Stock management is a very tough and tiresome task any retailer wants to do. So, for this reason, they used to do this rarely. But the hard truth is that it has to be done daily.
It will take a whole day and will engage most of the retail employees. But you will be shocked to know that this inventory/stock management is possible with a slight movement of your fingers and even only a single person can do this.
Problems Faced by Retailers
I have already mentioned that inventory management is a very tedious task and will give you huge pain and problems if not done correctly.
Some of the problems faced by retailers when manual inventory management is done incorrectly:
- There is a great probability that your customers will face frequent lapse of stocks and can even get broken or damaged products on the racks of the store.
- Even the customers will become clueless about what exactly to purchase and they have to fully depend upon the retail suppliers for that.
- You will face a lot of miscalculation during the counting of products as you don’t have the idea about how many real stocks exist.
- You will not have any control over the losses you have faced.
- Even you don’t have control over any kind of theft of products and cheating in your store. This will produce major losses to your retail business.
As the retail employees perform infrequent checking of the inventories, so they are prone to a high level of thefts and cheating. Even due to the lack of fear or responsibility they don’t keep records of that also.
- They will keep false records of the goods supplied to the store.
- False or incomplete billing done by retail employees.
- You won’t be able to track the number of profits or losses you acquire properly.
- It will be a huge embarrassment for you to track the thefts in your store properly with CCTV equipment.
- You will shock to know that this is a major problem for most of the retailers. For this reason, it becomes a huge headache for all of these retailers to compete in this fierce retail market.
It is a well-known fact that the CCTV footage are not a great solution for all your problems. Even there are thieves and scammers who can outwit CCTV surveillance and still steal your products in front of your nose.
What is The Reason behind Most of The Retailers Dislike Stock/Inventory Management?
Although retailers know that what harm will cause due to incorrect and manual counting of inventories but still they hate it.
Some of the reasons behind it are:
- There is a misunderstanding that counting of stocks requires a huge amount of mental & physical labor. They have to run from one rack to another and even counter to check whether the billing is done properly or not.
- These types of manual stock calculations create an environment of constant mental pressure and fear of job termination if not done properly.
- Even business owners don’t like to do these inventory calculations manually because it can give them undesired results and cause trouble in sales.
- Retail owners do not care about customer satisfaction if customers don’t like to buy any products.
So, What is the Ultimate Solution?
Technology has a solution for everything. Even all the problems faced by retail can also be solved with the help of technology.
Chronito Technologies has an expert team of professionals who are well acquainted with the day to day problems retailers face because of the false product management practices they do. Technology has medicine for all of these problems.
Chronito Technologies has come up with great Point of Sale software well known in the market as ChronitoPOS. With this POS software, you can easily do all the tedious and time-consuming stock/inventory management processes easily.
Our ChronitoPOS can calculate and accurately keep a record of all the inventories and stocks & even keep a record of all the billing processes daily.
Some Final Words
Most of the retailers accept that stock management is a huge task and it can be problematic if you try to do it manually. But today ChronitoPOS like Point of Sale software can easily handle this.
Those who are interested to buy ChronitoPOS for total inventory & stock management can visit here.
About The Author
Miss Amrita Singh is a restaurant marketing expert who has an experience of more than 10 years in content creation on the topics of retail technologies. She is an expert content writer for Chronito Technologies, a famous retail POS development company in Kolkata, India.