Inventory Management Best Practices
If you have a POS System, you probably have already set up some kind of department structure for keeping track of inventory. Good control of inventory, however, means that as your store changes and grows, you need to adjust your departments to reflect your current needs. Knowing what your customers are buying and making inventory adjustments accordingly is critical to the success of your business!
Sometimes, if you’re trying to manage too many departments, it is too time-consuming and doesn’t give you the information you need to keep your inventory up-to-date. WhizBang! suggests that if you keep departments to a minimum and then break up your departments into classes and sub-classes, it will be easier to add merchandise to the correct categories. In other words make your scheme more hierarchical to allow a focus in the hierarchy.
If you have NCR’s Counterpoint POS Software, departments are called categories which can have sub-categories. The names are different, but it’s the same type of setup. Take a look at the number of categories you have, and if you need to make adjustments to help your inventory control, give us a call.
We’re here to help you get the most from your POS System, so if you need assistance, our number is 800/425-672-4806 or you can email us. We welcome your questions!