Update POS Software With Merchandise Planning
Inventory in your retail location only puts money in the drawer when it is sold, a simple statement that tells the whole story. The better the margins, the more it turns and the less it is marked down, the better the profitability of the location. POS software can give you the vital information to make decisions on the type of inventory to carry, the quantities at a specific time and the optimal price that will give you the best performance.
The most important part of good purchasing is having adequate inventory in stock when needed. This requires planning to determine the needs that will satisfy demand during a certain time period. Before your buying plan is finished, a level of inventory must be determined that will ensure the sale of the greatest number of units. POS software that takes historical sales data and automatically updates your retail stock ledger and open to buy plan will give you that edge that makes your buying efficient.
There are other options to pre-planning your inventory purchases; a visual check (there goes the day with the family), a weekly physical count (no sleep tomorrow night), stub control (pre-computer days). Procrastination is saying to yourself, if only I had not put off the decision to buy that POS software that did the merchandise planning for me.