Reports

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Reports

Last check on your stock levels

POS SOFTWARE

Now is your last chance to get your stock levels right.

Fortunately, with our point of sale software, you have both real-time reporting and low-stock alerts to warn you when the stock is running low. This is to keep your stock levels at your ideal level.

However, running out of stock now can severely impact your bottom line and do untold damage to your customers’ view on you.

 

Good news:

We have a unique report which gives you an immediate way of checking your current situation.

In Cash register report, call up the GMROI (see the selection highlighted) in your point of sale software in the reports here.

You can select the list of options you want, and I suggest you go over these options later.

I recommend doing this by departments for a first run.

Then you will get a report like this.

As you can see the items are all listed.

Let’s look at it in detail:

What we are looking for is items with low stock on hand figures, decent sales, and reasonable ROI% figures, ROI% is the return on investment, it is one of the best ways to determine how valuable your stock items are to your business. It is calculated by the (unit sold) x (Profit)/ (Average stock cost) and you need about 3.2 in industry, but as you can see here, there are many items above and below it.

Now it is up to you

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Comparisons with previous sales figures

POS SOFTWARE

Our point of sale software reporting feature allows you to dive into your sales so you can get a better understanding of your business.

There is a common problem that we face almost every month is that some months have four Saturdays and some five Saturdays. This often makes it hard to budget. It also makes it hard to compare periods for sales analysis. The other problem is that making sales comparisons meaningful between periods is that different periods are different September month is very different than December.

That is why our POS software when it makes comparisons asks you what period do you want to compare to the nominated period you request. If you look at the above example, you can see that I put in some bizarre dates to show what you can decide what works for you. 

Many of the commonly used dates such as Last Fiscal Year, Last Year, Last Quarter, Last Month, etc. are already programmed in for you.

Some that are commonly used are the moving or rolling time frames such as the last 30 days and compare this result to the same period the previous year for 30 days. Another common request available is to examine how the current YTD versus the last year to this point.

For more ideas, please click here.

 

 

 

 

 

 

 

 

 

 

 

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Australian retail sales up a bit

POS SOFTWARE

Overall most retailers are pleased with the latest retail figures released by the Australian Bureau of Statistics (ABS). It shows a moderate increase. The report itself is available here.

 

Now since this is coming out in excel, what you might want to do is merge your figures with an appropriate set of figures from this report to see how you compare with an average appropriate to you.

This you can do as unlike most point of sale software that can only produce standard reports, which works about 80% of the time. Ours has ad-hoc reporting so all you need to do is export your information into a spreadsheet, and put it into the Australian Bureau of Statistics report. 

If you have Microsoft Excel, you can use that, or you can use the free OpenOffice both as very good.

If you are unsure how to the export here is a training video which shows you how to do these exports.

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Stock that is not performing

POS SOFTWARE

Do you have some slow-moving stock items?

Maybe you can cut back on their space to make more room for your profitable products?

I suggest that we do this in two stages. 

To begin with

Firstly let us find the items that are the slow movers

Go to Register reports > Stock > Slow moving Stock lines

 

Now call it up here

As you can see I am looking at the stationery department over a twelve month period for anything that I have sold less than $100 and am now stocking something.

Now out pops a report in this case of 81 pages of detailed information of all the items that match this condition in this case, we have almost $80,000 worth of worthless stock.

Now check them out, pull out what you do not want to keep and put in your sales area.

Once you’ve got this done

I suggest that you do a report of your top selling stock items and at those items that are selling well. A rule of thumb in retail is double the space of an item increases its sales by 50%. So the idea here is we are going to replace the marginal items with those that sell well.

Go to Register reports

Now select "Top N Stock Sales for a Given Period."

Now the following comes up.

Now put an appropriate period the default here of a day is not enough for this but I just wanted a quick report for illustration.

Out comes a report with the top sellers

Now, these products need to be checked that you have the right display for each of these products.

Note anything, not on this list you also need to look at as they are marginal..

The bottom line is this

You do not want to pay to a landlord for the space to stock items that do not sell.

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EACH STOCK ITEM HAS ITS OWN TREND

If you are seeing that you need to discount a lot to sell stock you are overstocked, it is a sure sign that you need to do something. As a punt what is happening is that you are overordering on some items and probably underordering on others. What often we see in retail is that our memory is by definition the past and the memory remembers old top sellers but what we need is the top sellers today. Here is how to identify what is selling well now to check that you have enough stock for tomorrow and it is very easy in our point of sale system.

Go to Register reports

Register reports POINT OF SALE

Select the "Top N Stock Sales for a Given Period"

Top Stock Items Point of sale

 

Now out pops the following.

 

Now select a day, as it is an old database I put in an old date. Usually, you would put in yesterday or today, just make sure you get close to a full day of trading.

 

Top Stock Items reporting

 

Now you get a report with the top sellers now

 

Keep track of top selling items

 

 

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