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Getting your inventory under control takes time, but the benefits and values of a barcoding live inventory system will help your holidays stay merry and bright, and the cash drawer jingling long past the new year.

The retailer's best and worst day of the year is coming, and there is still time to prepare for deluge. Getting your inventory under control takes time, but the benefits and values of a barcoding live inventory system will help your holidays stay merry and bright, and the cash drawer jingling long past the new year.

It's That Time Of Year

All things pumpkin spice have invaded every store in all conceivable areas, and just past the display of skeletons and jack o'lanterns one can see the tinsel and lights of December lurking with peppermint and evergreen scented glory. It's time to bring in the inventory, look at rearranging the store, and lie awake at night worrying that you've bought too little of this, too much of that, that you have the correct staffing, and all the other delights of the season. The National Retail Federation seems to think that the early advent of pumpkin spice might even drive consumers into the stores with carols in their hearts even before the plastic skulls and bags of candies are off the shelves. After all, their own research shows that four in ten shoppers begin their holiday purchasing in October.

So Are You Ready?

Looking at your basic POS system, it may be time for a change if it's not doing everything you need it to do, or is proving too inflexible to grow with your business. However, specialty retail businesses have found that transitioning to iPad based POS for their showroom and multichannel retail needs provides flexibility and a way to showcase larger items without actually having them in the showroom itself. Employees and owners alike are pleased with the performance and ability to integrate their storefront and internet retail operations, as well with a versatile POS and a small investment in barcoding equipment. 

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The ability to take the POS to a customer anywhere in the store and allowing the customer to interact with the POS - and even see the total amount of their sale before coming to the cash wrap is a powerful sales tool all on its own. Being able to tell the customer about the product beyond the price tag makes the shopping experience more personal and interesting. 

On the business end, a versatile POS offers a business multiple channels to move and track their inventory from individual customer order histories, web orders from an eCommerce portal like Shopify, wholesale B2B transactions, and more. With the barcode capability, the inventory is live, and able to be tracked with a swipe and tap, keeping the store stocked and avoiding the backorders that can drive you right up a wall somewhere around the third week of November, when your brain is sprung on pumpkin spice lattes and pumpkin spice Oreos. You need to be ready because peppermint everything is just around the corner.

Beyond the Basics

Beyond making your sales, inventory, and accounting processes faster through integration and real time reporting, barcoding also eliminates one of the biggest drains during the holiday season - shrinkage. Small businesses with better information systems are better able to keep control of the inventory, and this means closing off avenues for shrinkage to occur whether it's through internal theft, shoplifting, vendor error, data entry mistakes, or in the case of perishables, due to spoilage. The time saves by your staff when they don't have to double count the inventory every day or reconcile the register every night means more time helping customers and filling orders. The Houston Chronicle also notes that the time and money saved by a better information system can raise profits without necessarily raising sales. 

Happy Staff!

If you think that you've been frustrated as your staff struggles with obsolete equipment, repetitive and inefficient procedures, just think how they feel! Experts at Microsoft note that with the time freed up by a POS and live inventory system, your staff can focus on customer service - sales in the front of the house and order fulfillment in the back. Going into the season with that off their minds will permit them to really shine with their other duties and can showcase the exceptional value of the POS and barcoding equipment. Despite the initial outlay, the cost of upgrading your system is more than repaid by more efficiency and less in the way of redundant procedures in order to stay on top of your inventory. 

Check that Checkbook

While you need inventory, inventory does not just represent something sitting there and taking up space. Inventory is actually a pile of your cash that you need to convert back to a liquid asset. Your inventory sitting there doing nothing is actually doing something - it's eating a hole in your bank account. It needs to be maintained, counted, and serviced by your paid staff. It also occupies a space that would be better filled with something else. Being able to discount and move it out will put that money back in your pocket, and make your end of year sales figures something to raise a glass to.

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