A Retail Stock Ledger Built into Your POS Software is the Difference Maker

There is a saying in aviation, "There are old pilots and there are bold pilots, but there are no old, bold pilots." That same theory holds true for retailers in a recessionary period. You can be bold and stock inventory that might appeal to a small group of early adaptors or be conservative and stock inventory that will turn fast and appeal to more people that are shopping for good value and universal appeal. Your POS Software should watch your inventory and purchasing decisions by using the POS transactions and showing you logical actions to take to be a consummate retailer. You don’t need a technical staff and professional buyers to make good purchasing decisions. You just need information that is simple to obtain and easy to understand. If you are not using a good Retail Stock Ledger, you are not maximizing your revenues.

This single sheet of paper can give you comparatives on vendors, items, classes, and departments. Who gives you the best turn rates and sell-through, vendor A or Vendor B? You now have the knowledge to make smart business decisions. 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. Let your POS Software be your workhorse and give you the information to chart a course in rough waters.