How to manage inventory with a POS system

A modern POS system does much more than process payments. It helps with accounting, staff management, and, perhaps most importantly, automatically keeps track of your stock.

A POS system with inventory management records every sale, processes payments, and tracks stock in real time. When an item is running low, you get an instant notification. This way, you reorder on time and never face surprises.

In this blog, you’ll learn how a POS system with inventory management works, what benefits it offers, and how Twelve provides the best solution for your business.

What is a POS system with inventory management?

While in the past you had to manually update inventory lists, everything now happens automatically. A POS system with inventory management is essentially a traditional POS combined with smart software that:

• Records sales transactions
• Automatically updates inventory
• Shows how much you have of each product
• Sends real-time notifications for low stock

Inventory management is an optional module within the POS system. You choose it when you want to work more efficiently and avoid manual errors. As soon as a customer pays, the system automatically updates the inventory. This happens instantly, giving you always up-to-date information.

What are the benefits of a POS system with inventory management?

A POS system with inventory management brings major advantages. Some of these include:

Accurate inventory management
‍By tracking product levels, the system reduces shortages and overstock. This leads to more efficient inventory management and cost savings by minimizing waste.
‍

Time savings
‍Manually updating inventory is time-consuming and prone to errors. A POS system automates this, freeing your staff to focus on other important tasks like sales and customer service.
‍

Sales pattern analysis
‍The system provides detailed reports and analyses of sales data. This helps identify popular products, seasonal trends, and adjust inventory orders if needed.
‍

Order list export
‍Inventory management integration allows you to easily export order lists that you can send directly to suppliers.
‍
In short, a POS system with inventory management automates manual processes, improves accuracy, and optimizes sales performance.

How to track and manage inventory with Twelve

Integrating inventory management into your POS system gives you real-time visibility of inventory levels from anywhere.

Using Twelve’s user-friendly management interface, you get a complete overview. Additional features include managing multiple locations and inventory. Other key insights include:
‍

Product registration
‍All products you sell are registered in the system, including name, price, description, and other details.
‍

Reports and analyses
‍The management interface provides extensive reports and analyses to help you understand sales performance and make strategic decisions.
‍

Multi-location management
‍If you have multiple points of sale, you can manage all sales and inventory information from one central dashboard.
‍

User management
‍Assign different access rights to staff members with various roles.
‍

Integrations
‍Twelve’s POS system integrates with other systems like accounting software or CRM systems.

Why does it matter

A POS system with inventory management is truly valuable for your organization. It saves time compared to manually keeping track of your inventory. Manual errors can lead to ordering the wrong products or running out of items you want to sell. With a POS system that tracks inventory, you also get clear insights into which products sell well and which are less popular.

This is especially useful for knowing which drinks are popular among members. You can then make sure these items are always well-stocked.

With accurate management of your inventory and orders, you can meet the needs of your guests and visitors faster and more efficiently, which creates a better guest experience. And of course, a satisfied guest is important for any organization!

Which industries benefit most from it?

A POS system with inventory management is suitable for any location that sells products, so essentially all industries. Examples include sport clubs, hospitality, catering, venues, festivals, stadiums, community centers, and events.

In all these industries, customers, guests, or members come to make purchases. Inventory changes constantly, so it’s very useful to have inventory management automatically updated by the system.

In hospitality, for example, you deal with many different (perishable) products and want to always offer what’s on the menu. A POS system with inventory management for your hospitality location perfectly tracks inventory levels for each product, so you can respond accordingly.

Want to learn more?

Twelve has extensive experience providing POS systems with inventory management to a variety of organizations across multiple industries. We understand that every organization is different and has its own needs and requirements. That’s why we offer several packages to choose from when purchasing our solutions. Our POS system is user-friendly, clear, and give you real-time insight into your reports from a single central location.

If you’re looking for a POS system with inventory management or want to discuss your options with one of our specialists, contact us or join an online POS tour!