If you own a restaurant or a retail store that sells more than a few items, you need a Point-of-Sale (POS) system with great inventory management software. Tracking your stock manually on a piece of paper or in an excel spreadsheet is tedious, time-consuming, and leaves you open for human error leading to loss of sales and profits. No business owner wants that!
If you are feeling a little overwhelmed about how to control your stock levels, let us help. Here are 4 simple steps to choosing the best inventory management software.
1. Know Your Stock Needs
First evaluate your current inventory management software and results. Ask yourself these questions:
- How often each month do I run out of inventory?
- Do I over-order? What money am I losing with excess stock?
- Would a barcode system help me?
- Do I know what my best and worst selling items are?
- Does my current system automate promotions and discounts or am I doing it by hand?
Identify where your business is lacking and where it is running efficiently. Make a list. This will be helpful when comparing inventory management software.
2. Know the Value and Cost
Inventory management software is an investment in your business. It can help streamline your operations, maximize your profits, and steward relationships with vendors, employees and customers.
Once you understand the value, you can think properly about the cost. How much do you want to spend up front or monthly? The prices vary. At Bepoz, we work with many different budgets to provide the best service and software to our customers.
Choose Your Software
Consider these criteria:
- Ease of Use – You and your staff need to be able to use the software easily.
- Credibility – Make sure others like you are using the same inventory management software. What are they saying? Check out Bepoz’s credibilityand testimonials.
- Reporting/Analytics – How easy to read and organized are the reports and analytics? How far can you drill down and customize your reports?
Implement Your New Software
Start by asking your vendor for a list of things to do to prepare to prepare before the big roll out. You’ll want to start using it right away. Make sure you set aside time for your personal training as well as your staff’s.
In summary, these 4 steps are simplified and meant to give you a guideline. It will be hard to work to find the best inventory management software that fits your organization, but in the end it will be well worth it. Have more questions about inventory management software? Give Bepoz a call. We’d be happy to provide answers.