Stay on the Right Track with Inventory Tracking

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Inventory Tracking for the Digital Age

Inventory tracking is an essential part of any sales-based business. keeping track of inventory will help your business stay profitable by ensuring you have the required stock so a sales opportunity is never missed as well as keeping track of inventory loss/shrinkage and theft. With the advances in technology that are currently available, point of sale (POS) software is better equipped than ever to keep track of product inventory. Make sure your business isn’t missing out on the benefits of inventory tracking software.

Keeping Track of Your Tangible Inventory

Any tangible (physical) items such as merchandise and concession items need to be sold in conjunction with inventory tracking software. By doing so, you can better determine when you need to restock and when you are fully stocked, especially when dealing with items that expire; having too much is just as bad as having too little in some cases. POS software (such as LilYPad POS) keeps track of your items in a live environment so your inventory reports are always accurate.

Inventory Loss/Shinkage & Theft

Any business that is sales-based will encounter inventory loss/shrinkage and theft, whether it is shoplifters or employee theft. Inventory tracking can help reduce shrinkage by providing more accurate reports of the inventory you should have versus your physical inventory count.

Side Note: Physical inventory counts should be done every 6 month at minimum to reduce shrinkage and keep inventory counts as accurate as possible. Inventory tracking is an ongoing effort, so counts and system inventory updates need to be done regularly.

Many companies will also employ security staff (in house or third party) as well as CCTV security camera systems to better prevent employee theft. When used together, all of these facets can make your business secure and prevent profit loss due to shrinkage.

About LilYPad Point of Sale Software

LilYPad point of sale software can help your family entertainment center stay up-to-date with your inventory counts and better protect your business against shrinkage and theft. The software comes standard with inventory tracking for all your tangible products that will alert you when stock is low so don’t miss out on LilYPad’s feature-rich inventory tracking system.

There are many other related features and functions that are possible with LilYPad. Give us a call at 1-866-419-4043 or send an email to sales@lilypadpos.com to learn more. Demos can be as quick as 15 minutes or can be as long as you like. Be sure to check us out, you won’t be disappointed.

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