| Inventory control in any business is critical in maintaining | | | | your own instincts or memory, you can use past |
| costs and maximising profits. A point of sale software | | | | experience as a more reliable indicator for stock |
| system can help in both these aspects of business | | | | purchases. |
| management by tracking the details of every sale so | | | | When your sales records indicate a changing pattern it |
| you can quickly analyse profits and get an instant | | | | is much easier to use the information to examine the |
| assessment of your stock position. | | | | type of trend that is occurring in your business. You |
| Many small businesses rely upon manual systems and | | | | may discover that whilst the shawl from our analogy |
| sometimes even their memory before determining | | | | still sells in good numbers, certain colours are more |
| which stock to order. This is particularly the case in | | | | popular than others. Being able to pinpoint exact |
| small fashion outlets where many owners rely upon | | | | features of saleable items is a valuable tool that you |
| their own judgement in deciding how much stock of a | | | | can use to estimate your inventory requirements. |
| particular item they are going to order. | | | | A further advantage of a point of sale software |
| Imagine that you are reading a fashion magazine and | | | | system is that you can examine sale trends at certain |
| noticed that one of the models is wearing a beautiful | | | | times of the year. When you look at the effect of |
| red shawl. The idea pops into your head that if you | | | | seasonal sales it can help you determine the volume |
| stock this particular item and displayed a magazine | | | | you should order at a particular time of the year. For |
| article at the same time, your buyers will flock through | | | | example, the red shawl may sell well in May and June |
| your doors in droves ready to purchase that exact | | | | but then drop off substantially in July. With this |
| same shawl. | | | | knowledge in mind you would only place an order for a |
| Now imagine further that after three months you still | | | | small number of red shawls at the end of May. |
| have 98% of your stock of rituals in the back room | | | | Utilising the detailed knowledge of your sales records |
| gathering dust as your instincts have now been proven | | | | over a number of years gives you an instant |
| incorrect. | | | | advantage over competitors who do not use the |
| A point of sales software system can help you avoid | | | | same software. You have the luxury of ordering stock |
| these very situations. Here's how. | | | | in small numbers to gauge their saleability before |
| By printing out a report of all your items sold over a | | | | committing to large orders and the accumulation of |
| similar period in previous years you can gain a detailed | | | | your sales knowledge over a period of time makes an |
| insight into the types of items your business sells best. | | | | enormous contribution to your ultimate business |
| Shopping patterns are usually well-established for each | | | | success. |
| individual business and rather than having to rely upon | | | | |