Robust ThemeDec 09, 2019 2020-04-08 7:40
Top 5 Inventory Management Tools for Game Stores
Inventory management requires balancing product supply with customer demand. A business with too much inventory becomes stagnant, with more money in product than profit. But when a customer goes to buy a product, the item needs to be in stock. Proper inventory management goes a long way to ensuring a business is profitable. This requires accurate data collection, detailed stock reports, and the ability to know what inventory performs best.
Game stores often carry a significant amount of inventory, so game store owners are well aware of the importance of inventory management. Furthermore, buying and selling TCG singles is often a large part of a game store business—both in-store and online. BinderPOS offers inventory management tools designed specifically to meet game store needs.
Sales Platform Integration
Shopify is the industry leader in online storefronts for small businesses. It allows businesses to manage an unlimited inventory through a customizable website with marketing features built-in. For this reason, Inventory Management Softwares, BinderPOS included, often feature eCommerce integration. This allows a game store’s online products and in-store offerings to be managed in one place.
Automated Data Collection
Manual data collection is an easy way for human-error to disrupt inventory management. The vast majority of businesses utilize barcode scanners to ensure all information is correct, from the time the store receives it until the customer takes it home.
Based on the Pareto principle, this analysis is based on the idea that 20% of a store’s inventory will produce 80% of its revenue. An ABC analysis shows businesses which products their bottom-line can’t afford to live without. This knowledge allows owners to prioritize inventory in order of importance and focus their marketing efforts in fruitful directions.
TCG Singles Database
Games stores that sell TCG singles have an extra layer of inventory to consider. With prices in constant fluctuation, manually updating cards becomes a constant hassle. BinderPOS is uniquely prepared to automate these challenges, with customized pricing algorithms, automatic pricing updates, and new sets for various TCGs made available for pre-order before release.
Finally, a crucial aspect of inventory management is being able to properly track a business through stock reports. These reports should highlight key factors, including count, value and cost of stock inventory by product type. Stock reports provide priceless insight into what products are selling and through which channels. BinderPOS offers custom, downloadable reports alongside a live dashboard featuring the most important information regarding company sales and inventory.
A Software Built for Local Game Stores
In the modern world, game stores need comprehensive tools for managing inventory. Properly tracking the way products move through a store will provide a ton of information for its longevity. With customizable analytics and reporting, BinderPOS provides owners with a suite of useful features that help game stores sell more products, both in-store and online. Book a demo today.