Inaccurate inventory accounting is a multi-billion dollar problem, and the significant effect upon overall performance is often underestimated. Research by an MIT study discovered that discrepancies, mostly phantom inventory issues, cause losses in sales almost five times greater than previously assumed. Is your inventory invisible?
Real-time inventory data paints the whole picture.
What is the actual loss due to inaccurate inventory readings? There are many factors to include. For example, associate time spent looking for an item that does not exist is unproductive and creates a lacking customer experience. The sale is then not captured; as a result, an eager customer migrates to a competitor. A misplaced item thus has a spiraling effect easily avoided with the right tools to manage and update inventory from any device across multiple stores.
Inventory management solutions give insight.
There is more than one way to manage inventory, and every business operates in its own unique way. Efficient inventory management solutions need to be flexible as well as attuned to the way you track and manage your operations. It especially needs to integrate fully in the process from sale to re-stock. Take complete control of your inventory by using a system that allows you to be as granular as needed.
Record detailed merchandise information multiple ways: group items by category and subcategory; assign multiple units, vendors, and barcodes to each item. Track what is most important by customizing 20 different management fields. Assign up to 6 prices for each item using a custom pricing structure or by color/size or store with SKU-specific and location-specific pricing. Easily transfer merchandise between stocking locations and make merchandise distribution decisions based upon stocking levels or replenishment calculations reporting.
A complete shelf analysis lets you take inventory while operations continue in other areas. Track variances and freeze specific items, categories or locations. More than 40 inventory reports available to give insight for pricing, merchandising and purchasing decisions intended for gross margin ROI maximization.
Seamless inventory and profit/loss reporting is possible with a fully integrated POS. Inventory management solutions, such as NCR Counterpoint, refine inventory readings into data points for insight into productivity, trends and more.
Efficiency
The goal is optimization and increased profit margin, and precision is key to achieving that goal. Managed inventory results in managed profit.
With tools customized around your enterprise, anything is possible. Over 100 out-of-the-box report templates let you start building inventory insights immediately without creating custom reports. A modern POS can be efficient and reliable while offering cost-savings through highly accurate accounting accessible anywhere, anytime.
Improve business flow with detailed merchandise records, flexible pricing options, and in-depth reporting. Inventory automation reduces the amount of human error, saving time remedying the issues that arise from manual miscounting. Automation ensures that databases are accurate in real-time.
Reliability
Accessibility is a key factor in reliability. It is imperative that data: important reports, spreadsheets, documents, and databases– are not tampered with, lost, or destroyed. Data is stored in one centralized location, safe from viruses or computer crashes. Because one downed computer or device will not cause disruption to the whole operation, companies can rest assured that valuable customer data is safe.
Our solutions include customizable features as well as access from any device, anywhere.
Inventory Management Features
- Store inventory tracking in near real-time
- Cloud-based system
- Scalable system, vertically and horizontally
- Integration into NCR POS software
- Snapshot of future item shipments
- Secured transaction functions based on an associate’s authorization level
- One-click transaction completion
Mobile Device Access Features
- Real-time cross-channel view of inventory
- Bin location lookup locates online orders
- Automatic updates to inventory
Inventory that is always visible. Learn more about Inventory Management Solutions that paint the whole picture.
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Is your inventory invisible? To discuss inventory management solutions, contact Staley Technologies at (800) 280-9675.
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