Prevent retail merchandise loss with foolproof POS software

Retailers face issues of merchandise pilferage, damage and loss. A lot of time, this loss of merchandise is not even accounted properly, due to lack of proper records, audit tools and resources. 

This can often amount to large losses and can hamper business bottom lines in the long run.

Once we are more aware about the state of product stock, then we can calculate the loss occurring in any given time period and take appropriate measures to cut the loss.

There are paid and free POS software like Loyera, which enable businesses to manage products in such a way that every piece of merchandise is accounted for.

Here’s how you can use such billing software to manage stock to prevent merchandise loss.

1. Add stock for each item

One way to prevent loss of goods is to add stock available for each item to your POS software. As you make sales, items get automatically deducted from the system. This keeps merchandisers and store managers informed about the stock available at all times.

This feature of POS software helps keep records of available stock items, in real time. This information can be tallied with the physical stock present in stores to ensure that no stock goes missing.

2. Record each sale made

Use your POS software to record each sale made. Add all product details while processing an order, so that your stock is updated in the system, in real-time. This helps keep tab on what’s in stock and what’s not.

3. Use Staff IDs to open and close registers

Staff IDs should be used to open and close cash registers. With this, you can keep a tab on the sales staff in charge at the time a particular sale is made. This helps make sales staff more accountable and alert about completing orders with precision.

4. Analysis of stock and sales

POS software offer valuable data about sales and stock during different time periods. Managers and owners of stores can analyze this data in real time to understand the state of merchandise. This helps managers keep a tab on the pulse of stock available.

So many checkpoints for stock records keep sales staff, merchandisers and managers accountable and alert about the merchandise. This cajoles action from all staff members with respect to protecting merchandise. 

Businesses can use paid or free POS software to create such stock checkpoints to keep merchandise loss in check.

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