Every part of your business is directly affected by your inventory management processes. They will shape your interactions with suppliers and other businesses in your supply chain. Critically, they affect your customer service – your ability to meet demand, deliver in a timely manner, and the quality of your post-sales support. Your inventory management systems also affect the efficiency of your warehouse operations, which can have a major impact on profitability and cash flow.
Inventory management software performs a major role by working as a central database and control system that, in together with your POS system, coordinates the ordering, flow, and audit of stock levels across all areas of the business. In a marketplace where one-click ordering and fast delivery are the standards, your stock control system must be:
- Able to process large volumes of data
- Capable of providing fast, accurate data to all retail outlets in real time
- Easy to learn for everyone, including your point of sale staff.
An effective inventory management system will deliver a number of benefits for your business, including:
Real-time, Fast data collection in all areas of your business, including pos, drives better decisions. Advanced reporting features will help you keep close tabs on the products customers are buying, and how they are making their purchases. Better internal business intelligence – within your inventory management, Point Of Sale system, and other retail processes – allow you to proactively (and pre-emptively) solve business issues.
Seamless integration with in-store and online point of sale systems gives your store staff instant access to stock levels along with sophisticated bar-coding features, and the ability to suggest alternative or add-on purchases. The result is that you need never miss an opportunity to make a sale.
Improved profitability and cash flow
If you have a large business with retail outlets and multiple warehouses, your choice of the stock control system is just as crucial as your POS software. You will be able to purchase the right amount of inventory to meet demand, whilst also reducing the amount of slow-moving, obsolete stock in your warehouse.
Along with your Point of sale software, your inventory management software must be able to provide big-business capabilities even to small, single-store retailers. In the past, this required heavy investment in equipment, retail software packages, and on-site maintenance. A centralized, secure data center architecture gives smaller stores advanced inventory management capabilities at a fraction of the cost of the previous point of sale solutions.
Higher customer satisfaction
Real-time inventory control system allows you to stock what your customers want, when they want it, at the best available price. When they shop online, a real-time stock level display will increase buyer confidence and help drive purchases.
Advanced customer care features must be integral to your inventory management system and point of sale solutions.These can help you create personalized marketing campaigns that bring buyers back to your store. Your staff should also be able to access the features of your POS systems and stock control system anytime, any place. An easy to use, the web-connected interface makes this possible.
Coupled with the right point of sale solution and inventory management software that is both powerful and easy to use will also result in happier, more productive staff, improving your bottom line even further. Call us today to find out more about how Retail Express POS solutions can help drive the growth and success of your retail business.