POS and Inventory Systems
POS and Inventory Systems naturally go hand in hand. Today’s hardware and software systems give us so much scope and scalability without having to cost the earth.
They perfectly talk to each other. So when you scan an item in the front, it is taken off the stock in the back. It keeps data relating to the transaction so you can run reports and work out how to grow your business the way you want to.
The power of a POS system integrated with an inventory system is not just reduced running costs, increased efficiency but more so it allows you to see trends in your business and forecast for the future.
What is a POS System
POS or Point of Sale systems are the progression of the cash register. A POS System is the technology that happens at and around the point of a sale. It includes the hardware to take credit cards, the software to process and record the transaction and the printers to print the receipt. The information is digitally recorded and can be linked directly to accounting software, inventory system and let you know exactly where you stand at any point in your business. The power of a modern POS system is incredible. Not only is it easier to scan items and make the transactions, the true power comes with the data collected and how you can run your business with forecasting in mind. Its one thing to put in a system, but its another thing completely when you can manage stock, fully understand your customers spending habits and know accurately what you can expect to take months in advance.
An Inventory System is the combination of an inventory software program and the hardware to store and process the data.
The software allows functions and process to be performed like,
- Bulk product imports
- SKU assignment, organization and customization
- Warehouse segmentation and organization
- Customer data segmentation
- Easy order fulfillment
- Centralized product catalog
- Global or local product price adjustments
- and much more
The hardware in an inventory system is,
- Scanners and RF readers to capture and input data
- Tablets, laptop, PC or servers to process and display information
- Printers for order packing, Bar code printing and reports