Tag Archives: Inventory Control

Five Ideas to Improve Your Business’s Stock Management

If you run a business, large or small, stock control is a logistical problem that you are likely to encounter. You need to find the most effective way for your company to manage its stock, but you might be unsure how to go about doing this. Here are five easy to follow tips that if implemented will hopefully improve your business’s inventory management.

Discount Old Stock

If you find yourself with old stock left in your warehouse or stockroom, you may be struggling to come up with ways of getting rid of it. The stock is still obviously an asset for your company, you paid good money for it so you can’t just throw it away, yet it’s taking up valuable space in your stockroom. The best idea is the simplest, discount the item in question in the hope that you can shift the units quicker. Although your profit margins on the stock will be slightly smaller, you will have freed up that space in your warehouse for new stock which might sell better.

Invest in Inventory Systems

Organisation is the key to any successful business, so in this case you might want to think about investing in some inventory control software to help your company run more smoothly. The best thing about inventory control software is that it does most of the difficult work for you. Good software will allow you to merely scan through barcodes to register your stock. It will also begin to tell you when you need to re-order certain items, as well as provide you with feedback as to how quickly different items you stock are moving.

Designate an Inventory Receiver

This is especially relevant if you run a small business. As easy as it may seem to just allow the person who is nearest to the door to sign for a new delivery, this leaves everyone confused as to what stock has been delivered and when. Designate the job of inventory receiver to one of your staff, one of their tasks will now be to always sign for and make a record of any deliveries that come in. This way, if anyone has a question about stock, they’ll know exactly who to go to and better yet, your inventory receiver will always be able to answer their questions.

Manage your Levels of Stock

You need to find a good balance between having enough stock to supply your customers comfortably, whilst not having so much that you’ll find it difficult to shift. Only keeping the bare minimum in your stockroom might be cheaper and require less space, but you become very dependent on the reliability of your suppliers. Don’t take any chances; find a happy medium so you’re sure you can serve your customers well.

Locator System

If you haven’t already, you need to devise an easy way for your staff to locate certain stock within your warehouse or stockroom. Keeping particular items of stock in a fixed location will allow your staff to find what they’re looking for quickly and efficiently. Keeping your stock organised in a logical manner also means that any new employees shouldn’t have too much trouble discovering how your warehouse works. What this also allows you to do is begin to map out your warehouse, creating brilliantly efficient stock system for your staff.

Posterita are a global point of sales software system that provides many innovative features such as inventory control.


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What Web Based POS Can Do For Your Business

Many businesses are embracing web based POS in order to modernise their businesses’ operations.

You need it

Sales businesses, particularly retailers, are reliant on POS programs to enable transactions to be processed quickly and effectively.  Modern POS programs go further than this by enabling businesses to develop reports to quickly analyse and pro-actively act on customer trends in order to maximise productivity of their business.  Really effective POS programs even allow managers to analyse individual performance of their employees.  The best modern POS solutions are web based POS programs, which enable managers to actively view up to the minute facts and figures and can drive revenues quicker through a business.

Added value

The positive impacts made by installing a web based POS to your business could potentially be limitless.  Take sales figures reporting as a simple example of the impact web based POS can have.  During a busy period of specific sales focus, such as Christmas, an area manager may require, for upper management or for himself, you to report sales figures to him at various points throughout the day.  So your boss wants to know how many pink fluffy bears have been sold every hour throughout the day one week before Christmas.  Reporting this involves you initially checking and confirming how many units you’ve sold, before leaving a busy sales floor during peak trade to send an email.  Each one of those is a completely unproductive task which is ultimately time wasted which could have been better spent on something else.

If that business employed a web based POS system, none of this would be necessary.  The area manager could simply log on to the cloud, analyse the sales report and follow up with the best and worst performing stores.  Sales reporting is now an entirely painless task and one which has benefits for businesses at all levels.

Take that and multiply those benefits across numerous aspects of your business.  Imagine the time savings and productivity improvements your business will make using web based POS for dealing with aspects other than sales.  Inventory Control, Employee Attendance and Task Management are merely the tip of the iceberg when it comes to the possibilities of web based POS.

Why not?                                                            

Testing out web based POS is simple, and you’re sure to not be disappointed.  Most suppliers offer potential users an initial trial so they can experience the fantastic benefits on offer before taking the plunge for real.  Once a web based POS is installed, businesses will wonder why they spent so long working with other products.

Posterita is a new web based pos program which lets chain stores and single stores to manage every aspect of their operations via an easy-to-use web-based platform.


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