...Point of Sale (POS) and Inventory management is vitally important for any business that sells a product. An inventory system must stasis having enough inventories on hand to meet the insistence of customers while investing as little money as possible in inventory. An inventory system is basically a development whereby a business keeps track of the goods and material it has available. In its snap sense it can be done manually by a count at the end of each day. In this way it is possible to keep a record of the goods coming in to the business and goods being sold. However this is only really relevant for small businesses that do not have a lot of stock. For larger business it is more likely that a computerized system will be essential. These days a computerized Point of Sale and inventory system is the most likely to be used by medium and large businesses although some small businesses may also use this. These commonly use bar codes or radio frequency identification tags to keep a record of inventory objects. This can be used to keep a track of customer orders, monitor the stock a business has available for render orders and also provide details of when inventory needs to be restocked. Using computerized Point of Sale with Inventory will give benefits to the business owners, employees/staff and to the customers. Computers and bar codes allow for a more adept management of inventory levels and provide a clearer view of inventory movement. More businesses are using transactional review...
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...POS (Point-of-Sale) System Kenyatta O'Neal CIS/207 December 8, 2013 Karen Miles POS (Point-of-Sale) System The POS system or Point-of-Sales was initially started in 1879, when James Ritty came up with the idea of a cash register that records the daily sales to address the issue of dishonest employees who frequently pocketed money from the customer instead of depositing it. Plenty of enhancements were made over the years to the cash registers until the early 1970s. This was the year the first computer driven cash registers were displayed. They were basically a mainframe computer packaged as a store controller that could control certain registers. At this point peer-to-peer communication, Local Area Network (LAN) backups, remote initialization, and utilize client-server technology was used. Retail software based on PC technology was mainstream in the retail business by the late 1980s. An integrated POS system of today allows retailers to operate every outlet of their business, because they are faster, more secure, and more reliable than their predecessors. These POS systems can help reduce paperwork, track inventory, and market to the customers through one easy to use process. Information is contained in one database, making it easy to search for any portion of information and connect it to others through reports and it also makes more time for business owners to manage their businesses rather than being tied up with details. POS systems are designed to minimize the time...
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...art in technology. Point of Sale (POS) systems are becoming the norm in most modern successful businesses. Fast, efficient and accurate transactions equate to satisfied customers who return time and time again to patronize establishments who possess the ability to exploit those characteristics. Many have found that using a POS enables a business to do just that. Successful owners and managers of successful businesses embrace the changes that come with technology. Modern technology has entered almost every aspect of our lives. From the way we do business, the entertainment we enjoy, even the food we eat. Almost gone are the days of servers yelling back to the chefs/cooks to make an order of “pigs in a blanket” (wrapped sausage) or an “eve with a lid” (apple pie). Also, an ever increasing number of restaurant owners and managers have come to the realization that computer technology has greatly reduced the required amount of time performing routine tasks such as inventory, resupply, menu analysis, bottom line profits, payroll, and the list goes on. The focus of this paper is centered on technology in the hospitality industry, specifically, the restaurant business. This paper will address the type of systems available to the restaurateur and his or her employees. I will go into detail of how these systems enhance the business of running a restaurant successfully. First, key features of some of the more widely used systems. Point of Sales systems (POS) come...
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...Specific Topic Point of Sale System in Business using LCD touch-screen monitor III. Specifics of Research A. Introduction POS or PoS, an abbreviation for Point of Sale, is a system for managing the sales of retail goods. This is a computerized network operated by a main computer and linked to several checkout terminals. The term POS use to refer to the software and hardware associated with checkout stands, and all of the bundled features which are included in one. This was truly revolutionized the business industry and made huge advancements from the mechanical cash registers for the first half of the 20th century and revolutionized into electrical and more sophisticated, powerful and user-friendly computer networks in commercial usage. Running business is a process. There are many things to consider in a business; analyzing data, monitoring products, adjust purchasing levels accordingly and maintaining sales history are the day-by-day works that must be handled as one. Deciding to have a system is the best decision that once business is made especially at today's world of industry. POS Systems drastically cut down total operating costs and mistakes due to human error. Just imagine how much longer the business process would take if no such solutions existed. The time and effort of the business heavily impacts the overall quantity & quality of the daily sales. Best-in-class customer service is no longer simply a matter of traditional point-of-sale functionality...
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...Point of sales system POINT OF SALES is a system allowing business transactions to be monitored, and also therein facilitating tasks that would otherwise be time-consuming (if done manually) such as monitoring stock, inventory managing and etc. Point of sale also refers to the capturing of data and customer payment information at location (counter) when goods or services are bought and sold. The POS transaction is captured using a variety of devices which include computers, cash registers, optical and bar code scanners, magnetic card readers, or any combination of these devices. What can Point Of Sales System do? * track all elements of each order, from payment to design details to delivery date, months in advance. * Customer Information: The system automatically records customer names, addresses, credit card information, what they bought and when. It can also record birthdays, anniversaries, and any other information that may be significant to your particular business. This information can be searched and selected to make targeted and timed mailings not only practical but easy. * Customer Relations: Everything about the customer's purchases can be immediately called up from the system. This makes handling payments, returns and other transactions easy even if the customer has misplaces the paperwork. In multi-store environments it doesn't matter which store the customer goes to, all the information is available at all stores. * Inventory Control: The computer keeps...
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...Point of Sale 1. POS solutions website: http://www.possolutions.com.au/about/company-profile Today POS Solutions is a leader in Retail POS as it is an experienced supplier of Point of Sale Systems as well as individual point of sale system and point of sale equipment for a wide range of business environments. It is a major software developer specializing in Australia in newsagencies and pharmacies servicing over twelve hundred businesses Australia wide. Our head office is in Melbourne, Australia with offices in Sydney, Brisbane and Perth. Pos solutions started in 1983, a computer programmer Bernard Zimmermann seeing the potential of the personal computers started POS Solutions to design and market specific written software and computer hardware for businesses. In 1990, POS Solutions marketing director Zac Varga developed a plan for a standard newsagency industry software package to help these independent retailers to gain access to the new technological developments. The company succeeded in introducing a competitive range of newsagency software that enabled it to hold a top position in the market. Soon afterwards Zac Varga bought 50% equity in the company. Now Pos solutions provide our clients with a complete range of solutions including software, hardware, support and marketing and have consistently focused on our original vision of POS Solutions. It has continuously changed to meet the needs of the marketplace and today we are engaged in every aspect of technology...
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...Point of sales system POINT OF SALES is a system allowing business transactions to be monitored, and also therein facilitating tasks that would otherwise be time-consuming (if done manually) such as monitoring stock, inventory managing and etc. Point of sale also refers to the capturing of data and customer payment information at location (counter) when goods or services are bought and sold. The POS transaction is captured using a variety of devices which include computers, cash registers, optical and bar code scanners, magnetic card readers, or any combination of these devices. What can Point Of Sales System do? * track all elements of each order, from payment to design details to delivery date, months in advance. * Customer Information: The system automatically records customer names, addresses, credit card information, what they bought and when. It can also record birthdays, anniversaries, and any other information that may be significant to your particular business. This information can be searched and selected to make targeted and timed mailings not only practical but easy. * Customer Relations: Everything about the customer's purchases can be immediately called up from the system. This makes handling payments, returns and other transactions easy even if the customer has misplaces the paperwork. In multi-store environments it doesn't matter which store the customer goes to, all the information is available at all stores. * Inventory Control: The computer...
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...Implementation ad training for the new point-of-sale system at Wal-mart Inc In January of 2011 my team and I were tasked with the deployment and implementations as well as setting up the training and support procedures for the new point of sale(POS) system at a test Wal-Mart store in Arkansas. This following plan will detail the strategies which will be employed for the accomplishment of the task and the potential problems and their consequent overcoming. The project is still in development so any of the proposals discussed here are not final and may be subject to further changes. The new point of sale system our company has designed for Wal-Mart Inc is a state of the art software solution on a new and improved hardware. It is navigates through touch and in some instances security barcodes and keys. It gives the users full control over the transaction process – from editing items in mid sale to immediate transaction reversal or refund. The POS system is also completely suited for the new Radio frequency identification (RFID) requirements set by Wal-Mart Inc. The user interface has been streamlined and contextualized for improved speed and intuitive navigation. It has the capability of tracking commission based sales and it can be synchronized with a handheld near-field communication password manager for quick and easy log-on. Only the expected commands are accessible any given point and an expanded set is available to managers and supervisors. However easier to use the new system...
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...Point-Of-Sale Overview You can use the Point-of-Sale module (POS) to create Cash Receipts, Invoices, and receive A/R Payments. In addition, you can create returns for Receipts and Invoices. The POS system replaces the cash register in a retail store. The POS system can track sales by various payment methods like cash, checks, credit cards, coupons, and gift certificates. The POS system requires that you have the Accounts Receivable and the Inventory modules. For example, POS will update inventory sold figures in Inventory, or the salesperson’s commission in Accounts Receivable. In addition, if you want to create Sales Orders, you will need the Order Entry (O/E) module. Other modules are optional. The POS system replaces your manual cash drawer with a personal computer. In addition, you can attach accessories like the POS Cash Drawer, Star 40 Column Receipt Printer, and the Bar Code Scanner. Accounting for Windows Point-Of-Sale • 419 The POS Flowchart The following flowchart shows the process flow for the POS system. The first step involves creating and printing a Receipt or an Invoice. If you have a product return, you can also create a Return Receipt or a Return Invoice. You may print the Receipts or Invoices. Make sure you back up your data before posting the Invoices. During the posting process, the Customer file, Inventory, A/R Checkbook Deposit, Accounts Receivable, and General Ledger are automatically updated. 420 • Point-Of-Sale Accounting for Windows ...
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...Cost is not a main concern for Kudler customers; these customers are interested in high quality and specialized goods. Therefore, Kudler has requested a Frequent Shopper Program System with a “loyalty points program to provide customers with points that they redeem for high-end gift items, airline first-class upgrades, or other specialty foods” (ecampus.phoenix.edu, 2011). The Frequent Shopper Program System for Kudler Fine Foods will track purchase behavior of individual customers and provide high value incentives by installing a customer loyalty points program. “Point of Sale Software” (camcommerce.com, n.d.) “Retail STAR Point of Sale (POS) software provides a solution for customer tracking, managing inventory, and selling inventory via sales orders or point-of-sale transactions” (camcommerce.com, n.d.). The software program has a CRM (Customer Relationship Management) module built into Retail STAR. Retail STAR Point of Sale Software can computerize all of Kudler’s sales data and provide executive management with a balance sheet and profit and loss statement at the end of each sale day. Retail STAR will track all the vital information needed to generate marketing campaigns to have Kudler Fine Foods customers return to the stores. “The CRM module can drive increased sales, display up-sells, email marketing, complete buying history, and integrated accounts receivable” (camcommerce.com, n.d.) . Frequent Buyer Program Retail STAR permits management to customize the frequent...
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...Chapter 1 INTRODUCTION Background of the Study Information, in today’s intensely competitive business environment, has become as important as, or even more important than products. For a retailer, a Point of Sale system is important in gathering and applying information effectively. A simple cash register cannot gather or utilize information effectively enough (Vazov, 2010). According to Smith (2003), a Point of Sale (POS) system is a system for managing the sales of retail goods. The term is used to refer to the software and hardware associated with checkout stands, and all of the bundled features which are included. Most retailers use a POS system at their checkout stands or counters, and several major manufacturers offer POS systems designed for various types of businesses, ranging from grocery stores to clothing boutiques. In the retail trade, the “point of sale” is the moment when a customer walks up to a counter with goods and prepares to purchase them. During this point of sale, a POS system is extremely useful to register the purchase, keep track of inventory, purchase details such as time and date, and input all this data into a database which then can be used for generating reports. In any kind of business, most defiantly a POS system is required. This is because POS systems make the whole process of check out a lot easier. Owners will always have use of such equipment in their business. The importance of such equipment in retail is indispensable. There are...
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...Requirements for Kudler’s Fine Foods Frequent Shopper Program Daniel W. Burgess, Richard Rives, Darrell Crosson, Warren Johnson, and Antoin Jenkins Axia College University of Phoenix Requirements for Kudler’s Find Foods Frequent Shopper Program Introduction In an effort to maintain a competitive edge in the gourmet food industry, Kudler Find Foods will implement changes to the company’s infrastructure and overall networking capabilities to create a shopping program for our dedicated customers. A system analysis team has been created to meet this challenge led by Daniel W. Burgess, Vice President of Operations, Richard Rives, Director of Information Technology, Darrell Crosson, Director of Human Resources, Warren Johnson, IT Specialist, and Antoin Jenkins, Program Coordinator. The goal of the project is to provide our customers with the best processing methodology to complete error free transactions; generate feedback from users; and address any issues from customers by upgrading our customer service operations. The scope of the Frequent Flyer Program (Service Request Form, SR-kf-013) will entail low-level processes that focus on the business aspects of our IT department and the processes that involve a RAD (Rapid Application Development) system. The program will be able to operate on a global scale with operations in Asia, China, Japan, and South America. Upgrades to our systems will represent different approaches that streamline and improve the system...
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...Benefit for Mom’s Restaurant The Benefit of Point of Sale Technology for Mom’s Restaurant Philip Crocco Keller Graduate School of Management Abstract This paper explores the current situation at Mom’s Restaurant and the practical application of implementing a Point-of-Sale system. The background and vision of Mom’s restaurant will be addressed as a point of reference, so as not to change the direction of the establishment, rather to enhance its potential. Current business issues facing Mom’s restaurant as they compare to the industry in general will be discussed to paint a clear picture of the true cost and potential benefits of such a decision. Certain research and opinions from industry professionals will be included to support the proposal for implementation. Different benefits will be examined as they relate to the budget and income statement for Mom’s restaurant. Purpose of the Report Mom’s Restaurant has served the people in and around South Pasadena for nearly two decades. It has established itself as a neighborhood staple and has reaped the benefits for many years. Though a reputation for quality food and service has kept it going, the times will inevitably catch up with it as the small suburb slowly expands and competitors multiply and become more efficient in managing their costs. It is the purpose of this report to convince the owners and operators of Mom’s Restaurant to invest in a Point-of-Sale system in order to manage costs and improve efficiency...
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...Bagwell Since 1938 Recreational Equipment Inc. (REI) has been a worldwide leader in selling outdoor recreation gear, sporting goods, and clothes in 122 retail stores in 29 states, Recreational Equipment Inc. (REI) opens four to six new stores each year. REI's sales exceeded 1.8 billion in 2011. With four to six new stores opening each year and wireless technologies becoming the standard in the business industry, the team at REI is ready to move forward and maintain its position as one of the industry leaders in outdoor enthusiast gear sales. Proposal: As technology has progressed REI has fallen behind. Large retail companies have followed the wireless technology trend to stay ahead of the curve. REI’s goal is to increase sales, improve inventory management, and customer service through an increased use of technology. Studies have shown that if needs are not met quickly, one in ten customers will abandon a line while waiting. This might cause the customer to leave the store, making them less likely to return in the future. Mobile point of sales (POS) systems can be integrated, using handheld computers, scanners, and printers with integrated credit card readers. During the holidays and high volume periods, sales personnel can be strategically placed throughout the store with these mobile devices. The whole transaction can be completed for customers paying by credit card with receipt printed or emailed, all with never having to stand in a line. A major expense for retailers...
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...confident that it would add 5 million euro in annual profit to the Consumer Bank Segment within two years. ------------------------------------------------- Alpen Bank had developed a reputation for excellence in serving affluent clientele. In addition to basic deposit, checking and personal loan services, customers had access to a wealth management program composed of financial planning and investment products. ------------------------------------------------- Some of the key issues that the management was concerned with before launching a credit card were: - ------------------------------------------------- 1) Low per capita income levels ------------------------------------------------- 2) Poorly Developed Infrastructure of point of sale terminals ------------------------------------------------- 3) Population’s Inexperience with consumer credit...
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