Inventory Management is a process of keeping up-to-date with the business stock to check the flow of goods. You can track the items which are in high demand and the ones that are relatively less-selling. Users can stock up on the items that are moving out fast. This helps in the effective management of the business. A point-of-sale (POS) system is essential in managing one’s inventory and a POS terminal is used as a cash register, thus making perpetual inventory control possible. Asterisk is an all-in-one business management software that is used by businesses to manage end-to-end functionality such as inventory, CRM, POS, sales, manufacturing, invoicing, OSH, e-commerce, and others.
Advantages of POS Systems
A POS system is intended at generating a profit and increasing sales. Some of the key advantages of point of sale are:
- It simplifies the accounting system to easily gauge the profit or loss margin.
- This reduces the need for keeping a track on the inventory, which helps businesses to focus exclusively on sales.
- The POS system manages multiple branches of the same business. Owners need not be physically present to check the inventories of individual branches, thus saving time.
- It maintains employee efficiency.
- This also helps in maintaining the stability of prices while dealing with multiple stores.
POS System in Asterisk Inventory
The POS system in Asterisk Inventory is aimed at maximizing profit. It is advanced to suit the changing business patterns. Some of the key points with regards to POS system in Asterisk Inventory are:
- Touch Screen Modification
Any software today thrives on its mobile outreach. The faster the connectivity, the better is the success of the business. The POS system of the Asterisk Inventory is designed to be compatible with mobile devices, including Android, iPhone, iPad and other smartphones. This is done to increase sales.
- No Network Issues
Garnering sales and calculating the volume of sales generated is a critical aspect of any business. To eliminate the chances of missing out on sales records, the software comes equipped with a feature that lets you save all the sales records on your device and upload it to the server when the network strength is high.
- Product Database
In order to keep a stock on all the products in the godown, manual labour is not the way forward as it consumes a lot of time and the chances of data manipulation or errors are significantly high. To tide over this problem, a comprehensive product database creation is mandatory which is available in this software. You can analyze various reports such as warehouse balance from the database for efficient inventory management.
- Tax Management
In any business, tax management is an important task. Asterisk Inventory POS is integrated with a VAT bonus system for calculating the VAT on the goods levied and print VAT bonus codes on POS receipts. One can also calculate capital gains tax that can immediately print the tax reports.
- Customer Support
The interesting thing about this software is its multi-customer support. If there is an unwanted delay for a particular customer, the software automatically registers the next customer’s purchase. This saves a lot of time. The software’s POS system allows users to award bonus points and attractive discounts to regular customers through a card system to retain them.
- Cash Drawer
Users can manage cash drawer without any hassles. One simply needs to enter the cash amount and press the ‘Next’ button. The receipt gets printed and the cash drawer gets opened automatically.
Inventory Management System
Asterisk Inventory POS software is equipped with a powerful stock management attribute that helps in managing the flow of goods. Some of the key features are:
- Detailed Stock Database
A detailed stock database helps in managing the movement of goods and keeping a tab on the items that are in high demand and the ones that are not selling fast.
- Everything related to stock in one place
The software allows users to manage any type of goods – be it supply, saving or service. It also monitors real-time stock balance and records price change history. Users can also register supplier information and connect them with suitable products, after setting up the purchase price through the software. You can set up sales income, cost of sales and inventory entry automatically.
- Automatic Income and Expense Document
Inventory income and expense document are automatically created right after purchase and sales orders approvals. After order delivery or after receiving the stock, expense entry and stock income are automatically created through the software.
- Automatic Purchase and Reordering
Users can create stock reorder or purchase order automatically after making the reordering rule. This helps in monitoring the stock limit and track the time when a refilling needs to be done. Replenishment order is automatically created by users based on the expended amount.
- Stock Monitoring, Moving and Keeping
Users can monitor the stock income, serial balance and manage the expiry date. Everything related to stock is laid out in one place so that there are no hassles. After the selection of a warehouse position, the present amount of stock is filled up based on the current position. Stock overload or the lack of it is automatically calculated and the entry is created only after entering the real amount into the system.
- All Types of Stock Analysis
Users can analyze inventory for sales or supply, and track records, purchase history, etc., for comprehensive inventory management. You can also see the volume of sales on different devices and monitor the same in graphical, chart or tabular fashion.
The stock keeping mobile app of Asterisk Inventory POS makes the task smarter and easier. The app can scan the products using a barcode reader, saves information and sends them to the Od-ERP server. The biggest benefit of the Asterisk Inventory POS system is that both the employees and the management can focus more on the customer service aspect of the business and less on inventory and receipt generation. The POS system enables the management to gather purchase data for developing models for the future and generating detailed reports.