When a business in retail or hospitality, shops, restaurants, hotels have too much stock that can end up costing money. However, with a great POS system in Denver or anywhere, you can use the inventory control capability to lean more towards having less stock and that saves money. But it only works with a reliable system that can give accurate counts of current stock and track missing items.

In fact, having a point of sale system can help you take better control of your business and they have a range of actions for managing inventory that can be very useful. Here is a look at seven areas where having tools for managing inventory can help retail and hospitality business get a real handle on their stock.

  • Categorized stock items – Every item in stock is placed into categories and then further into sub-categories. It is possible to track stock via codes, descriptions, name, categories, cost, profit margin, re-order level and more. When there is a change in the item's price that changes everywhere, in recipes, menus and so on.
  • Managing inventory – With a Point of sale in Colorado Springs you can run inventory reports on storerooms, different shops or restaurants, and track down items, you can also look at changes in products including size. You can use inventory reports for a variety of purposes, and you can view past reports to compare and gather statistics. Taking stock no longer takes hours or days.
  • Better control over liquor – If you run venues that sell liquor and have concerns about employees not having tight control on it, you can have a POS beverage monitoring system linked in. With wireless tags on bottle tops, computerized dispensing taps and monitors for beer flow you can track it all and reduce personal consumption, spillage, and waste.
  • Order management – Purchase orders can be made based on stock management and tracking. With the process being automated there is less chance of people ordering too much or too little of something.
  • More efficient goods receiving – When running a food business it is especially important to have proper purchasing management and goods receiving as it all has a short life. With a point of sale in Colorado Springs or anywhere, this is automated too and then matched to order numbers and automatically verifying things like quantities and price. Invoice numbers, delivery notes, and charges can be added to the order's history.
  • Closer control on staff – When you have an automated control on stock, whatever type it is, you can better make sure staff are not stealing from you, and find those that are. This can save a lot of money. You can also track who is at the register and you can even get electronic wristbands for staff that they can log in with. A pos system can connect too with video surveillance systems.
  • Management across different sites - If you have more than one store, hotel or restaurant you can use a POS system in Denver to track stock across all of them, track transfers made between locations and consolidate reports for each of them.
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