Stock Management: Key for Profitability
Maximise sales, increase profits and offer an excellent customer experience
Accurate and effective stock management can greatly influence your attraction’s productivity and profitability.
By ensuring you have just the right amount of stock, whether that’s merchandise in the gift shop or food in the kitchen, you can reduce waste, increase sales and retain customers, all whilst maximising turnover.
Why is stock management important for visitor attractions?
Reduce admin time by up to 50% and increase online revenue from upsells by 20%.
Online and integrated stock management tools allow for vital information on stock levels and costs to be stored in one place, meaning you can access all data as and when needed.
As stock levels change across your visitor attraction, centralised stock management allows you to track how each product sells, ensuring you can keep up to date with customer demand as well as spending patterns and trends. This will allow you to make informed business decisions as your attraction can purchase appropriate stock and ensure visitors are able to purchase what they want when they want it, creating a seamless customer experience.
Not only this, but effective stock management will also eliminate time-consuming inventory processes for your employees, giving them more time to focus on other important factors such as offering your visitors a truly memorable experience.
Our VenposCloud software creates an effortless approach to stock control.
Never make requests for stock from the wrong supplier again
Supplier details including company name, multiple contacts, lead-time, supplier codes and account numbers can be added to the system.
Once a supplier is selected, the system will only allow products linked to that supplier to be added to a purchase order. The last recorded purchase price and quantity will be automatically populated, and you can easily include special instructions and delivery rates if they apply.
Avoid accidentally selling sold out stock
Purchase orders will be linked to delivery notes, recalling stock details from the respective purchase. You can amend amounts and prices, as well as remove lines if necessary in order to match the physical delivery.
The delivered stock will be added to the selected stockroom for each product line entered. Stock is then decremented automatically based on sales, both at the EPOS & online.
By being able to add, adjust, relocate, write off, return stock and record damaged products within the system, your stock levels consistently remain up to date. This means your physical and digital stockrooms will be completely synchronised, so you can ensure you never oversell stock, whether that’s in the gift shop or at your restaurant, again.
Make informed business decisions based on spending patterns
When stock begins running low, you will be notified. You can then create the relevant purchase orders from the correct supplier in order to avoid selling out of stock where possible. In doing so, you can be confident that you will always be able to provide for your customers’ wants and needs while visiting your attraction.
Not only this, but the data provided on stock levels and sales allows you to gather information on patterns and trends. For example, if you sell more hot drinks in your restaurant during the colder months, you can ensure you order more than you would during summer.
Substantially reduce admin time
The system cuts admin time in half across every stage of the stock journey, however it is also beneficial for tasks such as stocktakes. Although you may not need to do this frequently, when you do, the handheld terminal Venpos Handy allows goods to be booked in on the move and stock can be quickly counted and synchronised within the system.
Interested in our stock management module? Fill in your name and email below and download our factsheet. Alternatively, request a demo and we’re more than happy to answer any of your questions.
An industry-leading provider of online ticketing and integrated point of sale solutions, we have over 30 years experience in supporting our partners in improving and increasing value at their visitor attractions. Find out exactly how we do that in our case studies.
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