Any
business that sells products needs a reliable method for inventory management. With bar codes, point-of-sale software and
warehouse tracking, an automated inventory
management system makes it easier for your business to stay ahead in the competition.
Either you run a repair store alone and manage hundreds of spare parts all by
yourself or you have a workforce who keeps check on stock levels and repair
parts; a powerful inventory management system is your need!
Inventory management system can benefit you in the long-term by organizing your product
inventory and allowing you to have a better and broader understanding of what
is coming and going at your warehouse or repair shop. To have better
understanding of the inventory management software, let’s get into the details
about how it can benefit your business;
1. Hours Saved Daily
With
a dedicated system for your inventory, you and your staff will feel an instant
relief of pressure. Any hours spent on manually typing, printing, and applying
every shipping label are returned to you. Some small businesses spend many
hours doing manual stock management
every day, that it lacks them behind in earning profits and valuable sales.
2. Automated
Reordering and In-Stock Information
Inventory
management software keeps you informed about the
stock levels, whether an item is in stock or out of stock. With the inventory
status on-hand, you’ll be able to make the accurate decisions. As inventory
drops below a specific threshold, new orders are placed with vendors and
tracked to let customers know when the new products will arrive.
3. Reduction in Costs
When inventory is a big part of your small business’ daily
activities, having an understanding of what kind of inventory you have on-hand
at any given moment and how quickly that inventory is moving, is key to
reducing inventory costs. If you use the inventory
management software, you will be able to reduce all the additional expenses
by not stuffing up the storage with materials you don’t really need.
4. Integration
with Accounting
Inventory management system integrates with accounting software to track cash flow.
This simplifies the process of transferring inventory costs and reduces the
need for additional bookkeeping costs. Financial statements are more easily
generated with shared data between stock
management and bookkeeping.
5. Greater Accuracy
Inventory process involves physical counts and manual
spreadsheets, that is not only time-consuming and labor-intensive, but often
inaccurate. Manual data entry introduces too many human errors. Incorrect
counts lead to disturbance of stock management, which often means lost sales
when customers can’t find what they want. Automating processes with a POS inventory management system will
give you a much better picture of what you have, where it is, and what you
need.
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6. Reporting
POS Inventory Management Systems also have reporting features that allow you to keep a
close eye on sales, profits, and expenses like Cost of Goods Sold (COGS).
With cloud POS reporting, you can access reports even when you are at home or
traveling. No matter where you are, you’ll always have the information
you need to make data-driven business decisions. RepairDesk is a POS Inventory Management software with a great reporting module that gives you a
dashboard for managing multiple stores and gives a high-level overview of your
business insights.
7. Faster Service
In
this super-fast age, on one likes to wait. In fact, if checkout lines are too
long, customers will get frustrated and put back the items they intended to
purchase and walk out. Inventory
Management system allows you to make the most of the fast checkout
experience to engage customers and make sure they leave with a good impression
of your brand.
Cutting
out short, Inventory management is
key for long-term business growth. As
you can see you can’t manage your business without competent inventory
management software. Choose one that works for you and your business!
