FusionRetail POS Software Blog

The goal: NO EXCESS INVENTORY

These days, independent retailers cannot afford one piece of excess inventory. Storage costs, insurance, pilferage, damage, depreciation, taxes and interest on loans add up to 30 percent annually to the cost of the goods you carry. Because those costs continue to rise, tight inventory control is still one of the best investments you can make – especially during the buying season.

How Do You Achieve the Ideal Inventory Control?

The essence of an inventory control program is planning your stock levels more stringently by using weeks-of-supply inventory maxims.

Maintain the Balance
Retailing is a delicate balance between merchandise and cash. Independent retailers usually must take one of two risks: commit themselves to large quantities of inventory and possibly end up with an excess, or commit to less and later find goods unavailable. Given the current economic situation, it’s probably better to go with the second risk.

If you hold inventory in proportion to your projected sales for the weeks of supply, you will have a greater share of fresh merchandise. In addition, timing the inflow of merchandise as closely as possible to the start of the selling season will, in most cases, be more profitable than taking goods far in advance, even if vendors grant dating or other price concessions. The other costs of carrying inventory will almost always wipe out whatever savings you realize by taking goods early.

Inventory control requires disciplined effort. It takes work to maintain a steady flow of fresh merchandise while keeping stock quantities proportionate to your ideal turnover rate. But if you do shape up your inventory turnover rate, it will improve your income statement, balance sheet and your bottom line. And that’s a program worth doing!

Which aspect of your restaurant appeals to a customer most? I assume you are thinking food quality and service.

While you are doing everything to maintain the highest quality of food items (both in terms of menu spread and quality of preparation), may I suggest that you can increase customer satisfaction manifold by providing quick, accurate and efficient service to your guests. This is easy to achieve with the use of an appropriate restaurant management software.

A restaurant management software helps you generate KOTs, serve orders and prepare bills in a very efficient manner, freeing the waiters to attend to the customer needs. The reduction in human error also leads to fewer complaints. A good software will provide you daily, weekly and monthly reports highlighting the popular dishes so that you can plan your inventory accordingly. This avoids the embarrassing stock outs.

The FusionRetail software offers all of the above as well as lets you see empty and occupied tables in a nice layout so that you can manage the queues of waiting customers more efficiently at busy times. The integrated POS system improves the order taking process and menu management. The ordering screen has a number of utilities and features such as the move item, table section, the food and bar modifier, the kitchen command section as well as the void items, reorder and select customer sections.

With the menu management application, you are able to record and customize restaurant menus and tariff quickly without any manual errors. This restaurant software comes with a touch screen interface that makes it easy to work with and also enhances its functionality. Training new employees is a breeze with the visual POS system. With the decrease in time spent in training, the new employee, therefore, gets initiated into the system easily and becomes productive much quicker.

Check out the complete details and ask for a no-obligation demo of the FusionRetail Software – you will love the additional profit surge in your restaurant.

Dear Retailer,

Can you relate to any of these statements?

• You’ve set up a Retail Software but still don’t “get” what it should do for you.
• You’re amazed with fellow retailer’s activities and customer traffic.
• You can see the value by exploring possibilities in a Retail Software, but simply don’t have the time.
• You know you should set up a Central Control Mechanism, but do not know how to proceed.
• You keep hearing about POS Software that do wonders but think it’s time consuming and are not clear of objectives.
• You know there are numerous unspoken functionalities and analysis possible with a Retail Software.

I’m satisfied that you’re aware of these facts.

But have you figured out how you can increase your profits and maximize control in just 10 days with FusionRetail?

If your answer is NO, then I’m glad that you’re reading this, as I am about discuss some of the profit making tips.

The difference is in the strategic implementation plan.

Some vendors will say you just install the software and you do not need to train your operators, or profits will increase automatically or cost-saving…
In other words “Miracles will happen the moment software is plugged”

But, in our Implementation Method, we go much deeper to uncover the secrets:

• How much stock you have at cost price and selling price?
• How much you need to pay to supplier in coming week?
• How well your funds are utilized?
• What is the gross margin your store is operating?
• What is selling and what is not?
• What kind of merchandize mix is right for you?
• What customer wants and are they loyal to you?
• What is your stock holding cost?

In our Implementation Program, we suggest you

• How to develop your own business-centric model.
• How to set up and implement reliable systems for managing your business.

You’ll also discover

• How to sell more of your products.
• How to rotate your funds.
• How to manage the stock of 10000+ sku.
• How to manage sales staff.
• How to keey your customers happy.

FusionRetail, a comprehensive & flexible retail software, helps you:

• Increase your number of customers
• Increase the size of the transaction per customer
• Increase the number of sales per customer
• Decide on correct merchandising mix
• Know your profitability
• Reduce manpower cost
• Reduce the erroneous data entry

You’ll also implement:

• A complete integrated system for maximum profitability.
• The ONE action you must take daily to monitor the entire show.
• Ten reports that gives you in-out of business.
• Smartest retail techniques used by retailers world-wide, to build your personal brand.

Email us for a NO OBLIGATION proposal

Speak to our Experts for a personalized solution

Similar to Relationship Marketing, another curcial aspect in Retailing is Service Marketing.

Services marketing is marketing based on relationship and value and is used to market a service. Marketing a service-base business is different from marketing a goods-base business. There are several major differences, including:

1. Lack of Ownership
2. The buyer purchases are intangible
3. The service may be based on the reputation of a single person
4. It’s more difficult to compare the quality of similar services
5. The buyer cannot return the service

Common services offered by Retailers

1. Gift Wrapping
2. Home Deliveries
3. Free Installation
4. Free Alteration
5. Including Batteries in electronic items
6. Customer friendly Returns and Exchange policies