Five Benefits of Having a POS System to control Inventory

A POS system is a useful tool to keep our internal processes optimized.

It is also important to be clear that our money that is in stock does not move. Its correct rotation and flow will directly impact our profits.

Having a suitable POS system, which controls our stock, will give us many advantages. Here we mention some:

1. Control of entries and outputs of goods:

A POS allows us to keep track of the goods from entry to exit.

A POS system allows you to have full control in real time via the internet. Having access to our merchandise, the entries, movements, invoicing, departures and all kinds of operations that ensure correct management and optimal movement. It does also provide historical information for further analysis.

Merchandise is always in constant flow. it is essential to recognize the most rotational ones and developed the strategies to speed up that are moving slow.

Remember that merchandise is the money that we have on hold and that will generate profit only when they will sell. That is why their status must we always keeping in mind.

2. Monitor product quality:

A POS system allows you to maintain the expiration dates of goods. This is essential to avoid expiration to ensuring its proper sale. Can you imagine selling an expired product? Avoiding errors is much easier if everything is digitized.

3. Recognize thefts and losses:

You can identify missing goods with the help of an appropriate system. This is very simple with the help of POS system you can match the actual stock quantity with the store quantity, if this is not matched, then it gives us indications that something is not right.

In the case of losses, these can be registered in the system so that they are deducted from the stock and in this way keep our stock as real as possible.

Due to this reason, you will see improvement in the handling of goods by staff, because they know that there is an inventory control tool.

4. Improve customer service:

A POS system allows us to avoid stock failures, so if demand increases, it will be possible to take precautions not to be out of stock.

There is integration between purchasing, stock management, and sales. The end result will be satisfied customers, which help you to successful transactions and profit.

5. Identify seasonality:

If you know that how many fans have you in the summertime or how many coats in winter, it's allows you to plan your actions by making decisions with real information about the stock.

Making offers or liquidation of products that by closing season, is a very useful strategy to clean up our inventories.

Free up spaces in warehouses allow you to better optimize them and their correct handling will increase profitability.

According to the Institute of Statistics and Informatics, nearly 250,000 companies are created every year in the USA. However, most companies are not able to manage for long. For example, in the first half of 2018 about 47,000 formal companies closed, while more than 90% of start-ups (innovative companies) run the same as like the first year. Although the causes are diverse one of the main causes is poor inventory management.

Controlling inventory in real time gives a positive impact on other processes such as purchasing and sales. However, their mismanagement can extinguish an organization.

Are you know how much stock left of each product? If the answer is no, it is time to have a correct Free POS System that manages your inventory system.

The post first published on https://belfast.storeboard.com/blogs/technology/five-benefits-of-having-a-pos-system-to-control-inventory/962779