EPoS Stock Control
EPoS Stock Control is one of the main benefits of an EPoS system. Instantly see your stock holding and where you are under and over stocked.
What is EPoS stock control?
One of the main purposes of an EPoS system is for stock control.
Hold too much stock and you are effecting cash flow.
Hold too little stock and you will miss out on sales and disappoint customers.
Finding the right balance in the middle is where an EPoS stock control system can really make a difference.
How does stock control work?
Every change to the stock level is recorded and added or subtracted to the stock level on file in real time.
So whenever you look, you have a live upto the second stock figure for every product you stock.
Using this information along with past sales records, buyers product knowledge and the time of the year, you have all the information to make an informed decision on what to reorder and at what level.
Because of the industries we specialise in (Garden Centres and Farm Shops), there is a seasonal element that is greater than in most other types of retailing.
Supermarkets always need bread on the shelf, Garden Centres don’t always want pansies on the shelf. So it’s important to look at past data to make a final judgement.
How Can Stock Levels Be Adjusted?
Sales
As stock leaves the store due to sales, stock figures are reduced by the correct amount.
Goods In
When new stock arrives, stock is added to the system increasing stock levels.
Goods Returns
Goods to be returned to the supplier for a variety or reasons including unwanted substitutes and product recalls.
Own Use
If you want to take an item off stock to be used in your business e.g. a pair of gloves, this is recorded but does not increase turnover.
Wastage
Record items no longer suitable to sell due to damage or expiry dates.
Manual Adjustment
Manually adjust any stock level to make a correction or for a quick stock take.
Till Returns
If items are returned by customers, this may or may not be added to stock levels depending if the item is fit to be sold again.
Used for Kitchen
Record stock being taken from the shop floor for use in your restaurant or cafe kitchen.
Where Can I Make Stock Adjustments?
Till
Make adjustments by doing sales and returns. Own use and wastage can also be done on the tills.
Portable Device
If you have our portable devices you can change live stock figures manually, and complete Own Use and Wastage tasks.
Back Office
Do everything you need to in our back office software.
Benefits Of Stock Control
- Find where you are under stocked and order more.
- Find where you are over stocked and convert this excess back into cash via promotions.
- If you have accurate stock levels, save time by making use of automatic ordering using min & max or replenishment filters.
- Project how long your current stock levels will last based on previous years sales data, or weeks of stock holding.
- Run accurate stock valuation at any point for accounting purposes.
- Make use of the buying budgets taking into account current stock levels, sales patterns, purchase orders and goods inwards.