Memorizing each and every product in the shelves is quite a challenge for most store or business owners. Not only that that it takes time, employing such method puts the business on the risk of committing mistakes in its customer service and forecasting stock reserves. For bigger stores with a thousand products, it may be nearly impossible to have all the names, size, color, quantity, and other specifications of just one product in mind and this may require several minds to serve as a database for different products. Learn more about POS
Why Point Of Sales Systems Are Important For Managing A Business?
Inventory management is one important business core process that should be taken seriously and handled with care. A simple inventory mistake may lead to profit loss. Without careful tracking and monitoring of fast moving products may leave the store out of stock may,eventually, lead to the store’s loss of credibility and reliability among its customers. On the other hand, oversupply of products which barely moves may put the business to sleep.
It is plain obvious that inventory management must be done perfectly. How a business should do it is of equal importance. Gone are the days when inventories are done manually where a staff, armed with ledgers, pencil, and calculator, heads to the stockroom and manually counts the products existing. Some also maintain a file in a computer but the method of counting is still the same. This consumes time and human effort and more prone to mistakes. It, is therefore, not productive.
Thank goodness for technology as it enhanced almost every aspect of human life. If inventory management of the past is done manually, the birth of Point-of-Sale (POS) system made it more fast, accurate, and efficient. Because different business processes are integrated within a POS system, a sales transaction will have a domino effect on the inventory.
A purchase processed through the POS will automatically subtract one item from the inventory. Such process also paves the way for a better planning and control for the business. More than just a cash register, a POS can also generate an inventory-related report with a few clicks. Business owners will easily have a data on its fast and slow moving products and will be able to come up with deals or store promotion to increase its sales based on such data.
More importantly, a multitasking POS enables a business owner to allot more of his time to further improve his business operation.