Square announces new inventory management features for Square for Retail sellers to help automate and improve one of the most challenging but critical processes businesses of all sizes face.
New features like Easy Item Create, Quick Inventory Counting, and Smart Stock Alerts provide sellers greater control over their inventory management and improve efficiency with better ways to create, count, and reorder inventory.
The ability to reach buyers wherever they are — whether that be in store, online, or across social media — is more important than ever. As a result of shifting consumer preferences, the impact of staggered reopening schedules, and a shift to online selling, an omnichannel presence is no longer a “nice to have” but has become critical for long-term success.
In fact, a recent survey by Square revealed that nearly 90% of retailers are now selling online.
“Last year was a challenging one for retailers. We’re looking forward to providing sellers with access to the tools they need to prepare for reopenings and the year ahead. We’re also excited to help sellers continue to automate difficult, but necessary tasks like inventory management, and get back to doing what they love – running their business.”Roshan Jhunja, GM, Square for Retail
Accurate Inventory Increases Sales Across All Channels
For retailers, access to real-time insights into what products are available, when, and where, is key as businesses look to expand their sales channels. Many sellers view inventory as one of the most frustrating and difficult tasks they encounter because building out a product catalog, counting inventory, and keeping stock at the right levels is traditionally a manual and labor-intensive process.
With the introduction of Easy Item Create, Quick Inventory Counting, and Smart Stock Alerts in Square for Retail, retailers will be able to perform a full or partial inventory count quickly and easily and get a heads up when they’re running low on an item so they can reorder.
Quick Inventory Counting helps sellers easily keep their stock counts accurate with simple barcode scanning, and Smart Alerts use machine learning to anticipate when an item is going to run out of stock and automatically helps sellers reorder.
Finally, Easy Item Create helps sellers quickly build out their catalog and get it ready for sale across any channel, by populating item information with just a scan of a barcode.
The new inventory system is part of Square’s for Retail Point of Sales solutions for retailers and is available now.
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