Toy stores are the stuff of dreams for children, and nobody gets into the toy store business unless they love toys. However, like most retail businesses, there are specific operational challenges and processes that need to be followed to keep a toy store running and profitable. And one of the most critical operational requirements for any toy store is inventory management, i.e. keeping track of the toys and other items that come in, those in stock, and those sold. Since you are selling toys at the end of the day, any tool that can help manage your toy stock is worth the investment, and that is where the toy store POS system comes in. This article will explain how toy shop inventory management software can benefit and other aspects of such a system.
The Ideal Toy Store POS System with Inventory Management Feature.
The billing and invoicing functionality need to be mentioned as no point-of-sale system would be complete without it. It is the primary reason why the POS was first introduced – to automate and reduce the time spent on manual bookkeeping at the checkout counter. When a customer purchases multiple items, SalesPush, the toy store POS system, can generate an itemized bill that includes all relevant taxes. This functionality alone saves the time spent by a person calculating the tax on purchased items through a calculator, so the entire checkout process is smoothed out, and the customer does not have to wait as long. Also, the system automatically deducts the stock count of the items purchased.
Inventory and Stock Management
Inventory and stock management is a business-critical feature that every toy shop inventory management software has built-in. Whenever a transaction takes place and items are sold, the modern-day POS automatically deducts the stock from the data it has for that specific item. Not to mention, Items and their stock count can be uploaded in minutes through an excel sheet or, if required, entered individually with a scanner or a direct manual entry in the system.
History of
To give you a better picture of how big of a deal a POS with inventory management features is, we will mention a bit of history. Before the advent of stock management software, two people took count of the stock that had been received; one would note down the stock details while the other provided them, and then it was rechecked for consistency. If you had a large toy store, you would have several people running these checks early morning before store opening or after store closing whenever new stock came in. You can well imagine the labor cost associated with this process, not to mention the chance of human error was comparatively greater even after so many checks. These days we take the stock inventory entries for granted thanks to modern-day POS like SalesPush.
Stock Location
The advanced POS systems of today also allow you to save location information for a specific item. This functionality is convenient when you have a large toy store with many products. Customers might ask you if you have a particular toy, and with a POS system, you can search the toy in the inventory, check its stock and let the customer know which floor and aisle it is at.
Stock and Inventory Reporting
One of the most powerful sub-features within the inventory management function of POS is the report generation ability. With a few clicks, you can get various reports such as sales and inventory sold during a specific period, low-stock merchandise, and other vital information. These reports allow the management and owner of the toy store to know where the business is headed, which products sell more, and which are slow selling. Using these details, they can decide which items need to be stocked more and set up promotions to increase the sales of slow-moving products.
In-Conclusion
This article focused on Inventory Management; however, our proprietory SalesPush offers many other features for retail businesses like toy stores. If this article has piqued your interest, we recommend reading some of our other ones that describe the features in detail. And if you would like someone to tell you about them, please get in touch with our sales representative who will be more than glad to provide you with all the information you require.