5 Ways to Manage Your Retail Inventory With Your POS
A retailer’s biggest investment is its inventory. No inventory. No sales. No business. That’s why it’s smart to invest in a point-of-sale (POS) system to help manage your biggest asset. Here are some POS software features many retailers find useful when managing their inventory.
1. Automated Updates to Sales
Enter inventory by scanning barcodes or uploading a spreadsheet. When a sale is made, the inventory count is automatically updated.
2. Trigger Alerts
Nothing is worse for a customer than finding out you’re out of their favorite pair of jeans. With your POS system you can set up triggers for low-stock thresholds. That way you will automatically be alerted when it’s time to order more, keeping your loyal customers happy.
3. Create Purchase Orders
When it’s time to reorder items, it’s easy to create purchase orders with your POS software. Keep track of your vendor information and link details to products. Then when your shipments are received, your inventory is automatically updated.
4. Real-time Data Reporting
At any time monitor your inventory levels so you know how much of each item you have available in real-time.
5. Manage Shrinkage
Tracking your inventory with a point-of-sale system can help prevent shrinkage. If merchandise is stolen, a POS system can tell you. It can also create employee accountability. Employees that know inventory is counted will be less likely to steal.
It’s hard to deny that a POS system has many features that can help manage your retail inventory. Call Bepoz so that we can help you with your business’ inventory management.