Managing your inventory does not have to be a time-consuming task. If you use retail EPOS software, you may not be utilising it to its full potential. There are many features available that will help you make quick and smart decisions in regard to inventory and stock. In the long term, good management could boost profits and help your business be more efficient.
Business owners know the key to success and customer’s happiness is always having the popular items in stock. Good inventory management means you are keeping the popular products available, and reducing the supply of the not-so-good sellers. EPOS software can help you to identify what is popular and what is not, so you can make decisions when you restock and order more.
Quick Price Change
Increasing or decreasing your prices by a few pennies or pounds does no longer require you to pore over spreadsheets, as EPOS software features allow you to make quick changes, even on wholesale. You can leave the calculator behind, simply entering a formula is what it takes to make a price change.
When you know what is selling well, you need to focus on restocking the popular items. EPOS software offers an automated reordering system, which enables you to keep the best sellers on the shelves and maximise your profits. Of course, you don’t want to let the EPOS software have complete control, in the event of an error you can make adjustments, but the automatic system gives you the time to focus on customers.
When you carry out regular inventory checks, you need to make sure the physical items you have in stock does match the records. Keeping accurate records saves you time, and if you know what you have available, you can avoid over-ordering items you don’t need. This can help reduce waste and cost to your business. EPOS software will assist you in comparing inventory records with the physical inventory, so you no longer need to count item by item. You can also use the software you have to compare invoices with orders, which simplifies your management of the inventory.