According to the latest Global Retail Theft Barometer study, the global retail industry lost more than $128 billion last year due to the inventory theft, frauds and errors. On average, this means a loss of 1.29% of total retail sales. Another considerable sum of money is every year spent to prevent this, and may not always be effective.
Installing cameras or detectors inside the store is not cheap and hardly ever solves the problem entirely. That is because when it comes to inventory theft, according to the study, employees easily top shoplifters. So what can retailer do to prevent employee theft and stop losing his money? The only reliable method is constant inventory monitoring.
However, this is much easier said than done. Inventory control must be thorough, frequent and perfectly timed to be effective. How to manage without closing the store and losing additional money? The answer is automatic inventory control conducted directly at the point of sale.
Retail management system Posterita is a smooth and efficient way to track your inventory by the web based POS without interfering with the daily routine of your retail.
How does it work? Your staff will be asked every day to count random samples of your inventory and input the sum verified by your shop manager into the system. Posterita will then do the hard part: it compares the theoretical quantity of inventory with the real quantity and decides if there is any mismatch that requires your attention. Your POS will then automatically inform the shop manager and allow him to take an immediate action to solve the case and prevent inventory theft in the future.
Posterita is an award-winning web based retail POS system that was created to cater to all of the retailer needs. It is smartly designed and your employees will surely appreciate its simplicity and clarity. There´s no need to worry that everyday partial counting of inventory will require too much time and energy from your employees. They can conduct it whenever they have some spare time. Additionally, once you are monitoring inventory continually there´s no need to organize a thorough and exhaustive monthly or yearly stocktaking anymore.
Posterita saves your time, energy and money by allowing you to prevent employee theft effectively and respond decisively. Just by adopting this software you take the first and most important step towards reducing the shrink rate in your retail.