Procurement and Inventory
Get the visibility you need to reduce waste and take control.
The Complete, Hassle-Free Procurement and Inventory Solution
Our Purchasing and Inventory software ties together ordering, invoice processing, inventory and recipe control. It’s fully integrated, mobile-friendly and you access it with a single login. Using predicted sales functionality and robust analytics, it lets you forecast demand more accurately – so you make better decisions. Now you can be confident that you have exactly what you need exactly when you need it.
Inventory
To run your business profitably, you need inventory management with full transparency and complete control – you’ve come to the right place!
Purchasing
Purchasing can be complex and difficult to manage. But with our solution, you’ll know exactly what and how much you need and when you need it. Purchase only from approved suppliers and pay only for what you order and receive.
Invoicing
Managing money with a paper-based process results in errors and inconsistencies. Improve the accuracy of all of your accounts payable activities, saving time and money.
Inventory Management with Full Transparency and Complete Control
Requisitions & Transfers
With our inventory management software, requisitions and transfers are child’s play. Requisitions are easily handled, whether storeroom-to-outlet or outlet-to-outlet, along with standard transfers, cross-property transfers and returns. The result is total cost-by-outlet visibility.
Mobile Stock Counting
With our mobile counting app, stock counting is fast and easy, allowing staff to count what’s in front of them rather than what’s on the sheet. And counts can be completed offline, with all data being uploaded to the system once a signal is available. No more paper, and no more errors from re-keying data.
Point of Sale Integration
Our inventory management system fully integrates with your POS, creating a complete business system to reduce costs and improve efficiency. You can see on-hand inventory in each outlet at any given time. And smart analytics gives you a complete view of your whole operation.
The Benefits of Our Inventory Solution are Endless.
But Here Are a Few:
Increase Accuracy
Real-time capture of discounts and comps increases accuracy.
Reduce Loss
Key metrics highlight the causes of waste requiring immediate action – and theft is easily identified.
Go Mobile
Complete counts faster and more accurately with a fully mobile solution.
Act Fast
Detailed line-by-line stock control highlights discrepancies between actual and theoretical, so managers can act quickly.
Move Stock Easily
Inventory management tools help you move stock easily through the business, eliminating excess stock-holding and avoiding over-ordering.
Speed Counts
Speed up stock counts and ensure accuracy by completing stock counts on mobile devices, even when there’s no signal.
Purchasing Control
Automate one of the most complex areas of restaurant and hospitality operations.
Supplier Network
Trading electronically through our automated supply chain saves everyone money. No other platform has as many fully integrated suppliers. PDF invoicing enables even small or low-volume suppliers to trade electronically. Electronic proof of delivery eliminates paper delivery notes and means invoices are handled in seconds, not days. And robust reporting means you stay in control.
Catalog Management
Online catalogs transform the purchasing process. They improve compliance and processing of guaranteed rebates. Vendor performance reporting makes it easier to see who your stars are, while smart analytics show you what needs attention. You can control pricing by exception and eliminate rogue buying. And automatic loading of products and prices removes unnecessary manual steps in your ordering process.
Ordering
See and control your spend in real time by using suppliers’ electronic product and price lists. Your gross margins improve because you eliminate maverick spending, achieve total purchasing compliance, guarantee rebates and reduce administrative overhead. Notifications of order cut-off times and secure ordering from a mobile phone or tablet mean orders are placed on time so you always have a full product range available. What’s more, ours is the only solution that links to suppliers’ delivery schedules – no more ordering products to arrive on a day the supplier doesn’t deliver. Clever spend analytics helps you easily identify where you can make savings or be more efficient.
Suggested Ordering
Our suggested ordering and guest service planning functionality uses the centrally generated sales forecast to help each site order the right products in the right quantities. Customers get their order quickly because the kitchen has prepped appropriately. Replenishment order quantities are calculated using par stock/reorder point and on-hand balances, and re-ordering for both purchasing and internal transfer is by par value/reorder point.
Budgets & Approvals
Our dashboards bring expenditure to life – and help monitor and track phases of CapEx. Pre-configured menus detailing procurement choices keep sites on-brand and working with approved suppliers. And a full, easy-to-use authorization process gives instant access to up-to-the-minute spend versus budget information.
Not to be Outdone – Our Purchasing Solution has Tons of Benefits too:
Speed Ordering
Speed the ordering process, order from anywhere, any time with our mobile app.
Reduce Costs
Reduce prices and overheads by automating and rationalizing your supplier base.
Automate Reminders
Get automated reminders before a contract expires with digital supplier contracts.
Eliminate Errors
Eliminate incorrect deliveries and inaccurate invoices.
Template Everything
Order faster thanks to templates, simple reordering and notifications.
Order Predictively
Keep stock available on every site and reduce waste with predictive ordering.
Invoice Processing
Reduce costs, errors, and paper.
Good Receiving
Our simple receiving app makes it easy to log orders wherever and whenever the delivery takes place. Features include automated cost allocation for freight and taxes, landed cost functionality and the ability to choose from direct charge or perpetual inventory. Payment can be made with card, check, cash or via accounts payable. Shipments can be easily palletized by ordering outlet. And smart analytics covering vendor performance and shorts reporting make it easy to see the full picture.
Invoice Matching
Automating this process eliminates human error and materially reduces the AP headcount. 100% line checking against contract price eliminates erroneous pricing. Smart reporting and invoice automation let you see your true invoice commitment. And automated credit note management and full integration with your accounts software make re-keying and errors a thing of the past. Our solution automatically generates a goods-delivered-not-invoiced accrual and reverses it when the invoice is matched.
Paper-Free Invoicing
Paper-free invoicing gives you a single process regardless of the size of order, supplier or what you’re buying. Your supplier just needs to print their invoices to PDF and email to you, and they’re converted to an e-invoice structure without the need for error-prone Optical Character Recognition (OCR). Aside from being more environmentally friendly, you get a more accurate process with less administration.
Finance Integration
With our invoice automation, matched invoices are sent to accounts automatically and seamlessly, regardless whether they arrived via EDI feed, a scan or direct entry into the system. Our solution makes the whole process simple and accurate. Spend is controlled and always visible – in real time.
KEN ENG
Operations Controller, Mandarin Oriental Group
“We chose Fourth because we needed our teams to be able to use a purchase to pay and inventory system on the go, without laborious manual, error-prone processes. I’d certainly recommend Fourth’s purchase-to-pay and inventory solution to other hotel groups. What sets Mandarin Oriental apart from other hotels is our attention to detail and our legendary service, and service is also one of the things that sets Fourth apart from the competition, too..”
Find Out Why Our Customers Say the Nicest Things
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