Managing your retail inventory in general can feel like a full-time job at times. When you add wholesale into the equation, it complicates things even further.
At Cheers POS, we have the answer to the equation, and it really isn’t all that mathematically complicated: a wholesale inventory management system.
Living in our all-in-one point-of-sale system, this automated inventory management system makes managing your wholesale and retail inventory a walk in the park.
Why you should consider wholesale
Before we delve into the wholesale inventory management world, let’s make sure we’re on the same page about wholesale.
If you’re not already considering opening your liquor store up to wholesale business, we’re going to tell you why it’s a great idea!
Bars and restaurants in your community are always going to need liquor suppliers. If you offer them a good deal that’s also profitable to you, they have no reason to go anywhere else.
Wholesale is not only cheaper for bars and restaurants, it’s fruitful for you as the liquor store owner. The more relationships you create with your local customers, the more business will flock to you.
The renowned wholesale inventory management system
At Cheers POS, our inventory management system lives in our all-in-one POS system. We built the automated system to save liquor store owners like us time and money.
So, how is it automated?
It updates your inventory directly from your POS. Any items that are returned, exchanged or purchased are automatically updated.
Once you have our system and you’ve scanned your products into it, you can let the system take the reins.
But wait! That’s not all—here’s what else it does:
- Advanced reporting for daily, weekly, and monthly, or yearly sales reports
- Allows a live view at markups and margins
- Gives you the ability to see your total inventory value
- Detailed inventory loss reporting and documenting
- Has built-in purchase order creation
- Includes a sophisticated keg management system
How does this help me with wholesale?
When bars and restaurants make a purchase with your store, this information will reflect in your wholesale inventory management system.
A “committed column” is created to show you the products that the bar/club/restaurant has purchased.
The “committed column” will help with 2 things:
- Prevent you from selling that purchased product on the retail side
- Indicate how much you need to purchase to bring your inventory back up to par
When you’re taking inventory for a wholesale purchase, the system will print an internal pull ticket. This ticket is your guide as you make your rounds through the store to check how many products you have on hand in comparison to how many are “committed”.
Purchase order automation
After you assess inventory, you’ll know what you need to order to accommodate your wholesale and retail sides.
Our purchase order automation feature makes this effortless. When you create a purchase order, it moves directly into the invoicing system in which you can reconcile or adjust.
The system also includes detailed reporting, allowing you to see how well a product has done and any other relevant sales data before ordering.
Once product is purchased, this new data will be reflected in your invoices and reporting, inventory management, and wholesale management systems! You will have everything you need in our POS system
Invoicing and reporting
Your wholesale business will be automatically integrated within the invoicing and reporting system.
The following are just a handful of what this system offers:
- Time-stamped employee log reports
- Built-in category sales reports and on-premise sales reports
- Detailed register logs
- Inventory reports
- Item movement reports
- Automatic integration of purchase orders
The best part is retail and wholesale will be reported separately, allowing you to effectively manage both sides!
Invest in your liquor store with wholesale inventory management
Wholesale business is a worthwhile investment, both financially and interpersonally. But, in order to get the most out of your investment, you’ll need a wholesale inventory management plan of action.
That plan of action? The Cheers POS all-in-one point-of-sale system. You can count on all the features to work together harmoniously and make running your business smoother.
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