Making sure your Inventory on-hand counts are accurate is an important part of your retail management. You don’t want customers to be turned away because you are out-of-stock on something they want to buy now.
WhizBang! reports a simple technique used by the Tesenes, owners of a pet boutique in Naperville, IL, that really helps with Inventory accuracy. In your POS System, set up a customer with the name “Donation.” Then, whenever you donate a product to a charity, “sell” it to your customer called “Donation” and give them a 100% discount for their purchase. This allows you to track your markdowns accurately and keeps your on-hand inventory count correct. (Remember that any time you give something away, it’s a 100% markdown.) Using this technique, you now know:
Exactly how much you’ve given away to charity
Exactly which items you’ve given away to charity
Which employees are giving items away to charity
“Damage” and “Store Display” can also be set up as customers to track how much you’re marking out of stock in those areas, making your inventory on-hand counts correct.
There are many ways that your NCR Counterpoint POS System can be customized to suit the needs of your particular business. If you would like help with customizations that you would like to set up, give us a call at 800/425-672-4806 or email us for further information. Get better organized now!
Marlene