To know how your items sell, you need to analyse every little shift in the market. Sometimes, it also helps to review the history of every item in your stockroom. Imonggo allows you to do this. Go to Stockroom -> Products to view the stock history, cost history, and price history of an item by clicking the history button under each item.
The Stock History link gives you a view of the Transaction History and Sales History. This helps to identify the level of demand of each item and the types of transaction that are often associated with it. For instance, if the Transaction History shows that you have a lot of Receive from Supplier transactions for a particular item, it means that that item is in high demand. This can, of course, be confirmed by the Sales History, which shows how often an item is sold, and how much of it is sold in a given time.
The Cost History defines the current reference cost, average cost, total purchased quantity, and total on-hand quantity of an item. The Cost History is helpful in identifying whether you earn enough profit for each item that you sell.
Pricing is essential to any business. It’s not just about the profit; pricing represents how you assess the value of a product. If you have reasonable pricing, your customers will be willing to pay. To make sure that you always offer the best price, it’s good to compare your old prices with your current prices. Price History gives you just that. It delineates the date, the old price, and new price of an item, while also defining which user changed the price.