If you sell products, you need to keep track of it all. What do you sell? How much of it you sell? What's the most popular? That's inventory management. And, like most things in business, Yoco has a tool to make it easier for you.
How inventory management helps you grow
Managing your inventory properly helps you to avoid buying too much stock
Overstocking is a rookie move that can eat into your cash flow and tie-up your funds.
When you know how much stock you have at any given moment you’re able to purchase the stock you need – and only the stock you need – saving you from the sticky situation that’s spending money on extra stock that’ll only end up sitting on shelves, collecting dust. *a lone, sad trumpet plays*
Like paying your taxes and keeping an eye on your cash flow, inventory management is another aspect of doing business that, if done haphazardly, or – heaven forbid – not at all, can spell the end for your business.
When done correctly, inventory management benefits your business in several crucial ways.
You can safeguard against stock shortages
On the flip side, a strong inventory management game enables you to plan properly: you’ll know when certain items are running low and be able to order replacement stock before you run out.
Selling out may sound like the dream, but once your shelves, shop floor, or kitchen is empty, you’re unable to trade while you wait for new inventory to arrive. Not ideal.
Better efficiency = more profits
Streamlined inventory management enables you to organise stock in a way that optimises your operations.
Goods that fly off the shelves can be stored in easily-accessible areas, while once-in-a-blue-moon items can be moved to the back.
What’s more, an intuitively organised stock room enables staff to find the item they need, when they need it.
Instead of wasting time tripping over boxes, trying to find the proverbial needle in a haystack, they’re freed up to do, well, anything else that needs doing!
How the Yoco POS helps you sell
Get instant notifications
when a sale is made.
Get confirmation when
money is in your account.
Complete a daily, weekly or
monthly recon in seconds.
Good inventory management needs the right tools
It’s all well and good relying on a notebook or a spreadsheet to manage your inventory when your business is in its infancy. But as your business and stock grows, so too does the potential complications of sub-par inventory mismanagement.
Manually counting stock may have cut it when you were just starting out, but attempting to get a handle on inventory management with ye-olde clipboard and pen for anything other than a one-person operation is, to be frank, ‘n bietjie dom.
Enter: Yoco’s POS - your all-in-one inventory management solution
We’re all about getting you paid. We’re also all about making your business as easy to run as possible.
That’s why our POS combines seamless payment options with intuitive inventory management tools so you can accept payments and ensure that you have inventory to sell in the first place!