7 Ways Physical Inventory Improves Your Retail Operations

Inventory management is a necessary evil to running a successful retail business. Prioritizing inventory management can lead to major time and money savings and helps to inform future retail practices to make better decisions to improve your operations. With generations of specialty retail experience, Bravo knows better than most how important inventory management can be, but also how much more complicated it can be for specialty retailers than traditional retailers.  

Our Physical Inventory product works hard so you don’t have to. With no additional hardware needed and real-time reconciliation, you can perform audits while your store is open with multiple employees scanning items.  

Let’s talk the seven ways our Physical Inventory audits can improve your operations. Physical Inventory can:  

  1. Produce an accurate count of in-store inventory so that yearly reconciliations can be completed with confidence.
  1. Allow for found, overage and shortage items and lets you write these items off. (This is especially helpful in cases where the item purchased was added in as 10 items instead of 100, and your store shows 90 of something you never had. Physical Inventory automates these corrections, rather than you having to find the items individually.)
  1. Perform a “random count,” which is perfect for quarterly short audits to ensure item sales are being managed properly.
  1. Properly represent current inventory with the shortages feature. This can be a good indicator for foul play within a business or call out items that were confiscated or written off without being documented within Bravo
  1. Be performed simply by placing a laptop on a cart and moving throughout the store scanning as you go.
  1. Extensively document items throughout the store so they may be accounted for properly.
  1. Create an item history within the audit that shows detailed information down to the day and time the item was brought into inventory.

Use Physical Inventory to gain a more wholistic understanding of your current inventory and help inform decisions to meet customer demands and grow your business year over year. Take charge of your operations in 2023 and don’t let inventory own you! Schedule a demo to learn more about how Bravo’s Point of Sale and Physical Inventory can help you run your specialty retail store better than ever before.