When a retail business expands to the point where operating multiple locations become feasible, it’s a remarkable milestone. In order to keep their growing companies running smoothly, many owners turn to inventory control software.
Inventory management for retail stores with multiple locations represents a logistical challenge, especially if your business features an expansive product line or has a high inventory turnover. Without a proven POS system, you’ll be prone to:
- Lost product
- Misplaced orders
- Inefficient ordering
- More frequent out-of-stock items
- Increased customer dissatisfaction
It Starts with a Barcode
Inventory control software with built-in barcode tracking systems is one of the most efficient means of managing stock levels across multiple locations. Whether your business is citywide or nationwide, it’ll be monitored from a centralized database, allowing you to track your product no matter where it is in the supply chain.
Whenever a sale occurs, the barcode is scanned and the database is automatically updated in real-time. That means there’s no waiting for end-of-day reports to learn where your stock levels are at before you place an order.
Staff Stock Inquiries and Transfers
With fully integrated POS software, front-end employees have access to the company-wide inventory database, including offsite warehouses. This is a huge benefit in terms of customer relationship management for a number of reasons:
- Easily verify whether a particular item is in the store
- Order it from another branch or the warehouse, if available
- Ability to place and track special orders
In the event that a product is transferred from one store to another, the database will track the movement between sites and update accordingly.
Some POS solutions also include product information and descriptions, which allows employees to provide an enhanced level of customer service.
Real-time Stock Checks
Mobile barcode scanners make it easy to perform product counts anywhere in the store so you know where your inventory is at any point in time. This could include:
- Shop floor
- Receiving area
- Backroom storage
By knowing inventory levels at each of these points, managers have the information they need to make remote decisions without having to perform multiple counts right after stock levels change.
These operations can also be synced with multiple locations so that more than one user can perform inventory adjustments simultaneously.
Managing Multiple Stores
Staying on top of inventory for multiple locations requires diligence and great timing. Being able to monitor shipping and receiving at each store helps managers ensure product is received on time. It’ll also allow them to develop an efficient way of doing things.
Plus, if there’s a product surplus or deficit at one location, the person in charge can lean on another branch to make up the difference.
For more inventory benefits of POS software, read our post: 3 Ways Inventory Control Software Will Streamline Your Business.
Is your business expanding to the point where it’s becoming a challenge to maintain accurate stock levels? Windward System Five is a fully integrated POS system that features powerful inventory control software. Call us to learn how we can help you regain control of your business operations.