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Every business have some kind of inventory. Whether you stock merchandise for sale or ingredients to make meals, your store needs to track all supplies. If not, you may become overwhelmed with an excess of goods, or you might serve spoiled milk to your customers!
Much like you have to keep accurate records of all financials, you have to use small business stock management to keep exact stock levels. Fortunately, technology offers a few different ways to create a simple inventory system for small businesses.

What Is The Purpose For Inventory Management?

With proper inventory management, the staff can quickly check your stock and will know where to find it. Else, the worker should look through the entire stock room to determine whether the store has the item. One option takes minutes, while the other can take hours.

Small business inventory management helps enterpreneurs oversee the flow of stock, plan their finances and create staffing schedules.

In retail industry, there are a many situations where retail assistants are likely to face and each individual requires a range of multiple skills. Staff will be required to deal with multipurpose jobs, and reliably perform under pressure while remaining dynamic and flexible. Maybe more than any other, soft skills like patience, empathy, friendliness and excitement are at a premium in the retail sector.

In spite of the fact that jobs in the retail sector don`t usually require proper training, laborers with a strong, unmistakable skill set are required. So, in case you`re looking for new staff in your retail store, or are personally looking for a job in retail, beneath are a few skills that you`ll have to check off your list.

Desire To Help Others

One of the most significant characteristics to search for in a retail sales associate is a genuine interest in helping other people. Since retail is an industry geared towards making customers lives easier

Advantages of Retail Epos System

Epos inventory management system is an upgrade from the use of a cash register. SME’s who sell services and not products may be able to survive with only a cash register and a basic accounting system. If your business is product based, chances are you will in the end need to switch to at least a simple POS system. With a retail POS, you don`t need to worry how much stock you have available. The retail POS tracks that and you have the data at your finger tips.

A retail POS allows an entrepreneur to have more than one business location and adequately track stock at each without being present — no more worries over staff theft or pricing irregularity between one store and another. The supervisor can be away and not worry about staff theft. Staff efficiency can be maintained. POS system deals with those issues that result when the management is

Step By Step Process To Fix Retail Shrinkage

According to a survey shrink or loss of stock related to theft, shoplifting, error, or fraud, is decreasing the bottom line by £50.6 billion across the business. The complete report found that whether the loss is happening from a single employee or organised retail criminals. The shrinkage costs about 1.38% of sales, on average.

It is important to know these issues and implement a strategy to reduce their impact.

Shoplifting

The biggest problem faced by brick and mortar stores is the 5 fingers discount. Shoplifting accounts more than £13 billion pounds damage to UK retailers and just 1 of every 48 are caught, with just 50% of these being gone over to the police.

Concealment is the most used method for robbery among shoplifters, so smaller things are especially vulnerable. Other methods include picking multiple p

Today, POS systems can do a lot more. They can feed data on sales directly to your accountant, track stock levels and even find the best sales staff.

A till has become the crucial part of a business and if that falls short it can send your business into disarray, so it is important to choose a system that truly works for you. Here are some key points to consider when trying to find the right POS for your business.

Consider the Cost

While choosing a till you have to take a look at the amount you are willing to spend. A till paid off-the-shelf may set back you a few thousand pounds while a few EPOS systems can be run off a small device like an iPad with a subscription to a Saas plan.

Managing Customer Expectations

The greatest challenges new businesses face is dealing their customers` expectations with the latest technology.

If people come into pay with a mobile or contactless card as they have been doing with grocery

Important Updates

In case if you are re-opening your business in the month of July, then there`s a good chance you`ve spent some time away from your POS system.

In the past 3 months, we`ve been working on various epos software updates to our systems. It`s advisable to turn on your Epos Direct system and complete these updates when you can, leaving a lot of time before the big day on July 4.

Setting up your Device

How to install updates?

To install updates, just turn your system on. As long as the epos system is connected to the internet, it will constantly get the latest updates. When you first sign in and open your till system, you can receive the latest updates.

What if I have issues in installing updates.

Since you are been away from your epos for quite some time, there are possibilities that your system may stuck. In such