Accurately tracking and controlling your inventory is one of the most important aspects of running a small business. Knowing what to order, when to order, how much to order, and how much to sell can make or break your businesses success. Sound brutal? Well it can be. And unfortunately applying traditional inventory management practices (like spreadsheets) won’t solve the problem. You’ll need inventory management software that integrates with your accounting software, your POS system and other business solutions. Thankfully with modern cloud-based POS technology you can get all this on an iPad.
Here are 12 ways iPad POS Inventory Management and Analytics can help you be a winner in 2017:
Already run your business on an iPad?
This is how you can use existing analytics data to plan for the future strategically:
- 1. Determine what items are driving your business. What are you selling out of before you can replenish?
- 2. Classifications: Are you selling more long sleeve, short sleeve or sweaters? Learn what classifications are driving your business.
- 3. Seasonality: When do you customers start shopping for the next season? Could you enhance business in a poor performing month by pushing up the availability of next season’s product?
- 4. Monitor Floor Changes: Was moving that product up front helpful? How did that move drive additional sales? Master your store’s floorplan for optimal selling.
- 6. Manage your inventory on a deeper level. Are you selling on multiple platforms? What is blowing out online may not be moving in store.
Still not running your business on an iPad POS system? It’s time to switch now!
Here’s how we can help you lay down the foundation for a great business year with the following features:
- 1. Take out the guesswork, know know what sells and what doesn’t. Continue to grow by focusing on your hot sellers and complimentary items.
- 2. Know your customer: Who is your customer? What is she buying? What is she returning? Is she Evolving? Having the answer to all of these help retail business stay relevant and grow quickly.
- 3. Master your space: Where is the best place for Denim? Sale? Your Hottest sellers? Change your floor-plan and monitor your inventory. Did that move make your profit spike?
- 4. Always stay ahead of the game: Know what you need to order, How much and when. Never walk a sale due to a stock out.
- 5. Be strategic about your seasonality: When do customers start buying sweaters and jackets? When are they ready for shorts and sun dresses? Don’t be the last store ready for the season.
- 6. Plan on selling online too? You can manage your inventory on both platforms with ease.
Analyzing inventory and monitoring sales activity might not be your favorite task, but spending a little time with the numbers today can help you in the future. Plus with an iPad POS System like Vend, Talech, or Springboard you can use a powerful inventory management software to automate your hardest jobs.
Ready to get started or still have questions? Shoot us a message or give us a call at 1-888-299-7574, let’s chat!