Hardware store software that is customised to your industry will enable you to streamline and simplify your hardware store business. Here are 8 reasons why your business needs hardware store software.
Getting inventory (or stock) levels right is critical to the success of hardware stores. You don’t want to buy and store stock that doesn’t sell because this significantly impacts the bottom line. Getting this wrong too many times can be difficult to recover from.
Retail business management software provides automated stock control to avoid stock overs and profit loss.
For bricks and mortar hardware stores, you need to consider not only the purchase and storage of inventory but the staff levels needed to maintain to keep stock moving. The additional expense of paying for staff to move stock that doesn’t sell further impacts your bottom line.
- Time saver
Many start-up hardware stores track stock manually. Not only does this result in inaccuracies but it is also time-consuming which results in more (avoidable) human resource expense. Hardware store software enables automated tracking so there is no requirement for manual data entry, freeing up your staff for more important jobs.
- Automated ordering
Intelligent hardware store software will automate your ordering process and reorder stock items when they fall below a pre-set level. This can be programed to allow for seasonal fluctuation such as busier holiday periods based on your historical sales data.
Customised hardware store software will enable smart forecasting which means that it will predict what stock you need for a given period and where you need it if you have multiple sites or an e-commerce channel. This is used to inform your automated ordering discussed in reason 4.
Control your entire hardware store business through one centralised database that you can manage from anywhere you have an internet connection. This database is your single source of truth across all the multiple teams and locations in your hardware store business.
The right software will allow you to set your pricing however you need it. You may price stock items differently based on whether they are sold online or in-store or even based on retail store location or customer segment. You can apply discounts on certain products and even for certain customers such as trade customers vs retail customers.
Your point-of-sale terminals need to be integrated with your inventory management system and vice versa. So that when you sell a stock item, it will automatically be removed as an item in your inventory list and your automated ordering knows to replenish the item.
At Foresiight, our flagship software ProfiitPlus has been customised to meet the unique needs of the hardware store industry. We know your industry and we understand the challenges that you face.
If you’re researching hardware store software, then give the Foresiight team a call today and ask us about ProfiitPlus. ProfiitPlus has been supporting Australian hardware stores for over 30 years.
ProfiitPlus works for our clients to:
- Automate operations
- Free up human resources
- Integrate POS, stock and accounts
- Provide a better experience for your customers
- Enable stock control
- Integrate multiple store locations
- Integrate bricks and mortar and online stores
- Increase your profits
Find out more about ProfiitPlus for hardware stores. Visit our hardware page, contact us online or call us on 1800 061 670 and request a free demo.