Epos Process Part 1
Definition of an Epos System
In this section we cover what is epos is and try to come up with several ways of defining what it means to retailers like you
Why Run an Epos System
Epos is not like a fruit machine in that you plug it in and it starts paying out jackpots. The benefit comes in a series of smaller changes and you need to collect information to identify areas of improvement which is it’s key function. There are many reasons for choosing to use epos , which we cover as separate solution write ups. This normally happens after the problems are becoming unmanageable. Once you have made the decision to install epos you will not want to go back, but look forward to less stock and higher profits.
Epos = Electronic Point of Sale
Epos is a system used in retailing in which a product barcode is scanned at the cash till and the information relayed to the till computer. The computer then relays back the price of the item to the cash till. The customer is issued with an itemised receipt while the computer removes the items from the stock balance. Epos enables efficient computer stock control and reordering information as well as offering a wealth of knowledge about turnover, profitability, stock ratios, and other important financial information.
Reasons to change to Epos Tills
If the current tills are failing then now might be a good time to evaluate what EPOS can do for you. You don’t have to barcode everything at once, which means you can serve very similar to a cash register and add barcode ranges at your own pace. When the original entrepreneur is thinking of an exit strategy they might find it easier to sell the company if it uses EPOS. The stock levels are known, the procedures are in place and the knowledge on products recorded into a PC. The growth may have been rapid and the manual procedures stretched to the limit.
Reasons to change to Epos Tills
Introducing EPOS would save you having to develop new methods and re-inventing the wheel. Use the techniques that have proved to be successful by other retailers before you. This argument also applies when family managed businesses run out of family members as they expand and wish to ensure staff operate the tasks in a controlled and secure manner. The annual accounts meeting has yet again confirmed that despite all the effort, the trading has returned a poor margin or after trading stock levels are still too high. The introduction of EPOS would ensure that systems can monitor performance during the trading year, and affect the results before the year end. It will pay for itself over and over again with its increased functionality. Detailed sales reports give you a bird's eye view of your business including which items are selling and which aren't allowing you to make more informed purchasing decisions.
Business using no epos
Probably slow sales , with staff stuck at the till with little to do and totally de-motivated. There is too much stock and it is old and poorly merchandised. The labelling is hit and miss , some with prices some not. The stock gets counted once a year but always seems to be wrong. The owner or manager spends a lot of time away , buying or checking on other stores. There has been no investment in new technology , it seems frightening and cash is at a premium, so they hav
Business using epos
Having started from a similar point they had a management meeting where they decided that without addressing the stock issues and making changes they couldn't grow any further and would go into decline shortly. They put together a requirements list which rated items from must to wish. Have had some demonstrations from epos companies in the same sector and visited similar type outlets and spoke with their owners. They are now working through their installation plan. They loaded their product database from supplier spreadsheets. The prices were entered using radio handsets which also confirmed the product and correct barcode are on the system. Their backlog of purchase orders were put on and goods started to be booked in against these , provin
