Small, start-up business who offers services and not products, can survive with just a cash register and a simple accounting system. But if your business is product-based, then you need to switch to a point of sale system or simply known as POS system to help you run, track, and grow your business with ease. With a product-based business, taking inventory can be one of the most labor-intensive and time-consuming tasks. Not to mention that is one of the most crucial task when it comes to managing the business. Having too much stock, or too little, is costly. With a point of sale system, you don’t have to worry how much inventory you have on hand. The point of sale inventory system is a step up from the use of a cash register. It will help you assess your inventory easily and thoroughly. Ecommerce Platforms
Off-hours, you can track the update of your inventory activity which includes the day, week or even a month. POS system has this ability to give you bigger picture of your inventory which allow you to track your inventory every year, allowing you to compare and contrast present orders with those from last year. This way, you can anticipate what and where you want to head in the coming months.
The following are some of the features and advantages of having a POS inventory system in your product-based business.
Back-up Data Base
The biggest advantage of having POS Inventory system is the ability to get an immediate, up-to-the-minute, accurate assessment of your inventory which is by the system’s hard drive. Each transaction with a customer, the items purchased are immediately recorded out from the inventory list, which is maintained on the system’s hard drive. Learn more about POS
User Administration and Employee Management
A POS Inventory system can be a great help to business owners who have more than one business location and adequately keep track of inventory at each without being present. You don’t have to worry about having a theft employee or inconsistent pricing between the different stores that you have. Point of sale systems take care of those problems that result when management isn’t present.
Stocks Real Time Monitoring
A POS Inventory system also has the capability to set alerts for product items running low, account for back-orders, readily add new items when they come in, and even generate purchase orders to send to vendors. Without a doubt, the biggest advantage of having a POS system is the ability to inform you when a given item is at the re-order point. When it’s time to update the stock, some POS systems tell you the updated price of each of the product items including the most recent price, as well as the average price you’ve paid in the past. This way, it can help you strike the best deal with your suppliers.