Many retailers understand the foundational importance of point of sale (POS) technology as well as the critical nature of inventory management. Yet even as more business owners embrace hardware and software automating POS and move away from manual inventory counts, there remains an opportunity missed. Sync retail POS and inventory systems and gain these 5 benefits as retail operations are optimized.
Some 64% of single-store retailers arenít using a POS system, according to a Software Advice survey. What are they missing? Many key capabilities:
Without a retail POS system, the retailer risks missing out on critical business intelligence and may slow down their business growth. Syncing the retail POS and inventory systems can see the retailer optimize even further.
Sync the retail POS and inventory systems to gain key insights into customers as well as product inventory levels. Combining an understanding of what customers want and when they want it, with real-time access to inventory status, the retailer can order smarter.
An integrated system could help the apparel retailer identify sizes and colors in demand in various seasons to drive ordering decisions. Being able to identify shopping trends and simultaneously track items helps retailers better monitor inventory levels. Quickly resupply top sellers to avoid being out of stock when a customer is seeking a desired item.
With retail POS and inventory integration, the retailerís sales associates gain real-time access to inventory information. The associate is able to provide more accurate information to customers on the store floor and better able to suggest an alternate, comparable item.
With a dashboard view of product availability, pricing, costs, and sales, the retailer can more easily identify the low-selling products and phase them out. With integrated systems, the retailer can setup and activate price updates in real-time to take advantage of new opportunities or match competitors.
Connecting POS and inventory systems lets the retailer see unified inventory and sales across stores and retail channels. Know when an item sells in one store location or online and eliminate overselling for good. Instead of struggling to manually update systems across retail channels, enjoy accurate, real-time information sharing to drive cross-channel analytics.
Integrating POS and inventory systems gives retailers better control over stock information and better customer, employee and point of sale management tools. Sync retail POS and inventory systems to boost business cash flow, maximize inventory investment and gain better business intelligence to drive sales and customer loyalty.