, they will start to stock those items & sell at more competitive prices because they are big players high capital & buy in bulk so they can get more discount price.

so even if your friend can make money the 1st year, he will soon face competitions not just from established big players but also new comers who see the opportunities, so your friend will need a plan B like sell things that offer New potentials, and keep doing so because others will play catch up, so unless your friend is capable of designing some stuffs he can contract the manufacturing to China and he will have some original designs, others will copy & beat you with cost cut & lower price, but you will have to keep your products unique. look at Dyson, they are innovative leaders with tons of cheapskate brands copying & chasing them. and anything that manufacturers in China, will have copy & fakes coming out form the same Factories.

easy, just hire win7 as your salesperson.....confirm can make at least 100K in sales per month....

Small store with small capital can't afford to hire him if like that. Not sure if he even interested to work as store sales person

I think his business plan is not to compete with the big player nor taking their market share. He want to cover the area where the big player unable to cover or not worthy for them to cover. What do you think?

A small capital business are lucky enough if can survive and make a bit of profit.

no eh. supplier dun care one about your pos lol. look out shop gulung. they will let go of their pos system real cheap. plenty of shops gulung tikar every month.

stock keeping is not complicated at all. just survey if your business ada profit atau tidak. plenty of bakery kitchen stuff suppliers out there. camp near and tengok the foot traffic for yourself.

Supplier dun care about you la,unless you from big co.Physical  shop most likely will fail or worse breakeven until u dont have motivation anymore.Thats why a lot go onliine now not much overhead,if fail just open another website/fbpage.

Please dont hire him. Even office internet unifi also open thread asking how to curi.

Damn. Hoping him mati kena langgar kereta. Songlap jee tahu.

There is small area they have not cover yet which I think my friend wanted to cover.

It should be very cheap otherwise the people who bought from you can't really make profit

money is like blood, when there is money to be made the sharks swim in. they might think it's not worth it but when your friend starts making good money they will unless like you say they, as big players, for some reason, are unable to cover, for example AP granted to specific businessman.

easy, just hire win7 as your salesperson.....confirm can make at least 100K in sales per month....

Please dont hire him. Even office internet unifi also open thread asking how to curi.

Damn. Hoping him mati kena langgar kereta. Songlap jee tahu.

Sekali say ur equipments not halal.. u can close shop already..