(Newswire.net — 13 December, 2013) Sydney, NSW — Inventory management is the process of overseeing the stock a business has on hand, usually for resale, through the use of an efficient POS solution. It is about knowing where your stock is located, how much of it you have, how much you are selling and where it is going. Retail Express provides innovative inventory management software to the retail industry, through cloud based point of sale systems. There are many ways inventory management systems can help retail businesses, including the following:
Stock Control
One of the most important considerations for any retail business is stock control. Effective and timely inventory management will ensure that you have the right stock levels at any given time. POS software is able to, not only report on what is on hand, but also predict trends and allow control of stock accordingly. In addition, a point of sale system can follow stock in real time, move stock between stores, and optimise inventory.
Enhanced Customer Experience
A Retail Express stock control system will help enhance a customer’s overall experience, create loyalty and increase repeat sales. POS systems allow real-time sales information to be pulled. This information can be used to create marketing campaigns and loyalty programs based on an individual customers’ behaviour. Retail software can also be used to create targeted marketing campaigns, meaning customers will only receive campaigns that are relevant to them and their buying trends. Furthermore, point of sale software can help by recognising things such as up-sell opportunities.
Increase Profits
Great point of sale software can increase profits in many ways. They assist by doing the obvious, and only ordering what is necessary. Inventory is money, so no business wants excess sitting around. They can help businesses create sales and marketing campaigns based on trends and past purchases. A Retail Express POS system can also allow businesses to access information and do business anywhere, anytime.
In summary, efficient inventory management has many benefits for businesses of all sizes. Effective POS solutions will reduce costs, grow sales and improve efficiencies.
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