Point of Sale Essay

The point of exchange is the place and time at which a operation owns place. Whenever a vendee and seller come together for the purpose of conducting a transaction, a point of sale is created. Also c aloneed a point of purchase, a point of sale butt joint take a wide variety of forms. The cash register line in a gasoline fueling station is a point of sale, for example, as is the bridle page in an online store. The point of sale can be a salespersons desk in an auto dealership, as a nonher example, as can somewhatones depend porch in a door-to-door sales transaction.Transaction Processing SystemA transaction processing organisation can be defined as a set of policies, procedures, equipment and technology designed to facilitate transactions at the point of sale. Transaction processing systems throw away evolved alongside advances in technology to add convenience, reliability and security to business transactions. Just like the point of sale itself, transaction processing sys tems can take a variety of forms. A cash box and a pad of paper at a lemonade stand is considered a transaction processing system, for example, as is a complex software harvesting package that connects digital cash registers, credit card processors, inventory databases and accounting software.CorrelationFor every point of sale at that place must be a transaction processing system to accompany it. The correlation is so close that software-driven transaction processing systems are often referred to as POS (point of sale) terminals. Different point of sale situations call for different transaction processing systems, and new transaction processing systems emerge to facilitate new point of sale types. An online seller, 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 important concept for other marketing disciplines in addition to sales. request of purchase displays in retail outlets use advertising or sales promotions to encourage impulse purchases while customers stand in line, for example. The 21st century has seen the rise of mobile points of sale and transaction processing systems, bypassing traditional cash-register sales models for face-to-face exchange situations. In Apples retail stores, for example, salespeople use smartphone credit-card readers and mobile transaction processing systems to ring customers up wherever they stand. http//smallbusiness.chron.com/point-sale-vs-transaction-processing-systems-17548.html7 reasons to switch to a point-of-sale systemBy Jeff WuorioIf youre a veteran retailer, you know the problem Your inventory doesnt harmonise your tallies. Sales are going unrecorded. Your staff is spending far too much time chasing mistakes instead of tending to customers. Something is seriously wrong, and youre on the button not sure what the problem is. These and other snafus suggest that its time that your business did away with its cash registers and stepped up to a point-of-sale (POS) system, such as Microsoft kinetics Retail Management System and Microsoft Dynamics battery-acid 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-keeping guideaches. If you need more proof, here are seven signs that your business could boom with a point-of-sale system. 1. Your sudden compress no longer goes undetected. POS systems such as Retail Management System are designed to immediately record any and all sales. Not just now does that mean timely and accurate sales tracking, but a POS system also lets you readily identify inventory levels, particularly when what you arrive on the books doesnt jibe with actual stock.You see it with the onset of sudden shrinkwhen you concreteize that inventory is missing or your numbers just never seem to outfit up, says John Rarrick of RBS Inc., a Nyack, N.Y., consulting concern specializing in startups and small businesses. Almost every modern POS has a receiving and inventory module that, when used properly, can support turn up the cause of the shrink. 2. Mark gobble up management is much easier. A common land mine for many small to medium-sized businesses is price reductionknowing which accompaniments 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 turn, tracking them accurately. The trends in POS are not just inventory accuracy but the use of pricing models to allow for markdown management, says Gary Ruffing, senior director of retail services for BBK Ltd., a business advisory firm in Southfield, Mich.3. Promotions can be tracked more successfully. A similar dynamic holds true with promotions. Whether through coupons, special discounts or other vehicles, promotions can be primeval to attracting and retaining business. Trouble is, managing and reconciling short-term specialsnot to mention pinpointing their impactcan be nigh impossible without the automation and immediacy of a point-of-sale system. umteen small retailers invest in things such as direct home marketing, Rarrick says. At the end of the promotion, those with manual cash registers are hard pressed to sort you how successful the promotion was. The POS store can pretty much tell you to the penny how they did. 4. You can maintain control in absentia. You may be impress to discover that you actually run two businesses one when youre there and its evil twin when you dont happen to be around. 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 matter 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., company which provides point-of-sale systems to restaurants. A POS lets you have that important level of control when youre not there. 5. Your prices are consistent from one location to the next. Nothing can prove more disconcert than having a customer question why one item has one price at one store, yet a different price at another. If your business operates at more than one location, a point-of-sale system ensures pricing consistency.Even better, a POS system automates overall inventory control, helping to keep stocks in proper balance depending on demand and other factors, which can vary from one location to the next. It really lends itself to a better overall customer lie withthe sorts of things a customer expects when he walks through the front door, says Melvin. 6. You get many tools in a single package. Buying business equipment piecemeal can be pricey.If you find your hinderbook 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 time clocks and customer preference databases, says Rarrick. That removes the need for small businesses to invest in elucidate systems for those purposes. 7. You can lick better use of your personnel. Little is more maddening to a business owner than watching his or her staff bogged down with inefficient, futile responsibilities, from double-checking inventory disparities to seemingly endless cash-register reconciliation.Perhaps the greatest advantage to a comprehensive point-of-sale network is the freedom it can afford your personnel to give their energy to what genuinely matters the most helping customers.A good POS allows you to allocate 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. htt p//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 becoming the leader in the convenience store industry. MINISTOP has made its heraldic bearing felt by being the communitys warmest and friendliest modern combo store. It takes pride in its wide range of quality products, at affordable prices and value-added service.An submission 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 also print out receipts, carry out credit card processing, track customers, etc. Point of sale software eases the flow at checkout terminals, while recording all the information that can help you make better business decisions.Point of sale software allows users to input via keyboard or mouse, and some even have a key signature concealment 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 will 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 method of payment. People 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 c ompetitiveness.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 expired and is valid. You will need a merchant account for the point of sale software to do its job.POS software is generally voiced 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 2004 final cause Point of Sale for The Brighter brassMost small businesses under estimate the importance 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 quantity or specs of a certain product, businesses too frequently use outdated inventory systems. Insufficient systems do not allow them to get the most out of their inventory, because when use d 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 serve their customers since they keep a enlarge 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 controlling inventory, profits can increase. Inventory management allows businesses to make smart and informed decisions about promotions and specials since they are better able to monitor rate of turn for their merchandise. In addition, they let management know when a product is no longer profitable. Products are the heart and soul of a business. Even with the best customer service, they will not be profitable without a goodness 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 girlfriend to school to learn and not see how her..Chapter 2 Review of Related LiteratureThis chapter tackles about the related literature of this certain system and also the supposition of the author about her system.Related LiteratureThe hardware of a POS system is also distinctive and important. A typical system includes a display screen for the clerk, a customer display, a cash drawer, a credit card swiping system, a printer, and a bar code scanner, along with the computer loaded with the POS software. practise 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 grocery store may have an integrated scale for weighing goods. Early 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 dominance that could control 128 IBM 3653/3663 point of sale registers.This system was the first commercial use of client-server technology, peer to peer communications, Local Area Network (LAN) simultaneous backup and inappropriate initialization. By mid-1974, it was installed in Pathmark Stores in New Jersey and Dillards Department Stores. Programmability allowed retailers to be more creative. In 1979 Gene Moshers Old Canal coffee shop 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 complete preparation details in the restaurants kitchen. In that novel context, customers would often proceed to their tables to find their food wait for them already. This software included 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.