How to get creative with your stock

Inventory management has always been one of the most challenging aspects of running a business - have too much and you run the risk of waste, have too little and you could disappoint customers - it’s enough to send a shiver down any business owner’s spine.

It’s all about striking the right balance, but how? Modern-day technology can provide the solution, and in this article, we’ll explain how eposmove can help you nail inventory management and get creative with your stock.

1. Order the right quantity

Sounds obvious, right? But eposmove can transform any business owner into the Goldilocks of stock management by ensuring you don’t order too much or too little, but just the right amount of stock to meet demand. 

It’s possible thanks to the smart stock management functionality built-in which tracks stock in real-time and sounds the alarm if anything is running low. Not only that, but it’ll even send automatic purchase orders to keep levels healthy at all times. 

And if you’re not on-site don’t sweat it, you can log in any time, from anywhere, on any internet-enabled device. So put your feet up (you deserve it), and rest easy in the knowledge your stock is taken care of.

2. Get creative

If for whatever reason one of your best sellers isn’t shifting one week, you can use the stock information in eposmove to create custom specials and promotions to help move any excess and reduce waste. 

So for example, if you’ve got excess fruit juices that need using up pronto, you can spin up a cocktail special and offer it at a discounted price. Don’t forget to let your customers know it’s first come first served and the offer will only last until stock runs out - you’ll create a real sense of urgency and your excess is sure to fly off the shelves. 

3. Upsell

Thanks to the portable nature of eposmove you can check stock levels tableside and upsell items you have too much of or are nearing their best before date.

For example, if you predicted more people would order your mozzarella sticks and have too many taking up precious fridge space, when it comes to taking orders you can simply ask ‘can I interest you in some mozzarella sticks to start?’. We know we couldn’t resist.

4. Wow customers

It’s not all about ordering exact quantities when it comes to effective inventory management, it’s also about having a firm grip on what you’ve already got - consumers want to feel they’re in safe and knowledgeable hands, and eposmove can help.

So, when a diner asks if one of your dishes contains nuts because they’re allergic, your eposmove will tell you what’s in each of your dishes down to the ingredient level so you can offer an accurate and speedy answer, and keep your diner safe.

5. Get real

There’s nothing worse as a consumer than reading through a menu, getting excited about a certain dish, and then being told by your waiter it’s all sold out - super disappointing and doesn’t leave a great taste in the mouth. 

But, these things happen, and it’s usually because said waiter hasn’t had time to check in with the kitchen staff during his shift to learn of the stock issue. Well, with eposmove the waiter will have this information in the palm of his hand, and be able to inform the diners before they even look at the menu of any unavailable dishes. 

Game-changing, right?

6. Data

Last but not least, eposmove provides real-time as well as historical data about how your business is performing i.e. when it’s busiest, which items are selling best and when, and so on.

This data is invaluable when it comes to inventory management - you can use it to order more or less of certain stock items to meet demand on different days and at different times. 

Not only will this allow you to ensure you always have ample stock during busy periods, but it’ll also highlight when things tend to get quiet so you can create custom offers, promotions, and discounts to increase business then. 

eposmove

You can probably tell we’re super proud of our brand new eposmove system! So now we’ll give you the low down on exactly what it’s all about.

eposmove is an integrated EPOS and card machine built into one sleek terminal you can hold in the palm of your hand. 

It allows you to take payments as well as manage your business effectively while on the move. You can download a whole heap of apps to help with business tasks like accounting, stock management, staff management, and even things like Track and Trace.

You can log into your back office from anywhere and see your business in real-time, and access every eposmove feature remotely via a clever app.

The real-time data it provides will allow you to make informed decisions on sales, stock, staff, accounts, and heaps more, effectively helping you manage your finances and operations more efficiently for success.

Next steps

Prices for eposmove start from as little as £45 per month (plus VAT), and you’ve got the option to make your EPOS even more flexible by enabling your terminal with a SIM card for an extra £4 a month.

At takepayments we tailor each of our pricing packages to suit individual businesses, so if eposmove sounds right up your street, get in touch today and our experts will come up with a plan that’s right for you. Plus:

• We won’t tie you down with a lengthy contract - ours are only 12-months long.
• We’ll provide support and training for you and your employees.
• We don’t charge sign-up or exit fees - our pricing is super transparent.
• We’re partnered with Barclaycard, one of the most trusted names in the industry.

To register your interest head here, or reach out for a chat with one of our experts on 08082390206.

Bryony Pearce

Copywriter