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Is POS Inventory Management Important?

    Home Physical Inventory Device Is POS Inventory Management Important?
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    Is POS Inventory Management Important?

    By Blake Bell | Physical Inventory Device | Comments are Closed | 16 March, 2022 | 0

    A functional POS inventory management system makes it easy to keep track of the inventory in your store.  Furthermore, physical Inventory Solutions allow you to manage your inventory on an ongoing basis and allow you to know the number of products you own.  Moreover, physically counting your merchandise is critical to keeping track of your inventory.   This enables you to have a good overview of your business and keep a record of its cash flow automatically. 

    In sum, a good POS inventory solution should have an automated physical inventory management system to help you: 

    1. Count/Track Merchandise and Inventory 
    2. Obtain Secure and Real-time Data  
    3. Analyze Product Improvements   
    Counting Inv. Screenshot

    Count/Track Merchandise and Inventory

     

    Automating physical inventory with tools such as handheld scanners can expedite the physical inventory process and assist in eliminating many human errors.  Having these tools allows you to add to the physical inventory count and/or replace your current inventory count in your system, providing a higher degree of precision.  Incorporating the proper auditing of your physical inventory process is critical in order to avoid making human errors that will render your physical inventory counts useless. 

    POS Inventory System software photo showing fully customized, cashless payment process

    Obtain Secure and Real-time Data

     

    It is crucial to follow best practices and make use of the information that a good POS system provides you with from your physical inventory results.  The physical inventory results will provide you with secure data that you can use along with regularly monitoring your sales information from your POS system.  This type of data also contributes data points for sales needs, or to adjust your re-order points. Schedule time to perform a physical inventory of your store, or do a physical inventory before and after each season or fiscal quarter.   

    enterprise-ARBAPRO

    Analyze Product Improvements

     

    Analyze the results of your physical inventory.  Determine what products were off by studying the variance reports, and the root cause of why the counts were incorrect.  This will allow you to make better business decisions on the products you should be selling, and products you should put on sale or not reorder. It also gives insights into how to improve your sales by moving your products’ locations in your store.  

    Physical inventory may be overwhelming.  A functional POS inventory system with an automated and user-friendly physical inventory solution will help you create an inventory management solution that is flexible to make the appropriate modifications on an ongoing basis to make your business grow.  

    Author: Jose de la Torre

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    Blake Bell

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