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Stock Control

POS SOFTWARE

Each retail business needs a solid inventory control system. This often requires the use of retail labels. The is, as products you sell may be impossible to scan without explicit identifiers. So, you need bar codes tags.

There are many other advantages besides scaning if there is no available bar code:

-Easily count

-Instantly consult many details of the product

-See the quantity values

-Customize their prices

-Track the products on a shelf.

Our retailer labels are perfect for doing this in your store. Usually, they are adhered to the products by the adhesive on the back of the label.

If the RFID encoded required can be added to help prevent theft.

Above is a sample of our most popular label and the details that are put on it.

Our software allows many methods of producing such labels but the best and most professionals labels and in the long-term cheapest method are using direct thermal printers rather than ink cartridges or laser printers.

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POS SOFTWARE

 

 

If you look at the big retailers now, you can see that they are taking advantage of their vast amounts of data to build muscle to run their business. Here is an interesting piece of statistic. 35% of Amazon purchases and 75% of Netflix viewing now are based on computer-generated recommendations.

Ask yourself if they use it, why are you not using it? You have AI, too, in your POS Software. In our market space, it's the best and it is *FREE*.

So why are you not using your data to make decisions?

To be successful today, retailers must stay in tune with their stores' unique preferences and behaviour. Yet, there are too many stock lines and marketing seasons to do it properly manually. The best way to do it is with your AI. These tools are generally too expensive for small to medium retailers. This is unless they have our point-of-sale system as we have incorporated it into our software and issue it free. Using it, you will find it intuitive and straightforward to do. It does not require a lot of training. It is less work than the manual order.

Let's say you have a shelf for toy soldiers. You can not ask for unlimited amounts of toy soldiers. You have to decide how many to carry. So, our users can get a focus order. This is an advanced type of stock control method. It gives you an estimate of what you should order based on the time of year, the product current selling history and suppliers terms.

The AI follows the stock on hand and its business history. It then estimates the stock level required for these goods in the coming period. If it deems that the stock on hand is too low, it will recommend an order to a supplier. This is done with the speed and precision that no one manually can match.

 

 It is easy to set up and use for details. Please, click here

Data-driven ideas can create value throughout your business. 

 

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POS SOFTWARE

More than a year has passed since the coronavirus outbreak shut down theatres. This has placed many blockbuster release dates in jeopardy.

Today we are already beginning to see these lockdowns worldwide going. Soon some blockbuster films, such as The Matrix 4, Dune, and The Many Saints of Newark are expected to be released... maybe we will go to the movies soon.

Check here for the dates

In the hype already we can see Dune toys are selling exceptionally well. This is expected to be released this month. 

Soon many of you will be getting goods early that can't be sold before the official release date. 

For this, we have a *secure* category to mark these items.

How to mark items as secure.

Go to stock maintenance in your point of sale software -> Edit marked them as secure in the red box.

Just another example of how our software has useful items that you can use.

 

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POS SOFTWARE

Or why is Stock Control Important to your Business Operations ...

Please take a closer look at the benefits of integrating inventory management with your POS system.

1) An Integrated POS system with an inventory management function will save you a lot of time.

2) Your POS system tracks inventory levels.

3) You don’t need to spend days keeping manually controlling your stock.

4) You can also choose our integrated inventory management system. You can set your system to automatically place orders as you need them.

5) You will have fewer shortages as the computer will not forget to order.

6) Know where stock is. If you have a storeroom in the back, a few stock locations in the shop where an item is placed, where is the item? In your POS System, you can see where the stock is in the many locations in your shop. Suppose a customer comes to buy something. You look at the place where it should be. It is not there. So you now can glance at your POS system. It may tell you that you have one in another location in the shop. You have saved a lost sale.

7) Get the figure of shrinkage.

8) A POS system with inventory management functions will tell you what is selling when it was selling and to whom. You can then order more hot-selling items and divert your business from less popular items.

9) Save money on not needing a professional stocktaker.

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POS SOFTWARE

Christmas measured interest using Data Source: Google Trends.

At the best of times, getting organised for the Christmas season is a big task. Now an added problem is that with this crisis with deliveries, it is now so undependable. Click here for a compelling article.

Looking at Google Trend, the public mood is as good as Christmas last year. If so, the interest is there, alright. 

The other matter to consider is that we are vaccinating under 2 million people a week now. This is brilliant. Based on this, by Christmas, Australia will make the 70%+ immunised. This will put us up there with leading countries like Malta, UAE and Israel. 

If you want an idea of what to look for, use your Point of Sales Software to see what worked well and what did not last year.

This is a step by step method for doing this.

Go to register reports and select the top stock report as marked with the red arrow here.

 

You get this screen

Now it is best to work by the department as it makes it easier to study related products.

Now you need to review this list to see what did sell. You may find many items that did not sell; it would be best to explore these too.

Retailers that prepare well will be in a good place for Christmas.

 

 

 

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POS SOFTWARE

After the stocktake, many of our clients discovered that they are carrying many old items. These items are clearly not moving fast so actions need to be taken immediately. If not, then you may be forced to make large discounts in clearance sales soon to free up cash and space as above.

There are two other points here.

1) There may be much more missed.

2) You may have overbought.

Say, for example, you had last year ten items. You sold eight. Then you purchased five more, so you have seven now. You have overbought as you did not need to buy the five.

In your Point of Sale system, we have a quick analysis in seconds to identify your old inventory on the shelves. Click here for a training video on how to identify such stock.

Please check immediately for any stock you are carrying that are over 12 months old.

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POS SOFTWARE

 

Days of Supply KPI is how long will it take for a product to run out if sales continue as expected. It is evaluated in the periods based on your order cycle. This is as say you typically sell 20 items a month, you have 15 Days of Supply if you have ten items. But if your supplier needs 30 days from you sending them an order, the odds are here, you will run out.  If your supplier needs seven days, well, you should be okay. This is why knowing your supplier's delivery time is here critical. 

Calculating the *standard sell rate* for every item in the shop is impractical. But, not to worry as this is what your computer can help you do. 

Here is an example.

If you go to stock maintenance, call up an item, now press ordering as above. The product here has two (2) on hand. The focus (which is the standard sell rate per week) is on (4) sales. Thus, we can say that you can expect to run out in a few days. If my ordering cycle is weekly, you need to place an order as soon as possible. Otherwise, you will lose sales.

Our system gives you the information you need! 

Check it out. You will find it very useful.

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POS SOFTWARE

 Refrigerated items such as packaged foods products require you to do special handling.

- It also requires sometimes for you to prominently mark on your label something like “Perishable - Keep Under Refrigeration.” 

- It often requires close monitoring of these items once they pass a certain date. Then they must be transferred to a secondary location so they can be sold at a discount price. Then this has to be monitored as after a certain time they often require to be tossed. 

So what can you do about it?

What we recommend is that you identified and mark these refrigerated items. 

This is so you just by looking at the item on the screen know that these items may require special handling.

You’d do it like this:

Go to stock maintenance in your point of sale software -> Edit marked them as in the red box.

 

 

Just another example of how our software has useful items that you can use.

 

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POS SOFTWARE

 

- Still manually tracking inventory and sales?

- Are you trying to decide what your sellers are? 

- Need to know how many you need of an item?

Try this. It will take you one second.

Go to stock maintenance. 

Call up an item and then press Summary.

Here you get a detailed historical figure in real-time for any item for the last 24 months on that stock item. View the historical details of the stock item. See its sales trends over the past 24 months. It is excellent for reordering. 

Having our POS Software will make it much easier for you to provide your clients with what they want when they want it.

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POS SOFTWARE

The unfortunate fact is that we all have old stock sitting in the shop. As a rule, they say that you should look into cull the bottom 20% of your stock. 

You can look at the sales by GMROI, profit and numbers as I showed earlier. But you can also look at those products that are just sitting on the shelf. This is very easy to do and will take you only a second to do.

Go to register reports> Stock> Old Stock on hand.

Now pick a department and get a list of when this stock arrived and the quantity you have on hand.  I am sure you will find some are very old; this will be costing you by just sitting there.

Now please decide what to do with this stock.

Note: You can also run this report by a supplier, which sometimes is handy as some suppliers will allow you to return old stock.

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