Hardware Stores need quality stock management software!
Taking control of your stock is an essential part of running any small business that handles inventory. Get this wrong and you will be impacting your profit margins and losing opportunities to grow your customer base. As a small to medium sized hardware business, you need stock control software that’s built for your industry. Foresiight’s leading business management software ProfiitPlus is customised for hardware stores with the unique features that you need.
To get the best possible result for your business, your stock management software should integrate seamlessly with both your point of sale and accounting functions. So, what does this kind of all in one business management software mean for small businesses like hardware stores?
In simple terms it means that you can more efficiently and accurately track the movement of stock through your hardware store. Efficient stock management for hardware stores highlights areas of your business for improvement in order to become more profitable. The needs of no two hardware stores are the same however, there are similar reasons why stores need to take control of their inventory. Here are 5 key reasons you should ensure that they have the right stock management software in place for your hardware stores:
1. Uncover theft
An unfortunate reality in business, where you are handling stock, is that theft will always affect your stock take numbers and cause discrepancies. Effective stock control will highlight how big of a problem this is for your business (or not). But either way you’ll want to know.
2. Discover additional stock shrinkage issues
Theft is not the only cause of lost stock. Tracking your inventory effectively will also highlight problems with damaged stock, unprocessed or missing orders and poor stock control practices. Once these issues are highlighted, action can be taken to improve processes in your store (or stores).
3. Review Product performance
The right stock management for hardware stores will enable your business to track best-selling products against those that are not performing so well. For example, those that aren’t performing well may need to be discounted to sell. Knowing your best-performing products will then inform your buying strategy to increase the profitability of your business.
4. Improve your stock ordering process
As per the last point, effective stock management will highlight any shortages you have of popular products and the right software will prompt you to order more.
5. Review your pricing strategies
Operating with the right stock management software will enable you to analyse your sales and profits and potentially revise any pricing strategies that aren’t generating maximum profit.
Ensuring that you have the best stock management for hardware stores in place is key to the success of your store (or stores) and it’s easier and more affordable than you might think.
What’s more, with ProfiitPlus you’ll benefit from functionality customised to your industry such as:
• Multiple pricing levels for customer based pricing
• Full promotion management for group and local promotions
• Printing of shelf talkers and shelf labels
• Sell items in unlimited units of measure with automatic stock control based upon preset ratios
• Track serial numbers for high ticket items
• Full barcode support, scan and create your own barcodes
• Simple touchscreen POS sales and trade counter style invoicing
Find out more about the special features of ProfiitPlus for hardware stores.
Get in touch today
Call one of our business consultants today on 1800 061 670 to find out more or use our easy online form and we’ll be in touch. Ask about our obligation FREE DEMO.