Now more than ever, no other system helps small and medium-sized businesses manage their inventory like Lightspeed. With our brand new report , you’ll be able to quickly detect and correct inventory discrepancies and avoid many errors in your cost reports . Plus, this report is so special, Lightspeed is one of the only full-stack POS system providers to offer it to its customers. Cool, right?
But before we tell you more, let's start by refreshing our memories on:
What is negative stock?
What are the main causes of negative inventories?
Why is it important to track and manage this inventory well?
Manage your negative inventory like a pro.
Negative inventory is a positive. Why? Because it means your inventory is accurate. Plus, it means you were able to complete your transactions even though your Lightspeed POS told you there was no inventory left. This could qatar number for whatsapp be due to an incorrect inventory count, a shipment that doesn’t match what’s on the purchase order, or not having enough time to get items into your system before placing them on the sales floor. Stores are busy places, especially during the summer and holidays, and these errors can happen frequently.
The negative inventory feature visually shows you when something is wrong. It also makes it very easy and quick to detect areas of your inventory that need your attention without you having to dig or analyze in depth.
To enable the negative inventory feature and the brand new report in your POS system, simply go to your settings and click on optional modules to enable it. This will allow your inventory to go into the negative numbers and unlock the valuable negative inventory report.
Find the mistake and fix it, quickly.
So, now you know the benefits of an inventory system that supports negative stock, but what good is it if we still don't know what caused the error in the first place?
That's what the new negative inventory report is for!
Quickly find your inventory discrepancies
Track incoming inventory on your orders from your suppliers and transfers
Keep an eye on your inventory entries and exits
You can now locate inventory numbers in seconds to make quick adjustments that keep your quantities up to date online and in-store. Use the new report to detect inventory issues and resolve them before they become a problem.
New Negative Inventory Report Finds Your Inventory Discrepancies | Lightspeed POS
How Theresa from Bodacious Bustlines is Profiting from the New Negative Inventory Report
Bodacious Bustlines , a women’s lingerie boutique in Saskatchewan, Canada, specializes in custom accessories and helps women navigate the bra industry with over 68,000 SKUs across two stores. Never afraid to adapt to improved technology solutions to run their business, they moved from physical servers to the cloud with Lightspeed Retail, and have been taking advantage of the “auto-add” feature to negative inventory since April to better control their inventory accuracy. And they’ve been loving it ever since.
“Lightspeed’s negative inventory feature has made my inventory control an absolute paradise!”
Theresa runs her report three times a week to see which items have been oversold, which ones need to be archived from a purchase order, and which ones need to be sent on a transfer. Having easy access to this level of information allows Theresa to easily correct negative values and take a closer look at the source to identify recurring and preventable issues.