Stock management is a delicate implementation, in which many elements and performers come into play. Out-of-stock or overstocking is more recurrent problems than it seems. And while they’re not insurmountable for businesses, they can be harmful in the long run. But don’t worry, Point of Sale Systems can help you improve inventory management and prevent stock outs, let’s explore how!
What is the Point-of-Sale System?
Point of Sale System is an IT tool capable of supporting companies in organizing their inventory. Thanks to the intelligence of the solution, it counts on a daily basis the entries and exits of products and goods produced or stored by the company within a logistics warehouse. It thus integrates each stock movement, making it possible to carry out inventories and give an inventory at a given moment. It is therefore designed to optimize and facilitate the logistics management of companies.
How Point of Sale Systems improve inventory management and prevent stock-outs
The functions of the Point-of-Sale System are numerous and allow the supply chain to optimize and facilitate the company’s logistics operations:
Management of logistics activities- As soon as the goods are received, the Point-of-Sale System makes it possible to identify, control and organize the storage of goods in the warehouse. The solution controls the quality of the products and determines and ensures the scheduling of the preparation of the orders as well as the dispatch of the orders. Ultimately, the Point-of-Sale System ensures the operational excellence of the warehouse or factory in which it operates.
Better inventory traceability- One of the essential functions of the Point-of-Sale System is the monitoring of flows and stocks in real-time. The precise traceability made possible by a POS solution notably allows efficient management of the stock status as well as the restitution of information in real-time throughout the life cycle of the product in the warehouse, in the factory, and during its transport. Finally, having a follow-up and fine traceability of stocks allows the precise realization of a logistics audit aimed at optimizing operations.
Reduction of human errors in inventory management- In the warehouse, the tasks are multiple, especially since the advent of e-commerce and omnichannel. Reception, control, picking, shipping, etc. To best support operators, a Point-of-Sale System is essential. It organizes reception by storage area, determines optimized picking paths, guides employees, and thus enables them to reduce their risk of error. On average, the installation of a Point-of-Sale System solution shows an increase in logistics productivity of 20 to 50% as well as an error rate below 1%.
DLC management- Some sectors, like the food industry, require the implementation of functionalities adapted for the traceability of products, the control of storage, and, more particularly, the management of expiry dates. Point of Sale System has the ability to identify batches and dates of products shipped or in stock. It thus ensures the management of DLC (Date of Last Consumption), batches, and date contracts in reception and in shipment, and thus guarantees the safety and sanitary control of logistics activities.
In conclusion, effective inventory management and prevention of stock-outs are critical for the success of businesses in the food industry and beyond. Point of Sale Systems offers invaluable solutions to achieve these goals by streamlining logistics operations, ensuring better inventory traceability, and reducing human errors. Among these solutions, BillMade POS stands out as a reliable and efficient choice. With its user-friendly interface and comprehensive features, the POS system empowers businesses to take control of their inventory and maintain optimal stock levels.
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