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POS System Retail Management software Software

5 important features of Retail Management System

Be it a general store in a corner of the lane or branded supermarket, every retail store needs a retail management system. As, it eases the management of sales and inventory. A store has a huge number of products in many quantities.  It automates a complete list of each product and the quantity.  The system records every sale. Before opting for a point of sale, POS systems below are the five important features to look for.

1. Rack Management

One of the most required features in the current days. Every product gets a specific rack allotted to place the product. The system should also be able to indicate when there is low stock. Further, this helps in stocking up the product. It should also have the list of suppliers for the corresponding product. Thus the outlet would never be out of stock for any product.

2. Maintain customer details

The system needs to save the records of each customer. However, name and phone number is compulsory but address may be optional. As this enables the owner to check the customer transactions. Also if required can allot any credits, points or special discounts. Moreover, it enables them to send intimation to customers during sales promotions.

3. Multi payment options

Payment of the items purchased happens through various means. It may be by cash, online payment, credit or debit card, ewallet, etc,. The retail management system should be flexible to accept all kinds of payments. This is an important measure for customer satisfaction.

4. Inventory Management System

Inventory is maintaining records. Maintains a complete data of products and quantity. Also tracks list of suppliers along with purchase orders. There exists many quantities of each product. A system must manage the whole data online. Assigning the barcode to each product and updating the same in the system is a very important task of this retail management system.

5. Manage Promotions

As desired, there would be discounts or promotional prices on various products. The system has to reflect the same during purchase of the product. During billing discounts are visible against the product. Also some loyalty points allotted to customers need adjustment with the final bill. So, the system should be flexible to do all such add ons.

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