How Epos System Helps To Improve Inventory Control

1. How Epos System Helps To Improve Inventory Control Inventory, whether it may be clothing, food, or electronics is the backbone of any business. Not enough of the exact product on hand and customers will spend their money at a different store. An excess of capital tied up in the wrong products and the business owner won’t have the flexibility to re-order what customers need. That is the reason why inventory is so important. As per a management education expert in Entrepreneur magazine, “organizations can increase profitability by 20% to 50% by careful inventory management.” Using an epos system to manage inventory is probably the best way to know what’s selling and what’s not. Here are six ways for better inventory control that your customers may not be using.

2. 1. Treat each customer purchase like a vote At the point when a customer makes a purchase, he’s telling the business owner that he likes what’s available and he needs that product again. It’s similar to cast vote in a popularity contest. Business owners need to pay attention to it. It’s difficult to monitor that information without an automated system. Maintaining an exact, right-size inventory that contains products customers keep buying after some time isn’t easy. That is the reason using a POS system for inventory control will disclose to you the amount of each product you should order, how regularly you should reorder and whether slow-moving sellers should be replaced on the rack. 2. Create purchase orders automatically As inventory levels stabilize, use that data to automatically make purchase orders. Or use you can also use your sales history. Both the strategies will save you a lot of headaches and allow you to make the purchase orders automatically based on what’s selling and what’s not. What’s more, with most POS systems, your purchase order can be transmitted electronically. Your ordering accuracy will improve, you’ll save time and you’ll have the merchandise your customers need in inventory. 3. Review the top 100 selling products regularly These things are your bread and butter and are easily tracked by means of EPOS software. You need to make sure you’re not

3. ordering a large number of or too few of these best-sellers. Having the perfect amount of stock gives you tight inventory control and means you don’t have too much capital tied up every month. 4. Track lost sales Lost deals occur — when customers come in ordering a product, it’s out of inventory, you offer to place a special order and they say no. That is the point at which you can enter a lost sale in the EPOS system. Review monthly reports and you’ll see the total number of sales you have missed because of the unavailability of a product. Adjust the orders accordingly. 5. Implement an Open-To-Buy plan OTB planning helps you stock the exact amount, of the right products, at the right time. It’s forecasting based on sales history and essentially shows the variation between how much stock is required and what amount is available. Many EPOS systems incorporate OTB planning as an additional feature. 6. Track special orders at the POS Businesses that especially order items for customers need a routine tracking strategy. EPOS software will allow you to know what to order and remind you which customer placed the order, so you’ll make sure to notify them when it comes in. Use this feature to increase your sales and give customers what they need. Incorporating a few of these inventory control ways will make sure you have the products your customers need at the right time.