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—  INVENTORY MANAGEMENT —

"Retailers are in the business of turning inventory. Creating profit requires acting on the winners and the losers.” ~ Marc Weiss, Management One

 

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Inventory management is key for profitability in retail.

Disappointing customers by missing trends or not meeting their needs puts retailers in a serious deficit. With ecommerce changing customer expectations, we’ve moved unequivocally toward an age of instant gratification that leaves very little margin for error. Consumers have high expectations, they demand inventory visibility in real-time across all channels and want to shop seamlessly whenever they want. Independent retailers are understandably worried, left wondering how to compete.

Shifting to a proactive mindset.

Yet, they can! And, the new breed of retailer is leading the way by not by sticking to the status quo. More than ever, retailers have access to technology that allows them to improve efficiency, productivity and most importantly agility. Now, retailers can understand customer preferences at a granular level — what they love, why they buy, when they buy, what motivates them and so on. By using POS software as the engine and harnessing data to provide valuable insight, you can begin to make decisions that are based on fact, becoming more agile, creative and strategic in the process. 

(Oh before we move on.... Check out this RetailTips website all about retail inventory management!)


Data is king when it comes to survival in today’s retail climate. And when it comes to inventory, it can be the difference between profitability and survival. 


Tips for Inventory Success


• Use POS data to drive all decisions

• Shorten lead times for new product

• Understand customer preferences

• Search constantly for fresh product

• Be agile and react to trends quickly

Key Questions to Ask


          • How much did I sell?

          • How much money did I make?

          • What was my margin?

         • How can I move what's left?

         • What did I learn?

5 Essential POS Features


  • Partial & full inventory counts

  • Discrepancy reporting

  • Custom fields & custom reporting

  • Inventory transfers

  • Purchasing & receiving

 

Want to see Springboard's Inventory features in action? 
Share a bit about your business and watch this quick demo whenever it's convenient.

Everything you need to drive your retail business.

Springboard Retail POS Orders

Order Management

Distributed order management allows you to optimize inventory across all channels in real-time, reaching customers where they shop.

Springboard Retail POS inventory

Inventory Management

Transfers. Cycle counts. Point in time inventory values. Know exactly how much you own across stores and channels in real time.

Springboard Retail POS CRM

Customer Management

Drive sales with customer data. Provide insight to your sales team empowering them to build relationships and provide exceptional customer service.

Springboard Retail POS Purchasing

Purchasing & Receiving

Build customized purchase orders that suit your business and use key features to enforce accuracy when shipments are received.

Springboard Retail POS Reporting

Powerful Reporting

Use data to enhance productivity. Dashboard shows real time KPIs with comps; easily generate detailed reports with any custom SmartField.

Springboard Retail POS Reporting

Designed for Growth

Whether you are expanding to multiple stores or adding ecommerce, Springboard Retail POS was designed to support omnichannel retail.