If you are running a retail store, you will know that there are many different operations that has to be managed. A retail unit is not large enough to justify a hire of accountants, inventory clerks, payroll departments or a purchase and contracts department.
Yet one needs to prepare payroll every month, create statutory accounts statements and manage inventory and purchase and contracts. Retail units often make do with whatever human resources they can hire to carry out all the functions or outsource certain functions. However at the end of the day they suffer from inadequate controls on the activities of the retail unit and in the process invite risks of facing unwarranted situations leading to loss of revenue or profit.
Store Management System Software
Considering the situation that retail units have to face regarding the various functions that their human resources have to fulfill it would have struck any one that Information Technology should be used to make life easy for the employees and management of a Retail Unit. If one is looking forward to acquiring store management software one should look for software that is modular in nature, covers all functions and has proven track record.
Here are some desirable that add value along with other standard functions.
Return Merchandize Authorization: Often products bought by a customer has to be taken back as the retailer or the manufacturer has a agreed to return in case of defect or otherwise. Most Store Management System Software cannot handle such transactions, and the process is done offline. These transactions sometimes infringe the laws of the land if not reflected in account books. Hence, store management software should have the provision to record such transactions.
Return To Vendor: Products are often returned to Vendor based upon the contractual obligations. An adjustment is made in the net payable to reflect the return. The software should have the ability to carry out such transaction. There can be a whole series of transactions of products going back and forth between the customer and the manufacturer.
Customer Loyalty Schemes: Many Retail Units indulge in Customer Loyalty Schemes to ensure the future return of the customer to the Retail Unit or Chain. These schemes may be self sponsored or by a third party marketer. The Store Management Software should have a provision to incorporate such schemes into the Billing process.
The best store management software should be the one that has the flexibility to implement any changes that may be required in the future. There are a few ERP based store management software in the market. One should first make an evaluation based on the ability of the software to carry out the functions you want to implement rather than the functions the software has the capability to be implemented.
All you need to know about Inventory Management Software
To know about inventory management, you need to be familiar with the concept of inventory. Any business will have a component called inventory which is, in layman terms, a list of the products to be sold.
An Insight into Point of Sales in Retail Management
Point of sales is pivotal to any business. Most businesses invest a significant amount of time and resources into ensuring that their Point of Sales is on point. In today’s world, there are an extravagant number of businesses.
Inventory Management Software Along with Apparel Software, the Easiest Option
Inventory management came about when the task of managing inventories became too tedious a task for manufacturers and retailers of products. It is the science of specifying details about the percentage of stocked goods and overseeing and controlling the ordering, storage and use of the components that a company will need for its product manufacture.
