According to the National Retail Security Survey, retail companies lost a combined total of $31 billion in inventory to employee theft, shoplifting, vendor fraud, and administrative error. This massive number equates to an annual sales loss of about 1.7%. The average retail store that does $1 Million of sales per year lost about $17,000. As a small business owner, it is essential that costs such as inventory shrinkage be mitigated in every possible way, and the best way to do that is to have a trustworthy and reliable liquor Wine Point of Sale Inventory System.
A software inventory management system allows business owners to automate their inventory control, which allows them to stay focused on marketing and sales efforts, and we all know that sales are the lifeblood of every company. You can’t be wasting time trying to track down how many pieces of inventory are left and whether it’s time for a new purchase order. Let a liquor wine point of sale inventory system do that work for you.
Finally, if you currently own multiple store locations or plan to do so in the future, inventory management can get very tricky. Trying to keep prices consistent across multiple locations and making sure that inventory is never too low or too high is challenging. With a liquor wine point of sale inventory system, business owners can easily manage liquor and wine prices across multiple storefronts, while always ensuring that inventory stays strong and current.
Too many times, business owners fall under the wrong impression that cash register systems are only good for processing orders, but the true value of a quality POS system is much greater. The ability to manage inventory effectively equates directly to the bottom line, and an increased bottom line means more money in your pocket.