Six ways to manage your inventory

Your choice of point of sale can bring your store to the next level. With inventory at the very core of your entire operation and at the very core of Lightspeed’s EPOS software, there’s no better match for a retailer concerned with managing their inventory. With item tags, product matrices and work orders, with Lightspeed, you can strengthen that core, ensuring this aspect of your business runs smoothly.

What can it help you do?

1. Become more strategic when it comes to inventory

The logic is simple: you need to know what your best-sellers are so you can sell more of them. With Lightspeed, you can identify which items are gathering dust on your shelves so they don’t stay in your back office forever. Tracking your inventory, sales year over year or season over season, unit costs, margins and everything else pertaining to your stock, will help guide your decisions so you don’t waste resources on items that don’t move.

“Lightspeed is making us more productive by allowing us to organise ourselves more effectively. Stock ordering and control is something we didn’t have before, and it’s changed our business.”
Life on a bike

2. Take your inventory with you, out of store

As you hit trade shows or get on the road, with a cloud-based EPOS system you can take your inventory data with you. When customers ask you about whether this or that item is in stock, you can reply confidently because the answers to their questions will be in your hands.

“I enjoy being able to log in from wherever I am, on my computer or on my phone. It really helps for inventory management.”

3. Build purchase orders and order stock

After you’ve created a PO, you can fax, email, or, if working with a vendor that’s integrated with Lightspeed, submit it directly over the web. You can order stock directly from the system; Lightspeed has integrated catalogs from some of the biggest vendors in your industry. Simply click and receive.

Not only that, but by setting reorder points in the system, you can automatically fill in the items that are running low when building your next purchase order.

Guy on laptop

4. Find items quickly for customers in-store

Organize your stock into categories by type and tag items with similar attributes. By using tags and categories to narrow down your inventory search, customers will get the items they’re looking for faster.

5. Manage stock across several locations

Whether you run a single store or several locations, the system will connect your inventory across all stores. With Lightspeed, you only need to check in one centralized system to know what’s happening across your entire operation.

6. Manage inventory in your online store

Lightspeed’s web store is the only e-commerce inventory management system designed specifically for brick-and-mortar retailers who want to start selling online. Sync inventory and customers between in-store and online for a 360-degree view of your entire business.

“Lightspeed significantly cuts down the time it takes to do a stock count. Previously it would take us a week to count through the shirts. Now it takes us an hour.”
Mr. Start