Most retailers don’t use a POS system for inventory. They rely on Excel spreadsheets or do it usual way – writing on paper and tally items. This steps are ineffective and prone to human errors.
Retailers should open their minds to automated inventory system. Automated process always offers time efficiency and reduced cost. Modern POS systems offer this and you must find a system that matches your business need.
Once you find the POS system, you have to learn the process of inventory system on and how it will work on what you have
Here are the key factors: Read more Buy & Sell POS
Create a system and do physical count
Retail store usually have a backroom or warehouse where you keep the goods. Cleaning and counting the items is a way to keep everything its proper place.
Everyone will feel excited once its accomplished. It clears our mind and helps do our task with tact if our environment is free from mess. Ease of finding items and store to inventory. You don’t want to see a pile of items on the rack falling to you due to your negligence for orderliness.
Consider to itemize each goods and label them with details. Having the specific kind of item makes your inventory useful. It will have a positive effect with your POS system since you will be able to track it fast and automate things soon. Sales report is more reliable and accurate to see the fast moving items.
Having a Product ID and Uploading for database storage
Database is where you store all the information of the product. You can import the data and upload to the database. Scanning the barcodes and creating a SKU or PLU which gives vital information on the POS system.
POS vendors can do all the work for you or have a training to teach on how it works. Knowing how the system works will make the job easier and faster.
This will lighten burden of inventory. Make the flow for order, restock and adding items smooth. Setting safety margins is another way of getting it done steady.
Initialize Inventory Alerts and Get Automated
Setting a safe zone or margin is necessary with POS system. When the stock goes zero, it will define one thing: negative impact on the business. Customers will turn their back and deal with another company. As you think there are other customers out there, they can also think the same way. There is other business there who can provide better service than you do.
We cannot avoid that some items will expire, become obsolete or damaged. Customers should know the situation and have preventive options. We should have a clear agreement with the manufacturer how these scenarios will take. Customer handling is never easy yet being able to meet their needs is rewarding.
Having the right POS system and checking reviews from other people is essential. Finding the right system and sharing your experience will make other retailers learn.
Learning to inventory items will take a lot of time. From the POS system to integration to the process it may cause you to think twice. Once automation has been set everything will flow fine. Stores are the busiest places and it is an effort to provide training. Knowledge about the system is definitely a key to grow and stay longer.
Being open to changes and adapt to it. A POS system that can automate everything and employees that make sure they know how it works. Good management and employees who can deliver will meet customer satisfaction guaranteed. Right process leads to a successful retail business.