Entering purchase orders is one of the tasks most retailers hate doing. Just thinking about working on it is already exhausting, especially since most retailers want to be on the sales floor with customers.
However, you might not realize that having all your purchase orders entered can help your business grow and even save you from possible daunting situations in the future.
First, entering purchase orders gives you reports to tell you what you have already spent in the marketplace, and can help you predict your accounts payable expenses. By entering your purchased orders, you can manage your budget, oversee how much you need to sell to pay bills, and gain profit.
Second, when the goods arrive, it enables you to get them on the floor faster because most of the data is already entered into your POS system. As you know, getting new goods on the floor faster is key to better retail sales. Customers like new goods, so we want to get them out quickly. Also, if the PO is entered in advance, a staff member can do the receiving, instead of the owner or buyer having to manually enter all the information, again speeding up the flow of new goods to the sales floor.
Aside from financial concerns, having a purchase order system helps you ensure that your vendors ship you on time. You can use the reports from your POS system to keep up with when the vendors are shipping, and ensure that they are shipping you when promised.
With all these benefits, you must definitely want to work on your purchase orders now! But if you don’t want to do it yourselves, Retail Smart Guys can do it for you!
With our team’s broad knowledge of using various POS programs, combined with our experiences working with clients internationally, you can rest assured that your purchase orders will be entered quickly, efficiently, and correctly!
Experience the benefits of entering purchase orders
And the benefits of working with Retail Smart Guys!
One of the areas that many of our retailers struggle with, is the administration of the business. They spend far too much time inside their POS system, not running reports and analyzing the business, but the basic mechanics of creating items and typing in purchase orders. Having trained people in POS systems for many years, I understand the reasons why. You want good data, you worry that someone else won’t manicure and curate the entries as well as you will. But that’s busy work and you need to focus on your customers and your inventories now.
This is why we created a Services Division – to help retailers farm out those things that are keeping them from analyzing their business. Further, we priced it very inexpensively so that everyone could afford these services. We believe by doing this, we can help tons of retailers improve their sales, their margins, their inventory flow, and their market share.
Here’s a story that illustrates what I’m talking about. I called up one of my retailers, and I said, “You seem awfully underbought over the next few months. Why aren’t you placing orders?” He told me he was “working on stuff” and would get to it. I pressed him for a minute, and he finally admitted that he was working on bank reconciliations. I said, “Well, if you don’t write some purchase orders and get more inventory, next month’s bank reconciliation will take a lot less time!” Our Services Division took over his bank recs, and some other things. He got inventory in, and he’s seeing sales increases unlike anything he’s seen before in 20 years of the business.
Don’t let the administrative tasks in your life, rule your life. Farm them out to people who do them well, so that you can be the great merchant that you want to be!
We hope you find all of this helpful as you chart your course ahead. We also hope that you’ll let us help you plan your inventory, work out your marketing, assist with any staffing issues, and generally be of service to you in any way we can!
Please contact me at the number or email above to learn more and be sure to mention that you heard about these helpful services from Board Retailers Association as a portion of the revenues will go back to BRA to help with the development of new educational opportunities and retailer resources.
– Dan Jablons, Retail Smart Guys – www.retailsmartguys.com
If you are not yet a BRA Retail Member, you can easily opt in to either Regular (no cost) or Distinguished ($100/yr.) Membership via this super simple join form