POS Software with Retail Stock Ledger and Open-To-Buy
What could a quick view and single sheet of paper do for your business? Everything if this single sheet of paper can give you comparatives on vendors, items, classes, and departments. Which vendor gives you the best turn rates and sell-thrus and which department gives you the best return for you investment? Knowledge gained from your POS software will give you the information to make smart buying 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.
Controlling inventory investment is a primary reason retailers purchase POS Software/Retail systems. Properly “timing” inventory means gaining control over cash flow. A quality retail stock ledger that works hand in hand with your Open-to-Buy planning lets sales revenue pay for incoming merchandise rather than having to borrow money. Your Open-to-Buy plan serves as the “budget” for inventory, sales and purchases. The Open-to-Buy report is the “financial statement” for your inventory. With ProphetLine’s Open-To-Buy Module added to your POS software, you will be able to develop and execute your buying plan easily and accurately. With a properly managed buying plan, you can improve your stock turn rates, cash flow, gross profits and return on inventory investment. At the end of each month, you can identify and respond to trends as they develop. You can achieve optimum stock turn rates, while keeping inventories at the proper level to support expected sales.