Scan-based Trading Software

Scan based trading is when the retailer you distribute to, pays you directly into your bank account, every single time that a product gets scanned out of the register. This mode of operation can be beneficial for you as long as you have tight control of the product flow. Through agreements with Nexus and ParkCitigroup, the LaceUp’s Scan-based Trading software generates the invoices of scanned sales in the store and calculates the difference of remaining items versus store inventory. If the difference is significant, the LaceUp partner passes that difference to the store.

  • Keep track of scan trading inventory
  • Generate invoices of items scanned in the stores

  • Reconcile the information from the scan trading provider with the data from LaceUp scan-based inventory
  • Reduce shrinkage

Scan Based trading inventory

LaceUp’s scan-based trading software allows the driver or sales rep to create and change inventory levels for any customer, based on the sales history and the store inventory. The difference between the scan trade level and the actual inventory is replenished and deducted from the truck inventory, and not subtracted from the store inventory, since the actual sales are to be reported by the scan-based trade service provider. Instead, those “theoretical” sales are loaded to a temporary SBT file in the LaceUp scan-based software.

mobile invoicing and printing quotes

Invoicing of scanned items

LaceUp has an agreement with two of the major players in the scan-based trading market: Nexus and ParkCitigroup. Under this alliance, the scanned sales of any customer that works with any of these service providers, are sent daily to LaceUp. With this information, LaceUp scan-based software generates the invoice and subtracts the sold quantities from the store’s inventory.

manage truck inventory icon

Reconciliation of scanned sales and inventory data

The list of products under the SBT agreement, scanned in the store and invoiced, is compared with the “theoretical” sales stored in the LaceUp’s SBT file. If there is an overage, one will know which driver was responsible and proper action would be taken. But in case there is a shortage, the difference or shrinkage is sent to Nexus or ParkCitigroup via FTP. If this difference exceeds a predefined threshold, that shrinkage will be allocated to the store, as stolen goods. This information provides the tools for you to invoice the stolen items.

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