Read Receipt

TermiKnowledge - Supply Chain, Procurement and Inventory Terminologies
View All
 
 
 
 
 
 
 

If you are in a supply chain management business, then you know how important it is to track inventory, sales, and purchases. This is where a read receipt (or RTC) system can be a huge benefit to your business. Read receipts enable you to enter information into your computer, and at the same time automatically send an electronic invoice to the person that you need the payment to be made to.

The way that you get read receipts is pretty simple - first, you will need to have a point of sale terminal or computer where you can input all the items that are sold. Next, you will hook up the computer to your Receipt Control Panel, which will allow you to enter the details of the sale - including the items that were sold, their sale date, the items' invoice amount, and their price. You will also be able to enter an invoice number, and if needed, an address and phone number of the recipient. Finally, once you have entered all of this data into the computer, you will hook it up to the Internet so that anyone can order from your company.

How does this work? For example, if you sell books to customers, and you receive an individual book receipt with their name and address, you can attach a link to that particular receipt to let your customer open it. By doing this, you are sure to get full payment for that particular book. However, if the customer leaves the store before you have time to print out all of the books, then you will not charge anything for those books. This is why the ability to read receipts on your android phone is such a great feature, because you will never miss a single sale.

CIOP Webinar Series

Learn the Global Best Practices in Supply Chain Management, Procurement, and Inventory Management.

60 Minutes of Learning + PDU Letter

Register Now

Do Do you want more information on Certified Inventory Optimization Professional?

Fill in the form to download the quote.