Guide to point of sale software

If your growing retail business still manages inventory with word processor or spreadsheet programs, it's time to consider point of sale software. Point of sale (POS) software serves as an electronic cash register for your apparel retail business and tracks inventory and transactions. The latest POS software packages also include tools for automatic re-ordering when your shoe or clothing inventory runs low, forecasting tools for trending footwear and apparel sales, and even full-featured reports for general ledger and customer relationship management (CRM).

There are numerous inventory POS system or inventory management software packages available for your apparel or shoe retail business. Researching the available options and a few minimum requirements before you buy can optimize the ways POS software impacts the efficiency .

POS history
Point of sale software was once a hefty array of software and hardware components stored in a back office that cost retail chains thousands of dollars in software and hardware implementation and maintenance. High-end POS software even featured hand-held scanners for reading the SKU (stock keeping unit) tags on clothing. At closing time, retail chains could print reports of apparel sales and remaining inventory. However, these same businesses still had to use separate software packages for tracking their inventory on items like shoes or clothes, calculating payroll, managing purchasing budgets and printing yearly tax statements.

The latest POS packages are available as a SaaS (software as a service). SaaS point of sale software simply requires a PC or hand held device that has access to the Internet. For retail chains, this means you no longer need a costly robust computer server handling transactions because the POS is Web-based software and streamlined from a hosted data center. As a SaaS solution, your point of sale software is constantly backed-up and updated with new software builds and e-commerce tools on demand.

POS features
The new generation of point of sale software features comprehensive packages that integrate every requirement of a retail apparel business, plus innovative tools for diverse environments. If your retail business specializes in seasonal sports footwear and clothing, POS software can automate sales and track sizes, colors and styles for placing additional orders.
For example, point of sale software can lower prices on soccer footwear as season wrestling shoes appear in brick-and-mortar stores or online retail storefronts in late September. These features automate your inventory and provide an inclusive sales inventory snapshot. The hosted data supplies reports might reveal, for instance, that soccer clothing in black and red outsold yellow jerseys, and high-top green wrestling shoes were popular for online sales in Wisconsin, but blue footwear selections were the top choice among Texas customers.
Clothing retailers may find features such as inventory query management helpful when items are returned to the store without tags.
Without an SKU to scan, versatile POS packages offer query options for entering a keyword or a category for locating the item.Before selecting a point of sale software package, determine your minimum requirements. Then you can decide which automated software can turn your business into a thriving Internet super store.

The Advantages Of Finding The Correct Software Inventory System

Technology nowadays has become the root that supports many businesses. This means that more people are looking for technology that is the most efficient and reliable as well as specific to their business. With this in mind, people have come up with many applications as well as inventory management software or inventory pos system cater for these enterprises.

When considering buying this application, for many small business operators, it may appear far fetched, although they should not give up for they can decide to get a small management application system or save up to get the higher-end software. This will allow them to manage their inventories at an achievable cost.

Before an individual decides to get this program, they should consider the financial position of their company at the moment. With this in mind, they can choose to get a low-end program that fits their budget. Since the business is still growing, they can get an advanced one, according to their financial position during the growth of the company.

There are a few things to consider before one buys this program. To begin with, one should consider the benefits of the software. Some find it to be very efficient and resourceful. It also allows for precision thereby, making the operation of an enterprise easy and manageable. People are able to keep track of their products and know for sure the quantity of the products. Knowing this, an individual is capable of planning ahead and is aware of when to bring in more stock so as not to loose customers because they are under stocked.

People should evaluate the applicability of the program in question and decide whether it is relevant. An important factor to note is that this system is very vital in the retail sector. With some products selling highly than others, this program helps to monitor the product so as to maximize on such goods. It also encourages multi-tasking, as one can perform various operations at the same time, like printing out of an invoice while recording expenses.

With this system people, can carry out different business operations within a short period hence, saving time therefore, maximizing on the returns of their investments. One should find the appropriate software specific for their company's demand. This means one that can be able to perform the functions and provide the solutions needed in ones company, in other words one that is compatible to ones business.

This technology enables one to carry out other business operations saving time and maximizing on the profits. To accomplish all these, people need to get the right program that suits their company. This is in terms of carrying out the functions set aside for it as well as solutions, as intended in providing the best results.

Reliability and efficiency is a very important aspect when it comes to choosing the right program for ones business. Durability should also be considered, one should go for an advanced model for the best results. To make this decision, an individual will need the IT department to guide them in getting the best suited software inventory for the best results.

The basics of inventory tracking

If you’re a small retailer or wholesaler, your inventory is the heart of your business. Not only is it probably the largest single investment you’ll carry as a business owner, but correct management of inventory (inventory management sofware or inventory pos system) can be the difference between a business that hums along efficiently and one that sputters out prematurely. Many businesses with good business plans and good products have failed because poor inventory management has choked out both cash flow and profits.

The purpose of inventory tracking is to ensure that while some of your capital must be tied up in inventory, it does not hinder your company’s cash flow or waste employee’s time. Your business will run best if you have an accurate count of that inventory, procedures for changing it, and an organization scheme that allows fast and efficient access to it. Conquer those challenges, and the business of tracking your inventory will be no problem at all.So how can you ensure that your inventory is managed in a way that helps your cash flow rather than hinders it? Here are a few tips that can help:

I. Set aside sufficient space for your inventory. A sizable and well-lighted area will allow you to organize and manage your inventory in the way that fits your company best. Sufficient space between rows to allow movement without bumping items will reduce breakage and unintentional damage to inventory.
Sufficient space is probably the single most important factor of efficient inventory management, because a lack of space forces your company to take shortcuts and undermines the procedures you set in place to keep track of what you have in stock. A lack of space can be the largest factor in inventory disarray, and an inventory in disarray is an inventory that is poorly managed.

II. Organize your inventory in a manner that fits the type of business you run. How you buy and sell products should be a determining factor in how your inventory is organized. Do you have 10,000 paperback books in a warehouse? Or is it 3000 types of auto parts on shelves for browsing customers? Do some items move quickly? Are there some items worth carrying but which seldom leave the shelves? Do you care about individual items or do you buy and sell in volume? All of these factors can have an impact on how quickly and efficiently you can get your inventory into the hands of your customers.

III. Develop a database of your inventory, including re-order targets. If you have only a few items, a notebook may be sufficient to list every item by type, brand, color, and quantity. If you have thousands, you’ll need to develop or purchase a computerized database (even if it’s only an Excel spreadsheet). But large or small, your inventory needs to be reflected as accurately as possible on paper or on the computer, so you can avoid leaving the phone to rummage the warehouse every time a customer inquires about an item and to allow you to quickly and efficiently gauge how much of your money is tied up in inventory, what inventory is turning
over, and what is simply collecting dust on your shelves.
Every item in your database should have a target level at which a re-order should be made, along with a measurement of the time it sat in inventory. At reorder time, check to see that you sold the items in the time you expected or if you’re selling them faster than you expected. Writing down your expectations up front can help you identify trends that will tell you whether to double your re-order quantity or discontinue carrying an item altogether.
Keep in mind that the quantities you order can affect the cost per item, lowering your costs and increasing your profits. Take advantage of quantity discounts where your inventory allows. By tracking your turnover and comparing trends, you’ll be prepared to get the most for your money without tying up most of your money in inventory that does not move.

IV. Develop procedures for “check-in” and “check-out”. Every item that enters or leaves your inventory needs to be recorded somehow, either directly into the database or onto a receipt that is compared against the database. Inventory tracking means knowing how much of what you have available, and that can only be accomplished by having procedures for adding and subtracting items from inventory.Keep in mind that for procedures to be followed, they must be simple, consistent, and accurate.
Having simple, effective inventory-control procedures in place will ensure that everything in your warehouse is ready to be moved to your shelves and everything on your shelves is ready to be replaced from your warehouse.

V. Strive for accuracy and manually double-check at least annually. No matter the procedures you have put in place to ensure the accuracy of your inventory, mistakes and errors will creep in. Whether it’s through items not being properly recorded or through pilfering employees, the more items that move through your database, the larger the gap between what it reflected in your electronic database and what sits in your physical warehouse will grow.That means that monthly, quarterly, or annually, a physical inventory should be taken of everything in the warehouse and compared to the inventory database. It doesn’t mean shutting down your business while everyone goes through the warehouse and counts, but it does mean that an occasional physical survey must be taken (maybe during slow periods) to ensure that everything in your inventory is accounted for. Such checks will also help you identify items that are susceptible to pilferage, breakage, or simply being put back in the wrong place. Once patterns are recognized, adjustments can be made to avoid similar problems in the future, like keeping small, high-value items under lock and key or keeping glass items well back from busy aisles.
The challenges of inventory tracking can be managed with planning, organization, and consistency; and your cash flow will improve if your largest cost is handled efficiently. That means not only will your bottom line benefit, but your customers will as well.

Using Inventory Software to Save Your Retail Business

In tough retail conditions retail business owners and managers need to make tough decisions. Decisions which get the retail store back on track and profitable.Good inventory control software can help you make these decisions. It can provide a fact basis for any inventory related decision.By tracking inventory which comes into and goes out of the retail business, through a variety of means, the business builds, through the inventory software, the data necessary for good quality decisions.It all starts with good inventory software. This is software which:

• Tracks every sale.
• Processes electronic invoices from suppliers and allows you to manually enter invoices.
• Tracks movement of inventory from a warehouse to retail.
• Tracks theft of stock.
• Provides you with excellent reports for understanding the performance of your inventory from a range of views.

If your retail business is experiencing difficult trading, it is probably time for you to more fully embrace your inventory software to turn the situation around.Assuming you use your inventory pos system or  inventory management software properly, here are steps you can take to improve the performance of your business.

Cut dead stock. Print a report of stock which has not sold in the last six months. Review this list and make quick tough decisions about quitting stock which is not performing for the business.
Some retailers are prepared to carry underperforming stock for a long time because they want to be known for their range. This has a cost. If your margin is slim then cutting dead stock is a most urgent business activity.

Move stock around. Print a report showing hat stock items are selling with other stock items. Learn from these shopping basket pairings and consider moving stock on your shop floor as a result.
Get smarter with your stock and use reports in your software to guide tactical moves which are chasing more sales.

Focus on suppliers. Compare the performance of suppliers using reports in your software. If there are suppliers significantly outperforming others, focus more on them. But be sure to let underperforming suppliers know that they have problems.

Too often, retail suppliers control their client businesses. You can take control by relying on your reports which are based on your real sales. Suppliers base their information on what they sell you.

Cut theft. One business problem could be theft of stock by customers. Using theft management tools in your inventory control software you are better equipped to understand what is being stolen and when. Use this information to reduce theft. A cohesive and fact based theft management strategy could improve your bottom line by between 2% and 5% depending on the nature of your business.

The inventory on your shop floor is a good place to start to turn a struggling retail business around. Achieve this by using good inventory management software. Feed it good data and rely on accurate reports to help guide better business decisions.It takes discipline and a preparedness to trust the data more than your own feelings. Confidence will grow with time. Good decisions will be reflected in better business data.
Inventory management software can change a retail business from a basket case to a terrific success story.

How to deal with inventory management software

"Inventory" to many business owners is one of the more visible and tangible aspects of doing business. Raw materials, goods in process, and finished goods, all represent various forms of inventory encountered in a manufacturing organization. Each type represents money tied up until the inventory leaves the factory as a purchased product. Likewise, merchandise stocks in a retail store contribute to profits only when their sale puts money into the cash register.In a literal sense, inventory refers to stock of anything necessary to do business. These stocks represent a large portion of the business investment and must be well managed in order to maximize profits. In fact, many small businesses cannot absorb the types of losses arising from poor inventory management. Unless inventories are controlled they are unreliable, inefficient, and costly. In attempting to control inventories, managers usually lean towards keeping inventory levels on the high side, yet this greater investment (given a constant amount of profit), yields a lower return on the dollar invested. This is one of the contradictory demands made upon the manager with respect to keeping inventory, others include:

• Maintain a good assortment of products - but not too many;
• Increase inventory turnover - but only at a good profit level;
• Keep stocks low - but not too low;
• Make volume purchases to obtain lower prices - but don't overbuy; and
• Get rid of obsolete items - but not before their replacements have taken hold in the market.

Successful inventory management software  or inventory pos system involves simultaneously attempting to balance the costs of inventory with the benefits of inventory. Many business owners often fail to appreciate fully the true costs of carrying inventory - which include not only direct costs of storage, insurance, taxes, etc., but is also the cost of money tied up in inventory. And it is often not realized that small reductions in inventory investment may result in large percentage changes in the company's total cash position. For example, one reward of improved inventory management may be an increase in working capital without the necessity of having to borrow money.

Web Based Retail Pos Systems Can Work

Retail POS is short for point of sale and this generally refers to the location where the sale is made and payment is made. The checkout stand is a point of sale. The original sales checkout mechanisms were as crude as a pencil and paper and perhaps a ledger for any credit extended by the merchant.

The initial computerized inventory POS system were bulky and inordinately expensive. The checkout and reporting software was written specifically for a specific manufacturer's machines and only retail giants could afford the software and the hardware. In order to add another checkout point in the store new hardware had to be purchased from the manufacturer of the original equipment.

Today interoperability is possible among many of point of sale systems. However, the cost of even the standard hardware and the software to connect these is beyond the reach of many retailers. A custom system is certainly not usually affordable for smaller retailers.

Remotely hosted point of sale software makes point of sale software more affordable and simpler for the smaller businesses. It requires only a browser to access, can be connected to a cash drawer and a credit card machine and even a printer. Software as a service will usually have a flat fee connected to its use, this makes costs more predictable.

There are still a bewildering number of choices for the retailer considering point of sale software that is web based. Some can interact with a wider range of browser types such as Safari, Opera, and IE, while others are somewhat more limited. The retailer researches the viability and expense of remotely hosted inventory, cash management and sales software should have a check list of necessary features in order to narrow down the choices.

Cost is a large factor in the choice of any checkout and reporting software.   A fixed cost is preferable for most businesses as it can be budgeted in the same way that the mortgage or payroll is budgeted. Inventory control reports are also considered high priority features by many retailers considering these systems.

The remotely hosted merchant systems require a browser and an active internet connection in order to use. The reliability of the internet connection in the area should be considered, although in this day and age it most connections are stable. It is important however that the merchant keep in mind the type of browser they plan to use and ensure it is compatible with the system.The ability to process credit cards and debit cards is a must have for many stores or merchants. Some internet based POS systems have a specific credit card gateway provider with whom they work and the merchant could be limited there. Other systems may allow for more flexibility in processors and simply perform a recording and reporting function.

Web based retail POS systems may not be the perfect solution for all businesses. Remotely hosted software solutions are normally aimed a small to medium sized businesses who have more limited budgets and fewer transactions than the giants in the field. However this type of system can eliminate the need to invest in expensive hardware and be unable to change providers due to the proprietary nature of the hardware and software.

POS Inventory Software Systems

Traditionally, book type cash registers have become the modus operandi for retail businesses. While some of these businesses have replaced this traditional system with a computer and printer, it is still necessary to input the data into a computer each day.

POS inventory software systems are a time and cost efficient method of monitoring the current inventory with a minimal investment on behalf of the business’s proprietor. Because the software automatically captures the information provided with each sale, it keeps track of a store’s current inventory in real time. Since this information is conveniently condensed onto one computer screen, it allows a business owner to make informed decisions about the stock that they buy for resale, according to an item’s popularity with consumers.

It is a common misconception that operating POS software is a difficult venture. However, the process in which a sale is registered onto inventory pos system is rather similar to that of conducting a traditional inventory register. The bar code of a product provides the necessary information concerning an item’s price, batch number, and the characteristics of the product. After the product has been sold, the information about the product is registered into the POS inventory software, which automatically updates the stock inventory. The use of this type of software eliminates the need for an individual to manually maintain the
inventory.

Overall, this type of software streamlines the process of placing and accepting orders. If consumers are not moving a particular product off of the shelves, the system can notify the business owner. Additionally, it can automatically create purchase orders based upon the sales history of a particular item. This element becomes particularly important when it comes to seasonal items.

Most importantly, inventory management software systems save labor intensive time. In any industry, time is money. This type of system allows a business to increase their profits substantially, and most businesses can begin to see an increase in their profits within a short time of investing in this particular software. Managing inventory is one of the more tedious aspects of owning a business; however, with a simple investment, a business owner can eliminate the need for manual labor.

POS System With Inventory Control Capacity Takes Your Business To New Heights

A POS system is by any means one of the many factors that affect the success or failure of one's business. Just a single entity in a business establishment, a point of sale system is a bundle of hardware and software that can do great potentials. It can yield either positive or negative results. A poor kind of this system brings consequences. While on the other hand, the best kind can bring great rewards.

Just as we all understand, a point of sale is composed of a lot of things such as computer, touch screen monitor, printers, scanners, and a lot more. But there is something beyond the physical components of the whole system; it is the point of sale POS application that runs the whole thing. Even so, having the application to run the system is no longer sufficient nowadays.

Due to the increasing demands for reliability and quick delivery of goods and services, business requirements have also increased remarkably. Now every business establishment needs something higher and faster application for inventory control. And when we say inventory, we all know that it is such a tough job; at least for those who do not know the latest in business computing.

Fortunately, there is a particular provider that you can rely on when it comes to the upgraded POS system you need. The PBSA point of sale management system is a reliable firm that delivers exactly and even more than what they promise to their clients. They are a provider of the most high tech bundles of point of sale system. And their system solutions are equipped with highly intelligent software that can boost the whole system's performance as well as the worker.

Now an inventory POS system has evolved into a highly sophisticated business tool with more built-in capacities including inventory control. This feature allows the company to keep track of all the important data such as management of stock. This is a crucial area in selling because it holds records of every transaction up to the tiniest detail of items sold, lost, returned, re-stocked, re-priced, and many more.

Using the Right POS System

The point of sale system or the POS system is a type of technology that proves its worth to the business world. They provide the chance to make the business transactions easier and more convenient based on the fact that it is now computerized, making the transactions, inventories and audits more accurate. It is also a good way to protect your business from probable cases of employee theft or consumer theft.

POS system varies on its intended function. There are different kinds of this software, just like a cash register POS system. In this type, its function is just like that of a cash register, but its features are enhanced in a sense that it is capable of storing more intricate and detailed data, such as the time and date of purchase. It is also capable to keeping inventory of your products unlike that of an ordinary cash register which could only keep track of everyday sales.

POS may be a inventory pos system or inventory management software which include Analyzes inventory levels, allocates stock plan purchases and allocates deliveries accordingly,Provides powerful search facility using item code,Stock transfer,Inventory profitability analysis,Audit Trail for Inventory Adjustments,Purchase Order Entry,Requisition Processing, Purchase Order Receipts, Purchase Query, Purchase,Order History, Purchase Order List, Purchase Order Receipts,Serialized Inventory, Audit Trail for Inventory Adjustments and lots of features.

POS may also be a Restaurant POS, in which the restaurant managers could efficiently use when consumers place orders. In this case, the restaurant personnel could use the POS system to immediately transmit the order to the kitchen and at the same time, keeping the consumer’s tabs until the time for bill.

POS may either be a typical one, which is a monitor, a processor, a receipt printer and sometimes a bar code reader. Lately, especially on restaurants and fast food chains, POS are usually equipped with touch screen monitors, allowing the business entrepreneurs to save space and electricity. It also provides an easier way of manipulating the system, presenting itself in a user friendly manner.

POS allows the entrepreneurs to at least experience comfort from the everyday trouble of auditing and keeping watch of the everyday flow of cash on your business. Adapting digitalization in your business will provide you the opportunity to feel at least a little more convenience, allowing you to save time and energy especially when you do your inventory for your products. Lastly, with the efficient managing it offers, it opens the opportunity for you to broaden your specks and consider expanding your business in a much higher level.

The POS Software for Any Kind of Business

For any kind of company or business, there is the POS software to always help out. The inventory management software is a type or computer based system designed in managing and increasing the sale of retail products. The term used for the system is the associated to the term Point of Sale wherein a product or commodity is sold such as the cash register or a checkout counter. Since the Point of Sale system is imbedded on the cash register, selling products would a breeze. The inventory pos system consists of the following items in order for it to work. One is the hardware which would be used for the system, the Palm Pad or the reader which would be given the employees so that they would be able to take orders from customers. The Pad which would be used by the employee is connected to the cashier's machine so that the cashier would be able to print the receipt as the customer heads for the counter.

Most companies which offer the POS software have designed various types of the machine according to the type of business.

There is a specific machine for clothing shops, sports shops, restaurants, hotels and groceries.  In terms of groceries, the Point of Sale system would need the serial codes which are embedded on each product. The Serial codes would then be passed through an optical scanner which is an infrared device connected to the retailers machine. There are actually two types of sensors involved, one is the gun type wherein the cashier would have a sensor gun which would be used for scanning the serial codes and the other type is the optical lens which is inside the table used by the cashier. The product would be passed to the lens under the table and

the product would be registered on the system.

Aside from the hardware, there is the software used in the POS software.

 The Software application needs to be synchronized with the amount for each product as well as the palm pad used by the employees so that each product would have the specific price. The software used can also be connected to a computer which would record all the sales daily.

Impotance of inventory pos sytem

Inventory management software is used for the streamlining and automating of the different inventory processes in an organization. It is also extremely helpful in managing the organization's fixed assets in a more efficient manner. As businesses continue to grow at a rapid pace, it has become essential to have an inventory pos system in place in order to ensure the smooth running of an organization.

Inventory management software basically lets the company keep a track of the changes in inventory. With the help of accurate records, it becomes easier for the management to make informed decisions regarding the maintenance and purchase of assets that are crucial in the company’s daily operations.

Benefits of inventory management software:
The software is capable of offering an easy and customizable solution for digital or fixed asset tracking processes. It is primarily used to catalog and prepare reports on a company’s physical inventory, which includes chairs, desks, and all other equipment. The software not only helps in identifying trends in the use of inventory and its necessary replacement, it is also effective in reducing thecompany’s expenses in the purchase of redundant machinery.

Inventory management software uses bar code technologies. The tracking process of transferable assets is done via the check in/check out system. With the help of this software, you have at your fingertips all kinds of asset cost information like location, property type, class, supplier, acquisition date, and expense account numbers.

Any standard web server will be able to support the functioning of this software. In addition, irrespective of the operating system being used on a particular computer, it is possible to access the inventory asset management software easily via the Internet.

Inventory management software is easily available in the market. If you are thinking of implementing such a system, you can either purchase it, create it from scratch, or modify it from an existing template. It may often be seen that it is best to modify an organization’s existing application in a way that it includes integrated asset and inventory management. If however, you do not have a ready made application to work on, you might consider modifying an existing template, or using a sample application from the existing software. This might go a long way in saving both time and money.

7 TIPS FOR IMPROVING INVENTORY CONTROL WITH POINT OF SALES SOFTWARE

Inventory control is vital for any business, particularly in retail and wholesale industries. Knowing when to reorder so you can meet ongoing customer demand was once left to guess work on the part of the owner. But these days, thankfully,inventory pos system can give you all the information you need to make the best judgment call.Not only that, but by maintaining a strict control over this process you can automate your entire inventory control strategy to ensure that your cash flow is maximised to your benefit, rather than your detriment

.Here are seven tips you can neutralise to improve your inventory control with the help of point of sale software.
Analyse Your Sales. When you know what your customers are ordering on a regular basis you have a clear indication of what items to stock. Use these numbers to set your reordering levels and check the trends every day.
Automatic Purchases. Use software to automatically produce purchase orders when stock level alerts are generated. This way the purchase orders can be sent or transmitted to your suppliers immediately.
Special Orders. Your point-of-sale software can be used to track special orders that fall outside your automatic system. Set up a reminder to check the status of special orders every day.
Track Lost Sales. Make sure that you record each time a customer declines to proceed with the sale because you don’t have sufficient stock. This will alert you to the need to adjust your reorder levels.
Track Your Top Sellers. Your bestselling items are your bread and butter, so you want to make sure of two things. First, that you have sufficient stock. But, secondly and perhaps more importantly, you do not have too much stock. By holding too much inventory in one particular item you are locking up your cash, so make sure that you reorder only as regularly as you need to by maintaining minimum stock.
Check Stock Receipts. Make sure your warehouse staff check each receipt against the purchase order. Businesses that automatically assume that the correct product has been shipped to them are making a big mistake. Before entering a stock receipt into the system, if you sure that it is completely accurate and in accordance with your purchase order.
Make Seasonal Adjustments. Many stock items will have sales trends that follow seasonal patterns. Nobody wants to stock overcoats during summer! Your POS software can be used to highlight spending patterns on items during different seasons or times of the year, so you can easily stay on top of your stock levels and order in advance of your anticipated seasonal needs.

10 Secrets of Successfully Computerizing Your Business.

Be an educated buyer  There are so many ways to learn about computers and inventory pos system.  You can go to a library, browse the Internet, visit a local computer store or even another business that has a inventory POS system.
Know what you want from your point of sale software before you buy anything.   Make a list of functions you would like the point of sale system to handle.   Prioritize the list.
Buy only time-tested products.   Make sure that the inventory management software has been used in many businesses similar to yours and get references. Call the references.
Don't underspend.   Search for value, not price.   The price is important, but a good system is going to pay for itself many times over anyway.
Find a consultant that you trust and have confidence in.  Having a Value Added Reseller (VAR) or advisor to assist you with the implementation of a POS system will be well worth the investment.    The VAR should be familiar with the system and will be able to get you up and running quickly.
Don't try to automate your whole business in just one day, or even one month.  Take your time to get all the staff trained, and allow time to work out the kinks.  It can take a year or more to fully utilize the software.
Start fresh from the day you install the system.   Don't try to enter past history into the computer.  And generally, we don't recommend trying to put in accurate inventory counts on the very first day.  If your VAR recommends it, after analyzing your particular company, then we would defer to his expertise.
Back up your data daily.  Test the backup occasionally.   Keep a back up copy off site.
Buy a support contract from the POS vendor/VAR.  Keep current with upgrades.
Install a battery backup and dedicated electric line for your computer.  Power surges, summer outages due to heavy a/c use and other similar events occur regularly.  Clean, filtered electricity is as important a component of a successful point of sale system as anything else.

Inventory pos system

A Point of Sale (POS) system or inventory pos system is a system for managing the sales of retail goods. The term is used to refer to the software and hardware associated with check out stands, and all of the bundled features which are included. Most retailers use a POS system at their checkstands or counters, and several major manufacturers offer POS systems designed for various types of businesses, ranging from grocery stores to clothing boutiques. Using a POS system makes a business much more efficient, lowering the costs of running the business while improving customer service and making the business more pleasant to work in.

In the retail trade, the “point of sale” is the moment when a customer walks up to a counter with goods and prepares to purchase them. A POS system handles the transaction, whether it takes the form of an adding machine and a hand written receipt pad, or a complex computer system. Except in the case of very small businesses, a current POS system usually takes the form of a computer system.

The most basic POS computer system is an electronic cash register. The clerk can ring up goods in the cash register and produce a receipt for the customer. At the end of the day, various cash register functions can be used to print out daily reports which are used to reconcile the cash register and to prepare a deposit. More complex cash registers are capable of extremely detailed reports, and they have memory functions which allow users to look up reports from the past, or generate monthly and yearly reports.

A more complex POS system, however, includes numerous bundled features. Many POS systems have inventory management software capabilities, where each piece of merchandise is entered into the system so that it can be tracked. Some systems also allow store buyers to generate purchase orders from within the system, using data about sales and product popularity. Time clocks and other accounting features such as credit card verification may be integrated into a POS system as well. Human resources may keep personnel records within the system, in a separate password protected area.

Inventory Management Software for business

Why to have Inventory Management Software  for business?

Inventory Management Software systems have become inevitable in almost all of the business today. Inventory Management Software is a constitutional part of keeping the business moving fluently, whether it is an intense production unit or some service-oriented industry. The usage of software tools specifically designed for inventory control and management run deep into a company’s long way in keeping a company’s wheels running smoothly.
Inventory Management Software helps in inventory tracking and controlling the levels of stock, both real-time as well as batch stocks. The software usually has interfaces that can determine when stock needs to be reordered or needs to be scaled down because of less demand, which gives user the complete control over the inventory life cycle. This helps to keep the inventory always stocked up so that the user would never ever lose an order because of insufficient stock. The software can also spot potentially unwanted and old dying stock. It can track sales by drawing out intelligent trends and fact sheets over a period of time and report on orders that are expected to follow.


Inventory Management Software  solution in Qatar offers the most of the features, which is affordable to any small to medium business organizations.

Inventory Management Software for Effective Warehouse Goods Management

Many types of Inventory Management Software are available for different

business purposes. Choosing the right kind of software is rather a

difficult task. Software that can complete the inventory management

process without any much hassles goes a long way in solving

problems. For any business managing inventory is very essential from

the point of view of growth and development. In simpler words

inventories refer to stock of raw materials, finished or semi-finished

goods in the warehouse of a company that is utilized for business

dealing whenever needed.

When the amount of inventories is huge, it becomes next to impossible

to keep record of the number of inventories manually by counting them.

It proves to be taxing for time and resources both. Therefore large

number of companies are using inventory management software for the

respective purpose. The result is effective control and management of

inventories saving on time and hard work factor. The software can keep

track of many details like- quantity of goods stored, purchasing date of

goods, record maintenance of sales, gives apt product description, etc.

Such type of services makes the process of inventory management

smoother.

An ideal inventory management software consists of added

characteristics like- offering of extended financial profits to its users,

bringing down the overall warehouse cost, management of back-orders

and speedy goods selling information.

Inventory management software is not confined to large scale

businesses, but from small scale to medium sized businesses that

have inventories to manage may use it to profit maximization. It avoids

stocking of surplus goods also shortage of goods when needed.

Equilibrium between demand and supply of goods is maintained by the

help of this software. Also the buyer can take wise decisions regarding

the buying of the goods. This is possible as this software helps you

know better which goods are more in demand, which ones are in

shortage, which products have slower sales, etc. By such valuable

information you can maintain proper stock in the warehouse so that

there is no rejection to customer orders. Thus yielding to better

customer satisfaction.

Businesses whether wholesalers or retailers very well understand the

importance of proper inventory management thus software related to it

also considered as essential online tool. Numerous software service

providers are found online, select the one which suits most to your

business needs and goals.

Inventory Management Software And Best Practices

These Inventory Management Software best practices, from WorkingPoint will help you use your new digital tools to truly improve how you effectively run your business!

Inventory Management Best Practices::--

1) Take a Periodic Physical Inventory and Make Adjustments

The sad reality of running a business is that no matter how diligent you are at some point your actual inventory quantities can get out of sync with the quantities stored in your inventory management system. Some of the most common culprits are spoilage, breakage, theft, or data entry errors. The best practice is to schedule regular physical inventories of your products so that you have a failsafe built into your inventory management system. After the physical count, make sure to update your system or software so the quantities stored there match your actual quantities. How often should you schedule checks? The size of your business should determine how often you check. How closely will overages and shortages effect your bottom line? Choose a monthly schedule, others quarterly or even yearly schedule based on your individual business needs and resources.

2) Write-off Breakage or Spoilage as it Happens

If you experience:

frequent breakage or damage of your products
your product has a short life span
spoilage
If your business experiences these inventory changes, it’s incredibly important to develop a system to easily keep track of these trends. WorkingPoint suggests you keep a clipboard in an easily-accessible location so you can write down important information about your unsellable goods. Develop a simple form with the product name, how many units you lost, why you can’t sell them and the date you pitched them so you can quickly fill in the data.

Before you take your scheduled physical inventory or close your books for a period, make sure to adjust the quantities in your inventory management software to get the unsellable products off your books. This will keep your inventory quantities current, your inventory valuation accurate, and reduce your tax liability.

3) Review Your Available Quantities Before Placing Orders

WorkingPoint Inventory Management Software lets you filter the items list to include only inventory items, so you can easily create a Stock Status Report. If your inventory management software can’t do this for you, make sure you create a list of all the products you keep in stock along with their current available quantities and review the list online or print it out to see what you need to reorder before you place an order.

Inventory Management - Brief overview

Inventory is the bread and butter of a wholesale businessman. Inventory Management Software is therefore inevitable for all wholesale entrepreneurs to succeed. There are many things that need to be considered by a wholesaler or supplier who is about to start a new business as a wholesaler. Wholesalers buy in bulk and sell in bulk. Poor inventory management can put them to a road of forever losses. Anyone starting a business as a wholesaler should therefore know the importance of inventory management for long term success.

A wholesaler will always need a warehouse. Warehouse is the best friend or the worst enemy of a wholesale supplier or distributor. Choosing the right kind of warehouse is like winning half the battle. The two key ingredients in selection of a warehouse are its location and space. More the space, costlier it will become to get one. Better location will raise the rent or the price (if you intend to buy). Location’s preference will be on the type of transport used to carry the inventory into and out of the warehouse. There are many warehouses in the UK where large Lorries are forbidden to travel. Many UK wholesalers are either shifting to smaller modes of transport or going out of the city. Poor location selection significantly increases the risk of failure as a wholesale distributor. The wholesale business entrepreneur should appropriately estimate the inventory’s particular quantity staying at the warehouse at a given time. This saves him additional cost and he can have reasonable sized warehouse at the best suited location.

Use of software is a must for a new start up wholesale business. Often new entrepreneurs who aren’t tech-comfortable think technology as a waste of money. A lot of new inventory management software is available in the market. You can purchase any good inventory management software and easily manage your entire inventory with maximum efficiency and minimum losses.

Supply chain management is an important part of effective inventory management system. Buying inventory decision should be based on the demand and supply forces. There are many entrepreneurs who aren’t able to minimize their warehouse and transportation. It can be a crucial step in determining the success of a wholesale business. The key here is the proactive approach adopted by the entrepreneur. He should strike a fine balance between just the right kind of inventory and the demand. Good relations with the manufacturers can also help maintain the balance of inventory and wholesale supplier can easily get on demand inventory whenever there are any variations in the level of inventory demanded by his business.

A pre-planned warehouse and inventory management system for a start up wholesale business is the best way to go. This will save the entrepreneur from a lot of problems and minimize the chances of failing a new wholesale business start up.

Disadvantages Of Inventory Management Software

The main disadvantages of Inventory Management Software are its cost and complexity.

Expense

Cost can be a major disadvantage of inventory management software. 

Many large companies, such as small businesses can find it difficult to afford 

it. Barcode readers and other hardware can compound this problem by 

adding even more cost to companies. The advantage of allowing 

multiple employees to perform inventory-management tasks is 

tempered by the cost of additional barcode readers.

Complexity

Inventory management software is not necessarily simple or easy to 

learn. A company’s management team must dedicate a certain amount 

of time to learning a new system, including its software and hardware, in 

order to put it to use. Most inventory management software includes 

training manuals and other information available to users. Despite its 

apparent complexity, inventory management software offers a degree of 

stability to companies. For example, if an IT employee in charge of the 

system leaves the company, a replacement can be comparatively 

inexpensive to train compared to if the company used multiple programs 

to store inventory data.

The cost of maintaining the inventory management software   is based on the number of items managed, how many transactions are performed, and whether the inventory control system is tied to a resource planning system. The ICS is a module within many Enterprise Resource Planning software applications.

Inventory Diversity Drives Up Costs

Businesses with 100,000 products require about ten times as many database entries as a business with only 10,000 products. This fact alone drives up the set up cost of an inventory management software . Furthermore, more types of items in inventory results in greater costs to maintain the inventory management software . This disadvantage of an inventory management software  may be mitigated by bulk loading of part data into the inventory management software  database. However, the information on those parts must still be reviewed, verified and kept up to date.

Inventory Management Techniques & Tips

In business, inventory management techniques is a list of products and materials will be available in stock. Managing an inventory management system or inventory of all the management functions is related to monitoring and material management. This includes control of material moved in and out of store locations and reconciling inventory balances, setting targets, providing replenishment techniques, status of current and planned inventory. The task of ABC analysis, lot tracking, cycle support account, etc, can even be a part of inventory management.

The first and most important step in inventory management is acquiring accurate information for input operations. The information obtained in advance can be a crucial factor in improving productivity of entry. Implementation of a forward strategy of entry and execution framework can be done without too much effort to reengineer the supply chain. The perfect way to start is to make the best use of available information and establish a set of rules and regulations to use the information efficiently.

In order to improve their work and progress further, can carry out a survey asking executives the supply chain for the name of the area of the five most important improvement in operations support systems. The survey results reflect better inventory planning as one of the destinations. It should pay particular attention to creating an effective means to maintain the integrity of inventory data or the creation of higher productivity and capacity utilization. Lack of efficient inventory data integrity can lead to large numbers of unproductive labor, underutilized capacity of the distribution center and decreased customer service levels due to incomplete or late orders.

Since last year dealers are expected for a device that can help control and manage their most important asset, inventory. As a result, several companies have developed software modules integrated inventory management and systems. These packages allow the distribution fresh to effectively manage their warehouse stock.

aid charity, however, can not provide solutions to inventory management. For the inventory management system to live up to their potential and perform their best, make sure you follow some basic ways good and very important to good 

For starters, make sure your company is protected against theft. There should be no problem of theft in place. When ordering, order and the amount of non-action or special items that your client has approved. To add an inventory, you must obtain a purchase commitment of his client. Ensure that the allocation and use of disposal sites. Creation and use of suitable disposal sites do a job picking seamlessly into your store. Never forget to make an entry of material coming out of his store. Try to get rid of "no cost / no papers' swap material. You must load the samples of products to a merchant account until you return to the public or customer.

Effective inventory management also requires a work on paper (pick up the documents to be completed by the end of the day, the entrance of each receipt single stock in the computer, etc) is up to the mark, identifying the most profitable replenishment strategy for each item in each store, creating some lucrative offers and rewards for buyers, specifying the guidelines for establishing the method of changing the order and the creation of an on-going dead stock and a program of control over inventory.