EPOS and Stock Control
We have told you what EPOS stands for now let’s delve a little deeper into those cost-saving benefits for your business. Stock control let’s face it, is normally a boring rainy-day job that no one looks forward to doing so it makes sense to have a system that tells you what you have and what you need to re-order.
Having an automated and easy stock system is a business essential, but particularly in hospitality or retail where goods are moving quickly. It tells you what you have and haven’t got in real-time. EPOS stock control is easier than you think, say hello to your new best friend the back-office software.
It knows everything about you and your business when it comes to stock. Most back offices are cloud-based systems that can be accessed anywhere you have the internet on a tablet, laptop, or phone. So no matter what your working hours or if you are away from your business you can keep a handle on things. On a basic level, an automated system makes that dreaded task of stock-taking a lot quicker and easier. Rather than trying to work out what you have ordered against what you have sold, you simply look at the livestock and count that it’s all there.
Shrinkage aka losses happens in every business but what matters is how you account for it, so it has minimal impact on your profit margins. Food going off, damaged items, theft are the main reasons and although an automated stock system is good, won’t stop items from being stolen. It will allow you to pick up on this quickly meaning you save money though. Wastage is inevitable – beer lines need cleaning, things go off or get damaged etc. but accurately accounting for these losses is important. If you have a system that is easy to input this data into, it will let you begin to build a picture of how much is lost and when.
Prime Example
Take a pub, for example, you go downstairs and discover a load of mulled wine sat in the cellar – nightmare as it is February. You had festive fingers and ordered more as you didn’t see the five boxes hiding around the corner. An easy mistake to make when running a busy business but a costly and avoidable one. An automated stock system would have shown you that you already had some in stock. It also works in reverse – you have run out of your best-selling beer that your regulars drink day in day out if they see you out of stock for a few days they might go elsewhere.
The above are key points and a brief insight into how an EPOS system can help you manage stock and start increasing your business profitability. It isn’t just about accounting for what you have in stock, it is a vital tool to be used to ensure you have the correct items in stock. Our Modern World team can guide you through the mind field of stock control and get a system to fit your business so get in touch get in touch with us.
Next time we will be looking at how EPOS can improve your customer’s experience.
