Maintaining proper inventory levels is the key to success in most retail outlets, but especially so in a convenience store. Convenience store customers expect to find an adequate supply of a number of items in stock. One of the best ways to manage inventory at a convenience store is through the use of an effective point of sale (POS) perpetual inventory system.
Buy the right products. Review stock reports obtained from your perpetual inventory system on a weekly basis to identify any items that are not selling well. Choose new products to take the place of these items. Identify products which sell faster than you can restock them and make more room for those particular items.
Purchase the correct quantities. An effective POS system will automatically reorder a replacement item as soon as a particular item sells. For instance, if a customer buys three bottles of a particular brand of soda, your system will automatically reorder three bottles of soda to replace those that were just removed from inventory.
Check actual stock levels on a regular basis to ensure the numbers in your system match those on your shelves. At least once a week, do a spot check of at least five different items in your store to make sure the actual quantity you have on hand matches what the inventory system says you have.
Amanda L. Webster has a Master of Science in business management and a Master of Arts in English with a concentration in professional writing. She teaches a variety of business and communication courses within the Wisconsin Technical College System and works as a writer specializing in online business communications and social media marketing.