PR Stock PRO: Universal Inventory Management for Retail
Stock taking is an important process for retailers to ensure accurate inventory management, minimise losses, and maintain efficient operations. It allows you to keep accurate track of the physical stock you have, what’s been sold, and what hasn’t. It is about comparing the physical stock to what the report says and finding any discrepancies.
Positive Retail have developed PR Stock Pro, a universal inventory management app for retailers.
PR Stock Pro is a user-friendly Android application designed for comprehensive inventory management, offering clear navigation and extensive functionality to handle in-store inventory efficiently.
What distinguishes PR Stock Pro is its universal compatibility, allowing the app to work seamlessly with 90% of point-of-sale and inventory management systems.
Key features and Functionalities of PR Stock Pro
Price Check: Conduct quick price checks by scanning barcodes. Price checks will display price, sales price, SKU, and quantity in stock.
Stocktake: Efficiently conduct stock takes by creating, viewing, and editing counts, bin locations and quantities. Retailers can switch between quick scan and quantity scan options. Scan items not in the product file for later documentation and addition to the current system.
Count Review: View detailed stock take information including total counts, counts by bin location, and count date and time for accurate stock management.
Transfer orders: Create transfer orders with ease, enabling efficient transfer of stock between locations. Options to add multiple transfers simultaneously and send orders directly to PC.
Purchase Orders: Generate and receive purchase order is effortlessly, with the ability to scan items, specify quantities, and include supplier details. Export purchase order data for seamless processing.
Seamless Import of Item Data: Easily import lookup files from either internal storage or PC. This can be automated to update the app on opening.
Why is Inventory Management Important?
Inventory management and stock-taking is important for many reasons:
- Accuracy of Inventory Records: Stock taking procedures are important for the accuracy of inventory records. It ensures that the inventory records match the actual stock levels, preventing discrepancies that can lead to stock-outs or over-stock situations.
- Financial Reporting: Stock takes are critical for precise financial reporting and helps in assessing the value of stock which is essential for accounting and taxation purposes. It aids in identifying theft, shrinkage, or losses due to damage, enabling timely interventions of stricter security methods.
- Customer Satisfaction: Keeping track of your stock can enhance customer satisfaction, by reducing the risk of stockouts, ensuring that items are always available., and enhances the shopping experience by ensuring that customers can find the products that they need.
- Cost Control: By managing your stock, you can identify obsolete or slow-moving stock, enabling better stock rotation and discount strategies. It assists in controlling holding costs by maintaining optimal inventory levels.
Want some extra inventory management tips, download our white paper below
Optimising Stocktake for SME Retailers
