How Real Time Stock Levels Can Help Your Furniture Business
Stock is one of the most important aspects of any furniture business. And being able to manage stock levels in a fast and efficient way is just as important for any furniture retailer. Whether you are a small furniture retailer with one store or a larger retailer with ten stores or more, keeping control of your stock can be a tiresome task. Thankfully retail management software such as Ordorite Software can manage your stock levels for you, improving your operational efficiency and ultimately your financial performance. The last thing you want is to do a manual stock take and make an error, which may result in you ordering an incorrect and inaccurate amount of stock.
What was once hours of manual work by you and your management team, is now work done by your retail management software. Having a furniture POS software like Ordorite transforms your business from doing manual stock takes to providing a real time view of your stock levels. Whether you have one store or ten stores, Ordorite can give you a live real time view of stock whether it’s in your stores, on your websites, or in your warehouse. But what are the benefits of having a system that gives you real time stock levels? Some benefits are:
The ability to identify seasonality of items
With Ordorite, the system can help you notice trends in products and help you determine the seasonality of items. Looking at certain trends, you can easily spot what products are selling at a certain time of year, and make sure they sell, in order to avoid them ending up as surplus stock that may have to be sold at discounted prices just to get rid of them, to free up warehouse storage space. There is less of a chance of seasonal stock piling up.
Instantaneous live updates of stock
A management system gives you instantaneous live updates of stock, so whether a sale goes through from your website or your stores, you know exactly how much stock you have left. From this, your planning of stock is much more focused, and you know exactly what items to buy in and when and of what amount.
Improved cash flow and higher inventory turnover
Your overall cash flow is greatly improved as your amount of holding stock is reduced and your inventory space is more wisely utilised. You are now only stocking as much as required and not holding stock that is not needed, as stock left sitting on shelves or in a warehouse will depreciate in value and is more liable to be damaged.
Less manual work involved
Real time stock levels means there is less manual work involved for you and your management team. When you do a manual stock take, you are more prone to making a calculation error, costing you more money in the long run. A furniture POS software like Ordorite can give you accurate and correct quantities of stock, making the risk of calculation error greatly reduced. As well as miscalculation with manual stock taking, you are less likely to notice stock trends and to notice items not selling. With Ordorite, you can watch your trends on a weekly/monthly/yearly schedule so you know exactly what items are doing well or not, and what time of the year they are performing better etc.
Ordorite Software offers you a complete retail management software solution not only to give you a real time view of stock levels, but also to tie in every other part of your business from Point of Sale, warehouse management, purchasing and sales, CRM, analytic reports, to delivery and logistics.
To find out more about our furniture POS software, or to simply get advice on how a system like Ordorite can manage your business from end-to-end, you can schedule an online demo and consultation with us by clicking here!