Any business that is into the buying and selling of products needs a reliable method of inventory management. With bar codes, point-of-sale software and stock quantity tracking, computerized inventory management systems make it easy for businesses to stay updated consistently. Just like every new system implementation, it is necessary for business owners to know the challenges encountered during the first implementation of the computerized, shops as well as the benefits that are bound to follow.
Benefits of computerizing your business
Reordering and In-Stock Information
Computerized inventory informs the business manager whether an item is in stock. Because the inventory is synced with sales, there is a running tally of what is in stock and what is not. This helps flag reordering needs and provides better service to your customers. As inventory drops below a specific threshold which is specified as minimum quantity in goalPOS for any product, the product is added to the inventory alert records and arrangement is made as soon as possible for a restock.
Forecasting and Planning
Inventory management applications do more than stock quantity tracking and when to reorder. The sales and expenses data collected over times is used to create needed forecasting and strategic planning reports. Business owners review trends regarding which months had more sales or expenditures during specific cyclical seasons. Business owners use this data to plan for growth and order inventory intelligently to best utilize cash flow resources.
Theft Control
Theft control is very important not only against shoplifters but also when you start to take on employees. Inventory management allows you to see the number of products you have at any given time, with the associated value, so it's easy to see when something goes missing. Hopefully, goalPOS helps to minimize that happening.
Challenges of computerizing your business
Cost of Computerization
The high cost of the software or hardware needed for the computerization of a business is always a turn off for business owners. Thankfully, mobile phones if not completely has partially replaced a whole computer set needed to run an inventory software. With your smart phone and a free mobile inventory app like goalPOS, you are done with computerization your business.
Lack of Technical Know-how
As most business owners lack computer skills, having their businesses computerized is like feeding a new born baby with 'fufu', a staple food common in many countries in West. Bringing in a computer to the shop is a 'NO NO'. Now that a smart phone can replace the computer, can computerization be given a go?
Stress and Inconsistency in Computerization
Sincerely speaking, computerizing your business from scratch is very stressful and tiring especially if your business is a big one. It is so challenging that you might want to give up while in it but I bet you, you will later get used to it and enjoy the benefits. So, it is expected to feel frustrated especially when doing this for the first time. I will write a post on computerizing your business the first time.
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