Stock control can be one of the major areas that retail businesses struggle with when it.– If you do not have stock-on-hand information available, then you stand to lose money through stock running out across your retail stores. This leads to a reduction in revenue as you cannot sell what you do not have in store.
The following information will provide you with some insights into how a good stock control system can result in some significant savings for your business:.
1. Cloud Based – by choosing a cloud based stock inventory management system, you save money by not having to physically buy a product and have it installed on all your businesses machines. If you have a physical software POS solution, then this requires IT specialists to maintain it. With a cloud based solution, you pay an ongoing monthly fee and all the IT stuff is all taken care of – saving you time and money in the long run.
2. Smarter Stock Control – by utilising a POS solution that has smart stock control built into the software, you will be able to quickly reorder stock before it runs out, replenish stores on a regular schedule and determine which stock you are going to put on sale because you have too much of it. This type of stock control allows you to get an instant ‘return on stock’ while increasing revenue and customer loyalty through always having stock available when customers want it.
3. Customer Loyalty – with a good stock control system, you can increase repeat customers through customer loyalty programs. With a cloud based inventory management system, you are able to utilise marketing that is targeted at your specific end customer. You can produce loyalty cards, vouchers, bonus points and ongoing email and newsletter communications – all allowing you to keep in the forefront of your customers mind and encourage repeat business and increase sales that will greatly impact on your bottom line.
4. eCommerce – by accessing a POS solution that provides an integrated eCommerce function through a webstore, not only will you capture sales instore, but you will also capture sales online. You can customise your webstore to look and feel like your store as well as additional features such as ‘responsive’ mobile designs – allowing anyone with access to a smartphone or tablet to buy from your store while they are on the go. With this added function, you are increase sales across multiple platforms and accessing a wider range of customers.
5. Easy POS Understanding – with a cloud based POS solution, you can be up and running in under an hour, including ‘training’ of staff. With a point of sale system that is intuitive and easy to navigate around, you greatly reduce the amount of training required to staff. In fact, most staff will not need training as a good stock control system provides a system that works how it should in a retail environment – quick, responsive and easy to use.
With benefits like this, it is easy to see why making sure you have a good stock control system working for your business is imperative to reducing costs and increasing savings.
Retail Express provides all these and more and can easily be customised to meet your needs. If you are a new store, kiosk or a pop-up shop, you will greatly benefit from utilising Retail Express. For established retail stores, you can save time and money by switching to a cloud based solution that provides you with great stock control and point of sale information.
Originally developed in conjunction with a retail business, Retail Express continues to improve their solutions through regular engagement with the retail community and ongoing research and development in technology advancements. Visit www.retailexpress.com.au today to learn how we can benefit your business.
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Author of Post: Aaron Blackman | Date of Post: 2013-10-21