ROI Analysis: Part 2
posted on Wednesday, August 11, 2004by Kyle Ritter
Our Prefered Point-of-Sale Solutions Provider |
In Part 2, we will go further in depth with our analysis.
Inventory Count – Labor
Reduce the labor cost associated with the inventory counting process. Through have a POS automation solution a business will be able to reduce the labor costs associated with counting inventory by an average of 32%. Every single transaction is automatically logged, allowing for immediate access into inventory levels of every product in stock. The figures in the graph were based upon an $8 per hour wage, and would obviously be higher if a manager or owner is performing the task.
Reduce Shrinkage/Theft
Utilize point of sale to reduce the amount of theft and shrinkage your store experiences
Reducing shrinkage is always a concern for a retail store. While the retail automation solution does not act as a security device, it has been proven to reduce shrinkage by:
- Immediate access to inventory levels versus quick counts of floor inventory.
- Reports showing shortages in inventory.
- Intimidation factor of employee theft due to computerization of the store.
- Employees able to watch the storefront closer due to lower time requirements in checking customers out at the each register.
- View shrinkage history reports to determine which items need to be closely monitored.
- Know exactly which employee was at each register in order to track responsibility.
- Directly integrate with video security system to record activity of POS terminal and floor activity
Restocking Expenses
Reduce the amount of time associated with purchase orders and re-stocking of inventory.
One of the ongoing challenges of any retail business is to deal with purchasing product. This can be a very time consuming process and is almost always completed by the most valuable people in the business; owners and manager. Through the POS solution, purchasing new product becomes easier by:
- Automatic re-order levels set with each item.
- Automatic generation of PO's based upon multiple different criteria.
- Easily manage suppliers and know who is giving the best pricing most recently, as well as historically.
- Save PO's and edit them later as well as re-use them for future purchasing.
- Take the hassle out of the manual purchasing process and focus on the key activities that drive the success of the business.
ROI Analysis: Part 1
ROI Analysis: Part 2
ROI Analysis: Part 3
ROI Analysis: Part 4
<< Back to the Point of Sale Article Archive
