One of the most common problems faced by retail management stores is the management of multi-locations when they expand their business. A business owner can’t be present at multiple places, managing the operations there, at once. To manage all this, what you are looking for is a Point of Sale Inventory Management system. From restaurant to retail, every industry needs to have accurate sales records for generating maximum revenue. If you have poor inventory tracking, your business is bound to fail. For a system to qualify as effective, sales and customer experience needs to be carefully monitored. A business can’t be successful if either one is ignored.
HowMuch has a cloud-based, multi-store POS that gives you a bird’s eye view of your stores, regardless of their location. It manages multi-store inventory for you, helps you generate accurate bills, keeps records of every transaction, monitors your staff, quickly generates promotion offers and gives you detailed cash management reports. HowMuch is the POS you are looking for to manage single or multi-stores. Today, let’s take a look at the three features a multi-store needs to fulfil the business needs:
Centralised Inventory Management:
Retailers house a lot of products, and there are certain products that sell all year long and certain products that are sold seasonally. For example, juices and ice cream would be sold much more in the summers than in winters. So, the POS display needs to be updated each season to draw more and more people. New promos and discounts should be made accordingly, too.
To achieve this, you require a multi-location POS system that can pass on these changes to all your locations. No business needs to change inventory as fast as the retail one. Every two to three months, the inventory needs to be updated. For financial success across multi-channels, POS is essential. A retail store needs up to date, and accurate inventory so always check the inventory feature before purchasing a system.
Managing Multi-Store Membership:
Membership programs attract a lot of customers. The reason is that memberships provide certain perks to the customers. They also are a source of revenue for the store, so it’s a win-win situation. Loyalty programs are trendy among customers, and according to research, last year, nearly 60% of the shoppers joined some kind of loyalty program. For retailers who have multi-stores, managing membership for each can be a challenging task. A multi-store POS can assist you in tracking your loyalty program across multi-location as all the data would be stored in a centralised database in the could.
Multi-Store Reporting and Analytics:
A good POS like HowMuch POS lets you manage all kinds of inventories and create reports for it accordingly. You generate individual store reports and multi-store report, based on your preference. You can also learn about your customer behaviour and their preferences through a good reporting and analytics tool. Getting deep insights into your inventory is the best of all capabilities. You can know which of your products is selling the most and in what location and devise marketing strategies accordingly. Similarly, you’ll have acute information on the products that aren’t selling and make strategies to change that. Understanding inventory is very profitable for any business owner. Just knowing the basics isn’t enough. Through POS, you no longer need to manage every product at your store manually. The POS can do the heavy lifting for you with ease!