• Efficient and effective inventory management is critical to your business because it helps you minimize the holding costs by knowing when to replenish them and when to add new items to inventory. Needless to say, negligent or inappropriate management of inventory can lead to loss of revenue from unmet sales targets because of failure to replenish the pieces when necessary or loss of more money for overstocking leading to unsold inventory.
• It is very important to label and organizing your inventory by assigning proper SKU numbers, Barcodes or classify them by Style, Type of piece or Category.
• Managing your store's inventory can be a tedious task, but it can be simplified if the POS system is integrated with your website. If you have an integrated POS system, all your store's inventory, orders etc are synced with your website.
• Effective management of inventory helps in reducing costs which further keeps accounts and finances in check.
• Your POS system can help you forecast demand and you can accordingly fulfill your customers' demand. Decide on trends and variables and their effect on an increase or decrease in sales, such as any promotions or outlying marketing activity that may have affected the baseline demand.

Below are some benefits of Inventory Management:

• It improves the accuracy of inventory and order tracking
• Reduce the storage & waste cost
• Forecast the market trend and demand
• Offer discounts that benefit you and your customers
• Eliminate human errors