18 Jan 2014

What is a Stock Control System and What are Its Advantages for Your Business

stock-control-2The key to having a successful business is making sure that you are able to efficiently manage it. This includes management of your staff and personnel, your inventory, and your promotions and marketing efforts. In order to do this, you need to be on top of everything as a business owner. This can be a taxing and time-consuming task, unless you are able to employ the right tools and systems to help you streamline your business processes. One of the most helpful business resources that you can possess is an advanced stock control system, coupled with a good POS solution.

Modern Solutions for Your Business

Systems for inventory management and checkout have been in existence probably as long as business and commerce have been around. In the past, these were manual systems manipulated and computed by personnel. In recent years, as technology has steadily advanced, these have transformed into computerised systems that are automated and able to process information quickly and accurately. These modern solutions not only make things easier for employees, but it also assures business owners of a lower risk of error and inconsistencies. The emerging trend nowadays is that of cloud-based systems, which are accessible over the internet, allowing for 24/7 accessibility at your convenience. For this reason, many have opted to switch to retail software solutions that are computerised – such as the ones offered by Retail Express.

What the Right Stock System Can Do For Your Business

With lesser errors, quicker processing of information and data accessibility anytime and anywhere, you know that your business is on the right track to success. On an inventory perspective, in particular, being able to ensure that your stocks are moving is one of the most essential things towards business efficiency. Having an item stay in your stock room beyond its date of expiration, or past its prime is an almost sure loss for your company. This holds particularly true for items that have a strict shelf life, where spoilage not only means that the items are no longer saleable and therefore you lose income, but that the money you have invested into acquiring these goods has gone to waste as well. Retail Express’ inventory management software will allow you to quickly see which items are quicker in turnover, and which ones spend more time on the shelves. This gives you the opportunity to think of ways to push the sale of these items through promotions or price drops.

Providing Relevant Products for Your Market

Together with your point of sale system, your inventory management systems should be able to allow you to gather information about your clients and shoppers. Little things like knowing which of your items are of high demand, and when you can expect a surge of clients can dramatically increase your sales. You are not just selling a product or service, after all. You are providing your clients with an entire shopping experience, which should be designed to meet their needs, a hundred percent. It is in being able to do this that you guarantee yourself of repeat customers, and the sure way of being able to do this is by being aware of your customer behaviour, as well as their needs and their wants. By being able to properly use the data that gathered from your stock control and POS systems, retail store owners can really become attuned to these needs, and thereby are able to put yourselves in a position where you are the ones who can fulfil these needs.