Manage Your Inventory with EPOS Systems
Independent and small business retailers specifically may battle with stock control – big chain of businesses has their entire departments dedicated to inventory administration.
The present day stock control systems aren`t only for chains. As the technology has developed, it`s turned out to be open notwithstanding for the smallest independent merchant.
combination of stock control with a feature packed EPOS system is currently the standard, implying that you don`t have to purchase two separate systems or stress over integration. This setup likewise incomprehensibly enhances the accuracy of your stock levels.
Let us see how EPOS systems can help you manage your inventory levels.
Over stocking vs. Under stocking
Having too much cash wrapped up in stock can cause immense issues for businesses. Insurance and storage costs rise and obsolescence debilitates to create dead stock that you can`t offer. In the end you might be compelled to offer abundance stock at a critical markdown only to clear the way for next season`s items.
Keeping too minimal stock can be similarly harming. Customers can`t purchase void racks. An `out of stock` notice acts as an immediate motivator for customers to visit your competitors.
Stock levels in an EPOS system give you an exceedingly precise picture of current stock levels of each and every item. Reporting functions let you sift through historical data to see how rapidly every item sells at a given season, enabling you to design conveyances and purchase orders with precision.
Automated Purchase Orders
More over EPOS systems like Trader enable you to allot reorder points for individual items. At the end of a predetermined period (a working day/week), the software will check which stock levels are at or underneath their reorder points. Purchase orders are then populated automatically with the pertinent items and quantities. The customer can change the figures and send the buy orders electronically. The entire procedure takes seconds.
This function turns stock requesting from an agonizing long distance into a direct sprint. It lessens human mistake, forestalls over stocking and under stocking, and liberates staff time to commit to more imperative tasks.
Another key to stock management is discounting. Promotions, sales and events move stock that is battling or can expand average order value. Obviously, a poorly planned deal can imprint your funds and cause cash flow issues.
Give your promotions the most obvious opportunity with regards to meeting their goals with an EPOS system. Have a look at how past events affected sales of specific items or product categories. Learn from what worked, and what didn`t. Look at net revenues and stock levels to figure out which items to advance and the kind of promotion you should run.
The stock information in an EPOS system is amazingly profitable to your business, yet it`s true worth which is determined by how you utilize it.