Point of Sale Essay

The point of swop is the place and clock time at which a motion takes place. Whenever a buyer and seller come unitedly for the purpose of conducting a transaction, a point of trade is created. Also called a point of acquire, a point of bandter rear take a wide variety of forms. The funds establish line in a gasoline fueling station is a point of sale, for example, as is the confirmation page in an online investment company. The point of sale undersurface be a gross salespersons desk in an auto dealership, as an early(a) example, as git someones front porch in a ho determination-to-ho wasting disease sales transaction. act Processing SystemA transaction touch ashes can be defined as a rig of policies, procedures, equipment and technology designed to facilitate transactions at the point of sale. Transaction processing systems have evolved alongside advances in technology to add convenience, reliability and security to line of descent transactions. Just like the point of sale itself, transaction processing systems can take a variety of forms. A cash box and a pad of paper at a lemonade wheel is considered a transaction processing system, for example, as is a complex softw atomic number 18 system package that connects digital cash registers, extension card processors, farm animal databases and explanation package.CorrelationFor every point of sale thither must be a transaction processing system to accomp any(prenominal) it. The correlation is so close that software-driven transaction processing systems are often referred to as POS (point of sale) terminals. unalike point of sale situations call for different transaction processing systems, and unfermented transaction processing systems emerge to facilitate new point of sale types. An online retailer, for example, would be unwise to use a hand-operated cash register to process transactions over the phone instead, online retailers often rely on software transaction processing systems. Other ApplicationsThe point of purchase is an weighty concept for other marketing disciplines in addition to sales. academic degree of purchase displays in retail outlets use advertising or sales promotions to shape up impulse purchases while clients stand in line, for example. The 21st century has go outn the deck out of unsettled points of sale and transaction processing systems, bypassing traditional cash-register sales models for personal selling situations. In Apples retail stores, for example, salespeople use smartphone credit-card readers and mobile transaction processing systems to ring guests up wherever they stand. http//small melodic phrase.chron.com/point-sale-vs-transaction-processing-systems-17548.html7 reasons to confound to a point-of-sale systemBy Jeff WuorioIf youre a seasoned retailer, you know the problem Your inventory doesnt match your tallies. Sales are going unrecorded. Your staff is spending far too much time chasing mistakes instead of tending t o customers. Something is seriously wrong, and youre just not for sure what the problem is. These and other snafus suggest that its time that your wrinkle did outside with its cash registers and stepped up to a point-of-sale (POS) system, such as Microsoft kinetics retail Management System and Microsoft Dynamics Point of Sale (POS) . A POS system is a computer software and hardware network that records sales as theyre occurring it solves a variety of operational and record- preventing headaches. If you need much proof, here are seven signs that your business could boom with a point-of-sale system. 1. Your sudden shrink no longer goes undetected. POS systems such as Retail Management System are designed to immediately record any and all sales. Not only does that mean timely and accurate sales brooding, but a POS system withal lets you readily identify inventory levels, particularly when what you have on the books doesnt jibe with actual stock.You see it with the onset of sudden shrinkwhen you realize that inventory is missing or your numbers just never seem to match up, says John Rarrick of RBS Inc., a Nyack, N.Y., consulting concern specializing in startups and small businesses. Al well-nigh every modern POS has a receiving and inventory module that, when use properly, can help pinpoint the gain of the shrink. 2. Mark gloomy management is much easier. A common land mine for legion(predicate) small to medium-sized businesses is price reductionknowing which items have been marked down and recording those discounts accordingly. Rather than wrestling with cash-register receipts at days end, a POS automates the process of introducing markdowns and, in wind, tracking them accurately. The trends in POS are not just inventory accuracy but the use of pricing models to brook for markdown management, says Gary Ruffing, senior director of retail receiptss for BBK Ltd., a business informative firm in Southfield, Mich.3. Promotions can be tracked much successfu lly. A similar dynamic holds true with promotions. Whether through coupons, special discounts or other vehicles, promotions can be central to attracting and retaining business. Trouble is, managing and reconciling short-term specialsnot to mention pinpointing their impactcan be nigh impossible without the mechanisation and immediacy of a point-of-sale system. Many small retailers initiate in things such as direct home marketing, Rarrick says. At the end of the promotion, those with manual of arms cash registers are hard pressed to submit you how successful the promotion was. The POS store can pretty much tell you to the penny how they did. 4. You can maintain restrict in absentia. You may be surprised to take in that you actually run two businesses one when youre there and its immorality twin when you dont happen to be almost. Many trading operations suffer in employee efficiency and customer service when the boss is away.Automating a host of functions via a POS can help boost those areas, no social function where the head honcho happens to be.You simply cant be there all the time, says Jim Melvin, chief executive officer of Siva Corp., a Delray Beach, Fla., bon ton which provides point-of-sale systems to restaurants. A POS lets you have that important level of experience when youre not there. 5. Your prices are consistent from one localization principle to the next. Nothing can prove more embarrassing than having a customer question wherefore one item has one price at one store, to that extent a different price at another. If your business operates at more than one location, a point-of-sale system ensures pricing consistency.Even go, a POS system automates overall inventory control, helping to keep stocks in proper correspondence depending on demand and other factors, which can vary from one location to the next. It really lends itself to a better overall customer experiencethe sorts of things a customer expects when he walks through the front d oor, says Melvin. 6. You liquidate many tools in a single package. Buying business equipment piecemeal can be pricey.If you find your checkbook wearing thin from the expense of software and other gear, a comprehensive point-of-sale system may include them in a single package. Most POS systems have add-on modules like payroll department time clocks and customer preference databases, says Rarrick. That removes the need for small businesses to invest in separate systems for those purposes. 7. You can devote better use of your personnel. humble is more maddening to a business owner than watching his or her staff bogged down with inefficient, unproductive responsibilities, from double-checking inventory disparities to seemingly endless cash-register reconciliation. by chance the greatest advantage to a comprehensive point-of-sale network is the freedom it can afford your personnel to devote their energy to what genuinely matters the most helping customers.A good POS allows you to a llocate your human resources to the customer service area of the business, Ruffing says. That means they no longer have to be counting, calculating, ordering, and checking cash-register accuracy. http//www.microsoft.com/business/en-us/resources/technology/business-software/7-reasons-to-switch-to-a-point-of-sale-system.aspx?fbid=o1kGJp5H1vJSince it opened its doors to the Philippines in December 2000, MINISTOP has always envisioned go the leader in the convenience store industry. MINISTOP has made its presence felt by being the communitys warmest and friendliest modern combo store. It takes plume in its wide range of quality products, at affordable prices and value-added service.An origination to point of sale softwarePoint of sale software gives business owners a convenient way of checking out customers and of recording sales. It can keep a record of the store inventory, updating it when an order is processed. It can to a fault print out receipts, carry out credit card processin g, track customers, etc. Point of sale software eases the flow at stay terminals, while recording all the information that can help you patch up better business decisions.Point of sale software allows users to stimulant via keyboard or mouse, and some even have a touch mask interface. You can install the software on your checkout register.When checking out a customer you can either input the sales item yourself or use a bar code scanner. The point of sale software allow look up the item in the inventory and bring up the price. It can also calculate tax on the item and change for the customer.POS software can print out receipts and reports. Point of sale software makes your business accounting a lot easier by creating reports on inventory, sales, customers, etc. Since it is already recording each sale, it can easily tell you the sales and revenue of the day.Point of sale software can also help with credit card processing. Credit cards are the preferred system of payment. Peopl e do not want to carry around cash for all their purchases. Credit card is a convenient method of payment and if you do not have credit card processing, your business can lose some of its competitiveness.Point of sale software receives input from the POS hardware, which is the scanning station for the credit card. The software will process the credit card payment for you. It can check that the card has not run out and is valid. You will need a merchant account for the point of sale software to do its job.POS software is generally palmy to install and easy to use. You will need to know how to update inventory and record a price change for an item. Point of sale software.15 November 2004Proposal Point of Sale for The Brighter SideMost small businesses under estimate the brilliance of managing their inventory. They do not realize that many headaches and fire drills are caused by the lack of control and knowledge of their inventory. Whether it is a lack of knowledge of the bar or spe cs of a certain(a) product, businesses too frequently use outdated inventory systems. Insufficient systems do not allow them to get the most out of their inventory, because when used properly, inventory management systems allow businesses to make a concise, real time analysis of products and markets that help them make better business decisions. Inventory management systems also allow businesses to better set their customers since they keep a detailed and accurate record of purchase histories and trends so they can reorder products more efficiently. With a controlled inventory, management will be notified when products need to be rendered, are selling quickly or are disappearing due to theft.In essence, the business becomes organized and by exacting inventory, profits can increase. Inventory management allows businesses to make smart and sure decisions about promotions and specials since they are better able to monitor rate of turn for their merchandise. In addition, they let ma nagement know when a product is no longer profitable. Products are the heart and soul of a business. Even with the top hat customer service, they will not be profitable without a commodity to sell. It is the purpose between the business and its customer. It was interesting to hear from Kelly ODonnell, an owner for The Brighter Side, tell that her company does not use any inventory control whatsoever. The Brighter Side spends thousands of dollars on merchandise but does not systematically control how the products are doing or how much is left. During our interview I said to her, Do you send your daughter to school to learn and not see how her..Chapter 2 Review of Related writingsThis chapter tackles about the related literature of this certain system and also the theory of the author about her system.Related LiteratureThe hardware of a POS system is also distinctive and important. A regular(prenominal) system includes a display screen for the clerk, a customer display, a cash dra wer, a credit card swiping system, a printer, and a bar code scanner, along with the computer loaded with the POS software. Custom features may be added or removed, depending on the industry. A restaurant POS system, for example, may have a feature which prints order tickets directly in the kitchen, or a food market store may have an integrated scale for weighing goods. archean electronic cash registers (ECR) were controlled with proprietary software and were very limited in function and communications capability. In August 1973 IBM announced the IBM 3650 and 3660 Store Systems that were, in essence, a mainframe computer packaged as a store controller that could control 128 IBM 3653/3663 point of sale registers.This system was the first moneymaking(prenominal) use of client-server technology, peer to peer communications, Local Area Network (LAN) coinciding backup and remote initialization. By mid-1974, it was installed in Pathmark Stores in New jersey and Dillards Department Sto res. Programmability allowed retailers to be more creative. In 1979 Gene Moshers Old Canal Cafe in Syracuse, New York was using POS software written by Mosher that ran on an Apple II to take customer orders at the restaurants front entrance and print sleep with preparation details in the restaurants kitchen. In that overbold context, customers would often proceed to their tables to find their food waiting for them already. This software include real time labour and food cost reports. In 1986 Mosher used the Atari ST and bundled NeoChrome paint to create and market the first graphical touch screen POS software.