Imagine that it is Christmas season and all your 3 apparel stores across the city are getting flooded with customers like never before. You have managed to rope in all the best selling catalog, along with screaming “Discount” boards at every 5 steps. You are quite happy with how your sale is progressing. However, at one corner of your office, you are seeing a group of your employees breaking their heads over managing the huge stock of products, flowing in and out each day. Looks like they are having a tough time managing the inventory of your stores!
Sometimes, retailers who own the brick-and-mortar stores, tend to overlook the fact that management of inventory, if not done with acute precision, can lead to losses of considerable amounts. And, proper inventory management is crucial to the point of sale(POS), at a physical store. It is the checkout point at which transactions occur.
Importance of inventory management system for your POS
The back-breaking eating job in retail management is managing your stocks or inventory. And, if you are someone who owns multiple stores, it could drive you crazy. You will have to deal with thousands of excel sheets which will ultimately leave you exhausted at the end of the day. Now, it is an obvious fact that rather than 10 people breaking their heads over your stock accounts, a single software system that gives you accurate results would sound like a much better deal. Won’t it?
9 Reasons why you must have a good inventory management system
Here we list out some of the advantages of having an inventory system at your POS:
- With an inventory management system for POS, a business person can handle his multiple stores at different locations, without having the stress of being present everywhere.
- He will face no inconsistency with pricing products across his multiple stores.
- He can make sure that no unwanted occurrences, like negligence, or employee theft, happen.
- He can keep track of all the stock he has across all his stores on one single panel.
- He will not have to manually manage his inventory, which will take him hours. All he will need to update his stock will be a click.
- By looking at reports of previous sales, he can get an idea of the kind of products that are being sold more, and the kind that are sold less. By knowing this, he will know the number of products he should buy in future under every category.
- From the data available at the POS system, he will know how to strategize his business better, and know what offers to push to the customers, and at what time.
- Security is extremely important when it comes to your stock management. On an online platform, you have access to good security, rather than storing it in any other form.
- Some POS systems let you print barcodes for your products, aiding your inventory management.
It is imperative that being a retailer, you realize where exactly you should invest in order to gather profits.
At Primaseller, we have developed the most efficient, easy to use inventory management software for POS, as well as online retailers. Any retailer running offline stores can make use of our software which provides you with inventory management and barcode printing system for retailers.
Stay ahead by making the right use of technology.