“Its ok, I know how much stock I have”. It’s a claim I often hear from retailers. Many use this as the main reason why the don’t need an EPOS system. They are special – they can do it all in their heads!
In my experience this is the first indicator that they are the ones that REALLY NEED a system – they are kidding themselves. I am not saying its impossible for someone to know in their head what they have got, that’s totally possible – they might have just done a stock take or, more likely, the accountant has given them a report – which probably means they know what they had 6 months ago. But when we start this type of conversation I realise that they are totally focused on the wrong things and completely miss the point of having a system.
When I’m in this situation my thoughts tend to wander as I survey their shop. There is often a trend and I ask myself – so you know how much stock you have here – how are you using that knowledge to help your business? Why have you got so much old junk? Why has the sale rail been out all season? Why are there so many boxes in the corner? Do you really sell that many bags? Why are their holes on the shelf with product missing?
We want less of this:
…..and more of this!
Knowing what stock you have is not the challenge – its knowing how you have got to where you are and how working out how you can improve it – that is a completely different issue and most of that can’t be done in you head.
Using an EPOS system allows you to do so much more than “know what you have got” . Having the system allows you to answer these questions: What did I sell the product for? Did I make a profit? What categories are making me money? Which suppliers are losing me money? What do I need to clear out? Who do I need to stop doing business with? What do I need to sell this month to hit budget? Have I made a return on my investment?
These are the kind of questions that are going to help you get more from your business and ultimately make more profit. Remember for much of retail – the devil is in the detail. Computers like detail, many golf retailers don’t! That’s why you need an EPOS system, to do the jobs that you can’t and to find the answers that you can’t just work that out in your head!