An easy way to improve your retail business is to do a department/class comparative that gives you the percentage of…
Retail Stock Ledger, Open-To-Buy Planning, Retail Easy Reporting & Accounting. ProphetLine, Beyond POS Software!
There are many new products on the market that advertise POS Software as cheap, free, easy and that is probably what you will get, a glorified cash register that can open a drawer, print a receipt, count your change and it is cheap, free and easy.
ProphetLine obtains the more important benefits relating to margins and investment. We call this the “Retail Easy” way of merchandising. We do a multitude of formulas and algorithms behind the scenes and come up with an easy to understand way to run your business and control your inventory, which is the life blood of retailers.
Retail Easy takes all the data that is obtained from your purchases and sales transactions and gives you a single sheet of paper with comparatives on vendors, items, classes, and departments. Who gives you the best turn rates, sell through and margin, vendor A or Vendor B? This is knowledge to make smart business decisions, not a bunch of lists that have very little comparative meaning.
The typical retailer is overstocked by 10-25% at any given point in time, meaning that for every $100,000 in sales, there can be $5,000 to $25,000 (at retail) in excess inventory on the shelves. When you start looking at $500,000 in sales, the wasted investment runs into six figures. Imagine converting $100,000 of excess inventory into cash.