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Inventory management may seem like a pain for several retailers, one that has traditionally been addressed by lengthy Excel sheets. While these may be suitable in certain cases, most companies make use of  inventory management software  for their companies, e-commerce businesses or others. Such software helps in tracking forecasts, existing inventory levels and more on a real-time basis, even when goods storage areas are located in remote areas.  Being equipped with the right products at the right time will ensure great product sells and superb customer retention for your business. Ensure that you carry out  effective inventory management  in the following manner: 1) Understanding the need for stock control - Retailers and online vendors are often unsure whether their businesses are working efficiently or inefficiently. Specific KPIs or Key Performance Indicators are applicable to most operations. Before installing the best inventory management software, y...

This is how Sales can be increased using  Point of Sale (POS) Solutions . A POS is more than simply a tool to process transactions in a retail outlet. Technology has advanced to a great extent over the years, and now you can access more data than ever before. However, simply collecting data for the sake of  Point of Sale reports  and not really doing anything with it will be detrimental to your organization’s future. To  increase sales using POS reports , one needs to work harder than this. Utilizing Point of Sale (POS) Data One way of making use of POS data is to provide an omnichannel shopping experience to a customer, both online and offline. Shops that are using POS data to nullify the gap between online and in-person shopping is gaining competitive advantages over other vendors. And it is also not necessary to be a data scientist in order to understand the details of  Point of Sale analytics - template-based reports from a reputed POS can provide the ...