How to effectively manage inventory with your POS System

Inventory management is a major part of any business operation. Running out of stock means that your business is missing out on potential revenue. Being the centre of operation, your POS system should be capable of helping you manage your shop's inventory.

Here are ways to use your POS system to manage your inventory.

Stock Management

Your POS system should be able to keep track of stock levels for your countable items. Functions like stock in and out, stock count, and stock variance, should help you keep track of your stock, and perform analytics on which are your best selling items and adjust your stock in strategy accordingly.

Low Stock Alerts

There are situations where low stock levels are overlooked, and it is understandable as there may be other pressing matters in your business operations to look after. Hence, your POS system should be capable to remind you when an item is running low on stock, based on your preset low stock levels and optimal stock.

Having low stock alerts on will help you make the necessary arrangements to ensure that you are not missing out on potential revenue.

Stock Transfer

In an event that you are running low in stock in one of your outlets and have to transfer stock from another outlet, your POS system should be able to update stock count for both outlets to maintain accurate stock counts.

Stock transfer can also be applicable for your warehouse to outlet stock transactions, helping you keep track of your inventory levels for individual outlets and warehouse.

Recipe Management

Recipe management is applicable when you have to combine 2 or more ingredients in your inventory to create a product. Your POS system should allow you to create recipes for such products, making it easier to keep track of ingredients stock level whenever the product has been sold.

Manage Multiple Outlets Through Cloud Based Backend

The best POS systems will allow you to manage multiple outlets through a cloud based backend. Being able to do so means that you can manage your business where ever you are, as long as you have an internet enabled device with a stable internet connection.

Business owners like you are on the move constantly, and going from outlet to outlet to manage your inventory is not a sustainable practice. Hence the importance of being able to manage your outlets through a cloud based backend.

If you are looking for a POS system that is able to manage your inventory and help you manage multiple outlets on the go, you have came to the right place. Call us at (+65) 6224 5788, or drop us a free, non obligatory demo request below!