Managing Inventory Through an Online Point of Sale Software

Retail sales and inventory are tightly connected, which is why the vast majority of modern POS systems offer inventory management features. In the retail business, the stock is the most important thing to look after, and it requires to be entirely managed. ERP pos systems are of multiple types based on features.

POS system allows you to set up a product catalog that lists items, their attributes, and their respective quantities. To make data entry in a point of sales system for a retail store, you need to enter product details manually into the system or import them using a CSV file once. One-time entry will be saved on the cloud, and you can access it whenever required.

POS systems provide advanced features to manage your retail store inventory

Single Store Inventory Management

 If you are running a single store POS system can help you to keep records of your stocks. The software can identify product placement and product types. It provides you a platform by which your inventory gets recorded and whenever there is a shortage of any product ERP pos system highlights it. Point of sale systems execute marking down prices and recording the markdowns easy. Instead of going through a pile of receipts at the end of the day, the point of sale system calculates the markdowns automatically. Promotions, discounts, and coupons can be tracked, and the impact of these promotions are recorded daily. Monitoring the impact of developments of products is almost impossible without an online point of sale software.

Multi Store Inventory Management

 If you are managing to run more than one retail stores, keeping a record of every store require equal attention and zero percent errors. ERP pos system needs to be set with centralized stock control capabilities so that you can manage products from multiple stores from one platform. In this way, you don’t have to do work on every store separately. One platform would be enough to look after all. POS solution will enable you to transfer stock from one location to the next, as well as generate reports for each store. It’s a headache to manage stores on separate systems, so if you own a multi-outlet retail business, make sure by installing a POS system by which you can do everything from a single solution.

Multi Channel Inventory Management

Now a day’s Online retail is emerging very vastly and letting retailer’s business grow efficiently worldwide. If you retail both online and in-store, then your sales and stock movements should be synced across all your channels. Working on multiple channels make you have a tighter handle on your inventory, so you know exactly what you have and where. No retailer wants to risk overselling a product online. There’s nothing worse than ordering something online from a client’s perspective, to learn that it’s unavailable in-store. Multi-channel stock control POS system also permits you to offer services like buy online, pick up in-store, so your online shoppers can prefer to swing by your shop to get their e-commerce orders.