Whether you sell a simple menu of foods, offer services for beauty stores, or sell retail items for people or pets, odds are high you’ve got a high number of products you need to manage and maintain stock for.
Inventory management is one of the first and most complex hurdles for any new and growing business. You may be used to simply roaming the shelves or knowing intrinsically which products to purchase and when, but the truth is, those methods can’t last forever.
Plus, in today’s day and age, it’s important to sell products online as well as in-store, so how do you know you haven’t sold products online that you don’t have in stock? It can all become very confusing, so to manage everything, let’s talk about getting your inventory management under control.
The Basics of Inventory Management – Reporting
Step one (and typically the step that many people have already taken) is managing inventory through reporting.
Many point of sale softwares offer this capability, but if it isn’t something you have set up yet, it’s a prerequisite for the rest of the tips we’ll be going over today. You can have reports run periodically to keep up with all of your inventory, how quickly certain items sell and arrange for items to be ordered with enough lead time to be restocked before time runs out.
Generating Purchase Orders
Reporting is handy, but many platforms only offer this as a manual feature, which means, if you don’t remember to run your reports, you’re back to square one.
That’s where smarter systems like the Franpos solution come into play. With Franpos, you can have the system automatically generate purchase orders without ever having to remember! That way, you can have products ordered exactly when you need them.
Where things get more complex for many is with eCommerce. For business orders with point of sale software that reports or even generates purchase orders, that doesn’t help them much when customers can order online as well as in the store. So if you’ve only got twenty units left and someone orders twenty-five, how are you supposed to fill that order?
Only Franpos offers integrated eCommerce alongside the other tools we’ve mentioned today. With Franpos, you’ll never sell products online you don’t have in store. Combined with automated purchase orders, you’ll never have to worry about poor inventory management ever again!
The Franpos Solution
With the Franpos solution, inventory management is only the beginning. Robust eCommerce software, powerful marketing tools, back-end reporting, and much more are all possible for one low monthly cost!
Interested in learning more? Click here to schedule your free demo today and see why thousands of clients use Franpos to grow their business!