EPoS Stock Control
EPoS Stock Control is one of the main benefits of an EPoS system.
Instantly see your stock holding and where you are under and over stocked.
What is EPoS stock control?
One of the main purposes of an EPoS system is for stock control.
Hold too much stock and you are effecting cash flow.
How too little stock and you will miss out on sales and create disappointed customers.
Finding the balance in the middle is where an EPoS stock control system can really make a difference.
How does stock control work?
Every change to the stock level is recorded and added or subtracted to the stock level on file in real time.
So whenever you look, you have a live upto the second stock figure for every product you stock.
Using this information along with past sales records, buyers product knowledge and the time of the year, you have all the information to make an informed decision on what to reorder and at what level.
Because of the industries we specialise in (garden centres, farm shops, butchers), there is a seasonal element that is greater than in most other types of retailing.
How can stock levels be adjusted?
As stock leaves to store due to sales, stock figures are reduced by the correct amount.
When new stock arrives, stock is added to the system increasing stock levels.
Goods to be returned to the supplier for a variety or reasons including unwanted substitutes and product recalls.
If you want to take an item off stock to be used in your business e.g. a pair of gloves, this is recorded but does not increase turnover.
Record items no longer suitable to sell due to damage or expiry dates.
Manually adjust any stock level to make a correction or for a quick stock take.
If items are returned by customers, this may or may not be added to stock levels depending if the item is fit to be sold again.
Used for Kitchen
Record stock being taken from the shop floor for use in your restaurant or cafe kitchen.
Where can I make stock adjustments?
Benefits of Stock Control
- Find where you are under stocked and order more.
- Find where you are over stocked and convert this excess back into cash via promotions for use elsewhere in your business.
- If you have accurate stock levels, save time by making use of automatic ordering using max & min stock levels.
- Project how long your current stock levels will last based on previous years sales data.
- Run accurate stock valuation at any point for accounting purposes.
- Make use of the buying budgets taking into account current stock levels, sales patterns, purchase orders and goods inwards.