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Inventory Management & Why Your Business Needs It

It is crucial to know what products or services are selling the most and which products or services are selling the least. Being able to track inventory has changed a lot throughout the years, but now it is made easier than ever with TouchSuite’s inventory tracking feature. You can easily keep track of what is in stock in real time. Know your best seller items and which items may be hurting your business in order to be able to help improve your purchasing patterns. Track how long a certain item has been in stock, or which items should be marked down. Eliminate the over ordering and under ordering by determining the best times to place another order and at what specific quantity. Be able to control your costs by knowing how much you are spending on inventory as well as how high your margins are.

The major benefits of TouchSuite’s inventory management features include:

  • Purchase Management
  • Increase in Profit Margins
  • Reduce Waste & Theft
  • Robust Reporting

There are many factors that play into your daily business operations. Business owners must consider holiday seasons, day to day specials, seasonal influences and much more. With TouchSuite’s inventory management feature, you can create alerts for once you reach a certain quantity for specific stock items, allowing you to never lose the opportunity to make a sale.

You can also easily create reports that track past year’s sales numbers in order to improve your upcoming order process. With our reporting feature, this provides your business with the inventory necessary for critical buying decisions.

Enhance your customers’ experience by spending less time in front of your point of sale system when inventory is being tracked live and spend more time getting to know your customers.

You can easily import thousands and thousands of SKUs as well as add more inventory whenever adjustments are necessary. You can also create bundles if you would like for certain items to be sold together.

Inventory management helps you calculate waste loss percentages automatically as well as waste loss variances, which can help your business manage loss or shrinkage quickly and easily.

To learn more about TouchSuite’s point of sale solutions, please click here.