Tobacco Store Inventory Optimization

Optimizing your inventory means that you make the most of your products without over- or underbuying. In the video below, let’s explain how Bepoz Point of Sale Systems provides powerful tobacco store inventory optimization tools for your tobacco business. And you will also learn how to optimize your savings via your inventory reporting.

Inventory Optimization for Tobacco Stores

What is inventory optimization? In a nutshell, it is a method of inventory management that ensures you are using your in-stock items effectively. It is also one of the most powerful features of Bepoz Point of Sale Systems.

Many business owners set up automatic purchases for the items they supply. This can be disastrous for profits if you continually stock up on low-performing products. Bepoz will help you make perfect decisions about what to have and keep in stock at all times. In fact, Bepoz POS has been shown to save 20 to 30 percent in inventory optimization.

Along with ensuring you don’t overbuy, the tools help you keep from underbuying. One of the worst mistakes a tobacco store owner can make is running out of popular items. If a customer comes to you looking for their favorite product and finds it’s not in stock, they will take their business elsewhere. Bepoz can generate purchase orders automatically when inventory reaches a low point. This way, you never run out of popular items and your customers remain happy.

Savings Through Store Inventory Reports

Inventory reporting tools tell you exactly what items you have in stock, which ones are low and which ones need to be re-ordered. More importantly, you learn how long certain items have been sitting on your shelves. You find which items sell quickly, which sell slowly and which don’t sell at all. If you have multiple stores, inventory optimization will tell you what items sell best in your various locations. Bepoz even allows you to swap inventory if you have a product that sells great in one area and not so well in another.

Big savings means big profits. Bepoz can help with both. Contact Bepoz Tobacco Store POS Systems to get started with our great tobacco store inventory optimization tool. Call us today!

Learn More:

Tobacco Store POS Multi-Location Management

Tobacco Store POS Promotions And Discounts

Tobacco Store Employee Permissions

Video Transcript

Timestamps
0:00 Intro
0:20 Bepoz POS Capabilities
0:50 Optimize Your Inventory
1:48 Bepoz Can Make Inventory Decisions
2:09 Optional Feature Can Help Save Money
2:28 Inventory Optimization Savings
3:19 Bepoz Can Manage Inventory Needs

Hey, this is Tim with Bepoz point of sale for tobacco stores, and in this video, we’re going to talk about Bepoz’s capabilities for inventory and inventory optimization.

0:20 Bepoz POS Capabilities

Obviously, Bepoz can handle purchasing and receiving, and inventory management, your quantities on hand, and we have other videos where we talk about the fact that we can do cartons and packs and boxes and sticks and other different complex components of how you handle your inventory and transfers between locations and many other options for inventory, but in this video specifically, we’re talking about Bepoz’s capacity to be able to optimize your inventory levels. 

0:50 Optimize Your Inventory

So you have to understand that if you have, and tobacco stores have different sizes, but if you have a thousand products or 500 products or end up, it gets very difficult to really make the minute decisions that help you decide how much you should have on the shelf, and little decisions of about inventory can have far-reaching effects to your bottom line because it, let’s just say, you know, 200 cartons, or, you know, I have an extra one carton for every kind of cigarette we have in the store. Well, that’s got a lot of cost in it and that could be thousands or even tens of thousands of dollars depending on your store size, and you know with all the accessories and other particular items that you might sell, this has a lot of far-reaching consequences. 

1:48 Bepoz Can Make Inventory Decisions

So what Bepoz can do is not only make decisions about how much inventory you should buy, but make them faster than you can humanly make them, and better because Bepoz can take all of your historical data and apply it to figure out what’s the right level of inventory that you should have in your store. 

2:09 Optional Feature Can Help Save Money

Now of course, if you don’t want this feature, you don’t have to use this, but the implications financially for your business could be huge, and they usually could pay for your entire Bepoz system in less than six months, maybe even in just a month or two depending on your operation. 

2:28 Inventory Optimization Savings

But when you do this process, what we’ve seen at many stores is potentially twenty to thirty percent reduction in the amount of inventory on your shelf while at the same time increasing sales. How does that happen? Well, for instance, you might buy, now there are reasons why to buy extra products. Let’s put that out there upfront. There are sometimes when you get a bulk deal and you can buy a lot at once and you get lower prices when you buy it that way, and maybe you should. But that’s the exception for your normal products that you buy on a regular basis. Maybe I just need to buy enough to be able to get through to the time I order again next and if I’m ordering weekly or monthly, I need just enough to get through that period and maybe with some extra buffer stock. 

3:19 Bepoz Can Manage Inventory Needs

So Bepoz can make the suggestion of how much based on your history you’re going to need to make it through that period without running out, and what often happens when you have lots of products is that you’re under-ordering on some products and over-ordering on others and that’s how we can help you streamline the products that you’re over-ordering on and make sure you order enough on the products you’re under-ordering on and your sales increase while at the same time decreasing the inventory on the shelf. 

So how does this work for you at the bottom line? If you’ve got a hundred thousand dollars in inventory on your shelf, twenty to thirty thousand dollars is twenty to thirty percent of twenty to thirty thousand dollars in savings. So very quickly adds up to big savings for your operation. 

We would love to tell you and talk to you in more detail about how this works, talk to you about how Bepoz can help you. If you’d like to talk to us, you can give us a call at the number at the top of your screen or click the link below.