Being an entrepreneur the last thing you do is spend some extra hours locked up in your store. The key element of any retail business is to manage your inventory. This usually serves as time intensive and can be a labour. You have to consider the time it takes you to find the required items to order and to create the purchase orders.
Investigate the hours you spent communicating back and forth with the vendors for verifying what needs to be restocked. All these tasks are a necessity, as they usually take countless hours of your hectic day. While you streamline these tedious tasks, it would save your time as well as the money.
There are 52% of retailers mentioning that inventory management capabilities is the best feature they look for while choosing a POS system and the second one is to process the transactions. The emerging technology is combined with the innovation.
By keeping this in mind, there are loads of retailers ditching their outdated cash registers for point of sale systems to save their time and automate than the optimate ways of working. The study done by RIS news stated, 30% of Retail IT executives are already investing in a mobile POS and 22% are planning to invest further.
The POS system holistically improves the retailer’s back-end and in-store experience inventory management at the forefront. The POS acts as an additional employee to your store, manages your inventory in a logical cum easy manner to save your time.
The inventory matrix enters one item and automatically fills three attributes like color, size and collar style. When you get a new catalogue of items and entering a new inventory would be taxing.
Items like T-shirts in different colors and sizes requires to input individually. All this procedure is automated to streamline, to save your time and the possibility of errors. The ordering inventory is simplified by your POS system.
You can set a reorder point and the desired inventory level for every piece of stock within your store. When you start creating a new purchase order, all products that have reached their reorder point are auto-populated into the document.
These type of forecasts predicts the volumes, allowing you to make the final modifications. There comes a must of preloaded inventory catalogues to make the items easier than ever.
If a customer looks for a product that you don’t offer, you can locate it within the catalogues and import its details to your local items. By this way you can capture the sale on spot and keep your customers happy.
To run a successful retail store, you have to manage your inventory properly. This task is time-consuming and daunting as you don’t know where to begin. The automation is a key point of sale feature for reducing the time spent on managing your inventory to an absolute minimum.