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inventory tracking system. A retail inventory software is a program that automates the tracking and managing of, well, your inventory.
Before computers, you had to manually counter everything in your warehouse, count everything in the store room of the retail store and then make sense of everything by comparing it with the stock levels that is written in your record.Essentially, that is what is being done every second in a modern retail inventory software, minus the counting of the actual stocks.
Like a few POS system examples, you do not even have to fill up anything to request for additional stocks or if you are trying to find products that are not in your store but are available elsewhere and of course, keeping track of all transactions and your entire inventory from all retail stores and even the warehouse.With most other POS systems, the program may have limitations in what it is able to do, like request for stocks, transfer of stocks from other stores or even tracking of the inventory on a regular basis. With this particular POS system, you only need to type in a request within the POS system and wait for the arrival of the stocks.Keeping track of your product is key to maximizing profits. You need to know exactly how much do you have at that particular moment to decide on what actions you are going to take later on. This means that you need to see for yourself the inventory levels, how your products are faring and which products are selling faster so you can make the necessary changes to the retail store selling program to be able to sell more.Only a few POS systems can handle tracking from multiple warehouses. You have the ability to place as many warehouses as your business has in order to track the various inventory levels from each warehouse, and this is still accessed from the same single database in order to effectively manage all products from any sources.There is also the ability of these POS system that allows you to access the POS from any of your branches to check their stocks levels, update or change promotions and manage their day to day operations while in the comfort of your office. You can even check it at the software maker's website using your master account. While a lot of other POS systems use multiple databases for their use, only a few retail POS software use only a single database and all other POS machines access this same database constantly. The reason is simplicity. The less duplicates you have to update, the less possible errors in record updating is made. This means less hassle of counterchecking all data on the database for authenticity and easier backups for security purposes.
