Stock control: the key to retail profitability
This advice is for local small business retailers, independent and specialty retailers.
Know your stock, run a better business
Stock control sits at the heart of retail success. Get it right and you have the products customers want, when they want them, at a price that works for you and for them.
Too many retailers see stock control as boring. It is the routine part of the job that gets pushed to the end of the day. That is a costly mistake. Your stock is usually the biggest investment in your business, and how you manage it decides how much of your sales you keep as profit.
That is why stock control is a core focus for us at Tower Systems. We have built it into our POS software for small business retailers for more than 40 years.
What good stock control actually does
Good stock control answers five questions every retailer faces.
Is the right stock here at the right time?
You cannot sell what you do not have. But stock that arrives months before customers want it ties up cash and takes up shelf space. The goal is to have products in store in time for shoppers to buy them, and not too long before.
What should I stop reordering?
Knowing when not to reorder is as valuable as knowing when to reorder. Slow sellers quietly drain cash. Your sales data shows which lines have run their course, so you can free up money and space for products that move.
Am I charging the right price?
Pricing is a balance. You need to consider what competitors charge and what your customers will happily pay. Accurate cost, margin and sales history for every item lets you price with confidence rather than guesswork.
Is anything being stolen?
Theft rarely announces itself. It shows up as stock that should be there but is not. Regular stocktakes and discrepancy reports help you spot losses early and see which products are at risk.
What else could this customer buy?
Every sale is a chance to sell one more item. Knowing what sells well together helps you place stock side by side, build bundles and train staff to suggest add-ons. A bigger basket from the same shopper is one of the easiest ways to lift profit.
How Tower Systems helps
Our POS software is made for independent specialty retailers. It gives you the tools to answer those five questions every day.
- Detailed stock records. Each item carries descriptions, barcodes, PLUs, supplier codes, departments, categories, RRP, freight, GST status and more.
- Minimum stock levels and reorder triggers. The system flags what needs attention before you run out, and makes it easy to see what is not selling.
- Bundles, kits and hampers. Build product groupings from individual stock items. Ideal for gift shops, garden centres and anyone selling sets.
- Product variations. Manage sizes, colours and options under a single parent item, so your catalogue stays clean and reporting stays accurate.
- Stocktaking. Run stocktakes with a range of hardware options, structured to reduce disruption and counting errors.
- Reporting. Detailed reports on stock levels, sales performance, write-offs and discrepancies give you the facts behind every buying, pricing and theft decision.
- Stock notes. Add notes to items for staff reference or customer information.
- Labels and barcodes. Print stock labels directly from the software.
- Customer invoicing. Create invoices for stock sales, charges and account payments.
For more on reducing losses, see our retail theft management tools.
The bottom line
When your stock data is accurate, better decisions follow. You buy smarter, price with confidence, catch losses sooner and sell more to each shopper. Margins hold, and you stop being surprised by empty shelves.
We have spent decades working with local retailers across many retail channels. Our stock control reflects what they told us they need, not a generic tool bolted on from somewhere else.
Want to see how it works for your type of business? Book a free demo or call our team on 1300 662 957 (NZ 0800 444 367).
