Having a barcode system for inventory management means:
- Never having to search around for a pen again.
- Never having to interrupt a customer interaction to “check in the back.”
- Always spending your budget meaningfully on products customers want.
Making your inventory digital introduces an accuracy and accessibility that gives you more control over your business. Better control of your business lets you make decisions that impress customers, inspire loyalty, and increase revenue.
Upgrading your barcode system lets you:
- Monitor and automate inventory
- Produce quicker, more accurate stocktakes
- Bundle products
- Track sales
- Improve product presentation
You can introduce your own barcode system simply by modernizing your point of sale system and embracing the digital advantages of the 2020s.
A POS Solution Offers Limitless Integration Possibilities
A barcode system for inventory management works best when it lives within an overall point of sale (POS) solution that ties together all the working aspects of your business. Such a POS solution is a combination of hardware and software that links your inventory with your sales, your human resources responsibilities with your accounting responsibilities, and your in-service needs with your after-service analysis.
The leading solutions replace your clunky register with a multimedia iPad and any combination of cash draws, payment services, printers, or barcode scanner systems to provide a discrete, modern sales environment.
Pair these sleek devices with a cloud-powered collection of business software that can be accessed from any internet-connected device, and you have an entire business operating with the impact of a state-of-the-art network and the ease of a touchscreen tablet.
The barcode scanner is just the tip of the iceberg, but it demonstrates how effective these increasingly popular systems can be.
Streamline Inventory Management With Digital Functionalities
There are many reasons to go digital with your business, but the most important may be the fact it makes it easier to keep track of your sales and expenditure, which ultimately determine the livelihood of your operations.
A barcode system allows you to turn over the counting and tracking of products to a computer or mobile device. Every time you make a purchase order, you enter it within your POS system; every time the products arrive, you record them and create a professional standard barcode sticker that affixes to the individual product and/or carton.
With a scanner no more sophisticated than your smartphone, you can then account for every product that sits out back, loiters on your display, or makes its way out the door.
Having this simple control gives you the power to improve your business in the following ways:
1. Monitor and Automate Inventory.
A barcode is a way to quickly recall information about a product. Usually we only associate a barcode with ringing up a sale, but it can do so much more. Once the product information has been entered into your POS system, you can track its journey from purchase order to sale—and the failures to launch in between. This process also performs a continuous tally of everything you’re holding in inventory, which is helpful if you want to act on low quantities and sleepy sales.
After monitoring sales for a period, you can automate your purchasing to match the flow of goods. This ensures you never run low on popular items, and never over order the more specialized offerings.
2. Produce Quicker, More Accurate Stocktakes.
The immediate leap to make from having a living stock count is too making rapid stocktakes. Every item you enter into your barcode system for inventory management becomes an automatic entry in any future stocktake. At a moment’s notice, you can run a count on what you’ve ordered, what’s been moved, and what’s still taking up space in the back. You can even run a stocktake at the end of every day and readjust your plans around reliable figures. What once took days of manual labor can now be done in minutes.
3. Bundle Products.
When you take control over your own barcoding and product tracking, you open up opportunities to mix and match items to increase sales and earn customer loyalty. Every product keeps its digital place in the system, so you can bundle individual products together without losing track of their value.
The result is incentives for customers who regularly order related products, and expanded marketing options that can increase the sales volume of unpopular items through the strategic pairing with more proven stock.
Your POS system can maintain an accurate count of the loss and gain involved in product bundles, allowing you to capture a realistic understanding of their bottom-line value.
4. Track Sales.
Being able to track the movement of products in this way provides a unique insight into how your business works. By detailing the where, when, and how often of your sales, your POS system can reveal which products are wanted, when is the time for peak markups, and how trends in seasonality, sales, and staff impact revenue.
All the leading digital POS solutions offer reporting as standard in their solutions, so if you’re not using data science to gain an advantage over your competitors, then they’re probably gaining one over you.
5. Improve Product Presentation.
The final advantage to using a barcode system for inventory management is the professional aspect it lends your products. Rather than changing prices and promotions with felt pens and a crude sicker, you can present aesthetically appealing products with high-quality barcodes that convey competitive prices without looking cheap.
By utilizing a simple barcode system, you make it easier to make a better impression on your customers, and give them an even better deal.
A Barcode System for Inventory Management Makes Cents and Sense
The digital era is filled with tech that makes running a business easier and more profitable. By implementing something as relatively straightforward as applying professional barcodes to your products, you save yourself time and effort, plus you gain knowledge that could save you money.
If you’re done with searching the back room for a box of something you’re only half sure is there, consider integrating a barcode system within your POS solution.
Upgrading to the leading POS solutions created by talech exposes your business to the best of business hardware and software. You get access to data science, a barcode system for inventory management, and product control options that can improve the way you work and earn revenue.
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