The benefits of having a good inventory tracking system
Keeping up with the movement of stock is perhaps one of the core responsibilities of retail management. Without knowing what you have, how much will go and how much is coming in, you will easily find yourself out of pocket or losing sales. Always track your inventory to run your business efficiently.
Everyone experiences a time when, no matter how many times you count, things don’t seem to add up. What happened to that one crate you were positive you had at the back of the warehouse? Without keeping an accurate account of what is where in the first place you have little to fall back on.
Improved customer service
If a customer has come to you for something specific that they can’t find in your store be sure that when they ask for more information that you can tell them you have more in the back or when the next shipment is due in. What’s more is that if you can put down a reservation on an item for a particular customer than do so.
By keeping a close eye on your stock you can see what sells well and spot trends in the market. This will also be an indication of when you should invest in more stock. Similarly it will tell you what’s not selling well and may require a stronger marketing strategy to move product along.
The more you know about your stock and the market the less likely you will be caught off-guard. Our reporting system can keep you updated from previous year’s information as well so you can prepare your stock in advance of any upcoming events.