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More than a payment device: Using your POS system to manage inventory and the customer experience 

Blog
Date: Feb 19 2024
Read Time: 5 minutes

“We’re out of stock.” Four dreaded words no shopper wants to hear. It could be the Achilles heel of some retail stores and stop the casual shopper from becoming a loyal customer. Stockouts can happen for a few reasons like inefficient employee training or poor inventory management, and in some cases, supply chain issues. Fortunately, there are other in-store measures you can implement to keep customers from leaving empty-handed. If you’re struggling keeping up with stockouts, a tablet-based point of sale system (POS) can be your first line of defense. Find out what stockouts and overstocks could be costing your business and how to avoid them with the right POS system.  

Overstocking costs US retailers over $120 billion every year.   In 2020, the NRF estimated that companies lose 4.1% of their revenue due to out-of-stock items.   
Up to 43% of customers will go to another store to find an out-of-stock item.    Globally, stockouts cost businesses $1.2 trillion every year.   
More than a payment device   

The name point of sale seems self-explanatory, but they’re so much more than a way to accept payment from your customers. With the right integration of software, you can manage inventory, save customer information, order items to ship directly to customers, and more depending on your store needs–the possibilities can be endless. If your POS system doesn’t allow you the flexibility you need to run smoothly, it may be time for an upgrade. Here’s what to look for when choosing your perfect system.

Invest in a fully customizable POS solution   

Don’t get bogged down with a POS system that doesn’t give you the capability to configure it to your business needs. Many systems can limit the software or hardware you can use with it, leaving you with a sort of “Frankenstein” system that takes payments efficiently, but doesn’t let you set stock alerts or see inventory across multiple locations. With solutions like InVue’s NE360 Convertible Payment Center and our NE150 convertible, portable tablet stand, you can use any tablet with any operating system you choose, giving you full flexibility.

With the must-have adaptability you can use your POS to set inventory alerts to manage when an item is out of stock or low in stock. This can save employees time manually counting items before and after shifts. There are times when items can be in stock but haven’t been replenished because an employee was unaware. Nearly 40% of customers will buy a comparable item if they can’t find what they’re looking for, but there’s also a percentage of those people who will see an empty shelf and assume you don’t have something before asking if it’s perhaps just in a back stockroom.

Going mobile gives you complete visibility and control 

That clunky old register that takes up all your counter space limits how efficiently you can serve your customers and complete common tasks like checking inventory. With a compact POS tablet stand like the NE150, you can remove it from the base to go mobile and service customers wherever they are and still save the sale with personalized service. Is an item not available in your store, but is it elsewhere? You can check right on the spot and even have it ordered for delivery to the store or directly to the customer’s doorstep.

Are employees noticing empty shelves around the store? With a mobile system they can check SKUs instantly to see if something needs to be replenished or reordered. Use inventory data from your POS to configure your store layout so the most popular items are easily visible to staff and can be restocked before customers assume you just don’t have it.

The easier to use, the better

Opting for an intuitive tablet-based POS system not only simplifies training for store associates but speeds up their efficiency in helping customers and completing routine tasks. As associates become more knowledgeable in the new system, it will translate to a more personalized shopping journey that will ultimately increase sales. With comprehensive data at your fingertips, inventory management becomes a breeze, preventing both excess stock and frustrating stockouts. By embracing tablet technology within your omnichannel strategy and tapping into your associates’ knack for customer engagement, you’ll effectively minimize sales losses and likely witness a notable increase in transaction sizes.

In a nutshell, your Point of Sale (POS) system isn’t just for ringing up sales—it’s the secret weapon for keeping your shelves stocked and your operations efficient to keep your customers smiling. With customizable solutions like InVue’s NE360 Convertible Payment Center and NE150 portable tablet stand, you’ve got the power to manage inventory, prevent stockouts, and ace the customer service game. Plus, going mobile with sleek POS tablet stands means your team can help customers on the fly, keep tabs on inventory levels in real-time and still make that sale. So, say goodbye to empty shelves and lost sales opportunities and hello to happier customers—all thanks to your trusty POS system!

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