Control Stock With Point of Sale Technology
Point of Sale Technology goes far beyond the simple cash register and figuring out how much change to give to the customer these days. Retailers are discovering how a combined point of sale (POS) system increases productivity and makes all record keeping for the business so much easier. Here are some of the ways that new POS technology can help your retail business to control stock and increase profits by reducing staff time on stock control. If you don’t have the stock the customer wants available, you may lose sales, but a good and efficient stock control system will ensure you never again lose a sale due to lack of stock.
Increase Efficiency for Staff
By combining your stock control system into the point of sale technology, you increase staff efficiency. Instead of having to go out to a storeroom to check if the size the customer has requested is available, the customer service representative can simply press a button and discover what sizes of a particular product are in stock. The POS system can help your staff answer customer enquiries efficiently, as well as reduce the amount of time in the storeroom, instead of serving customers.
The POS computer includes the POS inventory software, so your staff always have an up to date inventory. As your customers buy each item, the inventory software automatically updates as the staff register the sale on the POS computer. This reduces the need for lengthy weekly reporting to know what to stock to order. You can also easily remove out products from the sale as they are registered in the software.
Keep Records of Stock across National Stores
You can retrieve stock information and historical records of your product sales anytime, anywhere from the POS computer. This data can help you to plan for the future based on past trends, trends that have occurred in the past. You can use the POS computer system to balance your sales throughout the country to improve your inventory allowances, or to plan for national sales promotions based on areas that have a lot of concentration. You can see how other retailers in your area are doing it, which gives you an idea how effective your marketing is, and helps you to improve your own marketing as well.
The POS computer gives you the ability to keep your records electronically, which makes your job of adjusting stock or invoicing easier. You can also manage your employees through the information in your system, seeing who is who and when things are done. Instead of going through emails and phone messages that can take you away from serving the customer, the POS computer can provide you with instant access to the information you need, when you need it most. This makes your service an easier experience for your customers and yourself, increasing satisfaction.
Stock reports and historical data is available to all retail stores. You can retrieve all information as soon as it is entered into the POS computer, saving time and frustration. The sales ledger is a vital tool in planning and running your business. You need to know what your customers have bought since entered into your store, so you can give them the information they deserve for a special offer or additional discounts. Stock reports are also needed for Quickbooks, along with the Job Costs Report.
Integrate Your Store With The POS System
The POS system will integrate with your retail store’s settings, allowing you to easily change the stock levels in the checkout, or program the system to automatically reorder common products that are in stock. Stock reports can also be used to integrate your POS system with internet websites, email, and mobile devices that can be sent out to your customers, enabling them to make purchases safely and securely from wherever they are.
The benefits of a POS system are endless, but if you want to improve your bottom line by making stock appear on the shelves in an efficient manner, invest in a top quality retail inventory software system.