Category: Customer experience

Unlock Success Across Multiple Stores with our Powerful Multi-Store POS System

Post author By Sadiq Lithos
Post date June 15, 2023
16 Comments on Unlock Success Across Multiple Stores with our Powerful Multi-Store POS System

multi-store pos | LithosPOS

Without relying on technology it is hard to manage a multi-location business. Innovative systems like Point of Sale can help you minimize the efforts you need to pay to run your businesses and offer higher output. By integrating each of your multi-business operations together you can automate various business operations.

So what’s exactly a multi-store POS?

Multi-store POS is a point of sale system is system that is helpful to multi-store restaurants and retail. It automates complex business operations like inventory managing, payment transactions, reporting and analysis, and employee and customer management.

Smart POS like LithosPOS is built for restaurant and retail businesses. LithosPOS provides everything needed for the growth of such businesses.

As the business grows, so does the need for manpower to manage it. It is very expensive and wastes time. But you can reduce those costs by using a POS system like LithosPOS.

Benefits of a multi-store POS

Let’s discuss the benefits of a multi-store pos

Centralized management

With centralized management, business owners or managers can access real-time data and insights from each store location. So by having a centralized view, you can streamline operations, implement consistent pricing and promotional strategies, optimize inventory distribution, and ensure a seamless customer experience across all stores

Inventory management

The system provides real-time data which you can monitor your inventory and keep it profitable. This provides visibility into inventory levels at each store location, allowing businesses to track stock levels and avoid stockouts or overstocking.

All product information such as SKUs, descriptions, pricing, and attributes are stored and managed centrally. This eliminates the need for duplicate data entry across different stores and is very helpful in reducing errors.

However, Inventory management is one of the main complex operations to manage when it comes to multi-store businesses. But automating those operations makes it easy.

Stock transferring across your locations

When a particular store runs low on a specific product, the system can generate alerts or notifications to notify the inventory manager. They can then initiate a stock transfer to fulfill the demand and maintain adequate stock levels at each store.

It eliminates human errors that could appear when managing your inventory and make the process simple and secure.

Multi-store promotions and pricing

It allows you to easily track and analyze the performance of your promotions. The centralized POS allows you to manage your promotional campaigns for all your stores. You can define discounts, special offers, and loyalty programs that apply across your stores

Customer management

It allows you to manage your entire customers of different business locations. Customers can redeem targeted offers from any of your stores. They can also use loyalty coupons to get special offers. So, it makes more simple to manage them with 100% efficiency.

The multi-POS include some features such as:

Centralized Customer Database: The centralized customer database stores customer information such as names, contact details, purchase history, and loyalty points. and this data can be accessed from any of your stores. If a customer makes a purchase from one store and then buys from another store later, you can still access their data. This helps you identify loyal customers and provide them with special discounts or rewards to enhance their experience.

Customer Profiles: As we discussed above the POS collects customer data and stores it in their profiles. It helps you to quickly identify their buying behavior and give special consideration if he is a loyal customer.

Unique Customer IDs: It gives unique customer IDs for each of your customers. So, when the customer purchases any of your stores you can simply identify him using the ID.

Loyalty Program: Integrate a loyalty program to reward and incentivize customers. The loyalty program should be integrated with the multi-store POS system, It allows customers to earn and redeem loyalty points across your different stores

Analyze performance

Getting report and analyzing it is one of the best features provided by smart point of sale software like LithosPOS. It allows you to analyze your business performance and identify which business is growing and which are not.

Employee management

A multi-store business has hundreds and thousands of employees. Managing them and identifying their efficiency and inefficiency is challenging.

Using the POS system you can set employees access and permission based on their roles and responsibilities.

However, It also benefits time and attendance tracking, staff scheduling, and performance tracking.

For better understanding, we have shown the above content in a table.

Benefit	Description
Centralized management	Easily manage and control multiple locations, including sales, inventory, and employee performance
Inventory management	Monitor real-time inventory data to optimize profitability, track stock performance, and identify trends
Stock transferring	Seamlessly transfer stock between locations, ensuring adequate inventory levels and avoiding stockouts
Multi-store promotions	Implement consistent pricing and promotional campaigns across all stores, maximizing sales opportunities
Customer management	Efficiently manage customers across different locations, enabling them to redeem offers and use loyalty coupons
Performance analysis	Access comprehensive reports to analyze business performance, identify growth opportunities, and make data-driven decisions
Employee Management	Set access and permissions for employees based on their roles and responsibilities. Streamline time and attendance tracking, staff scheduling, and performance monitoring across multiple stores.

However, to get succeed in a multi-store business, you need to consider point of sale system. It simplifies your complex business operations and secures your business.

LithosPOS multi-store POS

LithosPOS is a leading point of sale software provider for all types of multi-store businesses. We are trusted by 6000+ retail and restaurant chains. With its industry-leading features, including integration with 12+ payment partners, multiple payment methods, online ordering and eCommerce integration, inventory management, accounting integration, and much more.

The interesting fact is LithosPOS support intention is to support all types of retail and restaurant businesses. So the price of the software is affordable for anyone.

Best for	Restaurants and retailers
Price	Visit pricing
Free trial	14 days free trial
eCommerce POS integration	Yes
Payment processing	Yes
Customer loyalty program	Yes
Accounting integration	Yes
Marketing integration	Yes
Inventory management	Yes
Aggragators integration	Yes
Multi-location management	Yes
Report and analytics	Yes
Employee management	Yes

Free trial

Faq about multi-store POS

Can I monitor sales and inventory levels for each store individually?

Yes, you can access your store reports and analyze the performance of each store. and take appropriate actions at the right time.

Can I transfer stock between different store locations?

Yes, you can transfer stocks between your stores. The multi-store POS lets you identify low stocks and transfer across your locations.

Can I analyze the performance of each store separately?

The multi-store POS allows you to analyze and take appropriate business actions. You can analyze the reports of each store separately whether it is an online or offline store.

Is it possible to integrate other business tools and systems with a multi-store POS system?

Yes, you can integrate various business tools like CRM, accounting, inventory managing software, payments, online ordering, and e-commerce platforms. POS simplifies managing those business functions and allows you to manage them through POS.

How can I get started with a multi-store POS system for my business?

You can set up your LithosPOS account within 5 minutes. and start selling with it. LithosPOS is one of the leading point of sale software providers.

blog Customer experience Restaurant Retail Small businesses

What is Stock Keeping Unit (SKU)

Post author By Sadiq Lithos
Post date March 7, 2023
3 Comments on What is Stock Keeping Unit (SKU)

Everything you need to know about SKUs | LithosPOS

What Is a Stock Keeping Unit (SKU)?

SKU stands for a stock-keeping unit. It is a unique identifier business assigned to a specific product for managing and tracking each product on the inventory. SKU is an identification code made up of letters, numbers, or a combination of both. It contains information such as the product’s brand, manufacturer, design, color, size, and other unique characteristics that distinguish it from other products.

It is used not only in retail, wear houses, and logistics but also in e-commerce platforms to enable customers to easily search for and purchase products.

SKU number examples

SKU number formats can differ based on the inventory management system of a company and the type of products they sell. Here are some SKU number examples:

XYZ5678-BLK-32: This SKU represents a pair of black pants in size 32, made by a brand with the code XYZ5678
PQR9876-BLU-8.5: This SKU represents a pair of blue shoes in size 8.5, made by a brand with the code PQR9876
LMN2345-YLW-12: This SKU represents a yellow notebook with 12 pages, made by a brand with the code LMN2345.

However, the format of SKU numbers may vary depending on the company’s inventory management system and the type of products being sold.

Why is SKUs important?

SKUs are really important when it comes to managing and tracking products in your inventory. It makes easier for your product categorization. Let’s dive deep and understand why you need to use SKU.

Inventory Management: SKU numbers help businesses to differentiate based on brand, manufacturer, design, color, size, and other unique characteristics. So it is easier to identify each item in your inventory and manage it.

This makes it easy to monitor stock levels, reorder products when necessary, and identify which products are selling well.

Sales Analysis: SKU gives you sales data for each product. that can be used to identify top-selling and worst-selling items in your inventory. It allows you to take pricing, promotions, and marketing strategies.

Operational Efficiency: The SKU allows you to manage and identify where each product is located in your warehouse. It makes operations more efficient and reduces the risk of errors and confusion.

Data Tracking: The SKU allows you to track the data related to each product such as sales volume, profit margin, and customer behavior. This data helps you to take data-driven decisions and improve overall business performance.

How to get an SKU for a product? and how to create

Creating SKU for a product means assigning an identifier code to a product. You can simply manage your inventory and sales by assigning this unique code to each product.

You can add there your product SKU number.

So, let’s see how you can create SKU numbers for your products

Determine what information you want to include in your SKU: SKU numbers include a variety of information such as product type, color, size, style, and season. Determine what information you are going to give on SKU. Give information that can easily identify the product.

Choose a format for your SKU: SKUs are a combination of letters, numbers, and both. It would help if you considered the combination of the first three letters of the product name, followed by the product size and color.

SKUs can be a combination of letters, numbers, or both. For example, you might use a combination of the first three letters of the product name, followed by the product size and color. Another common format is to use a combination of numbers that correspond to different product attributes

Ensure your SKUs are unique: Make sure you assign a unique SKU to each product. Otherwise, there will be confusion.

Implement your SKU system: after creating SKU then you can implement it on products manually or with the help of software.

Test your system: Ensure that your inventory management system is compatible with your new SKU system. Verify the system by doing inventory audits, monitoring sales, and modifying stock levels based on sales information.

Why you should want an SKU code on a product?

Here is the reason why you need to use the SKU code on a product.

Tracking inventory: By categorizing products with SKU, codes will be easier to find them from your warehouse. Monitor stock levels and identify when a product needs to be reordered.

However, it eliminates the errors that may occur in inventory and keep your inventory efficient and profitable.

Identifying products: By giving SKU codes to each product will help you to easily identify products from your inventory. Especially if you have the same product in different sizes or colors. So you don’t want to spend your valuable time finding products in your inventory.

Organizing inventory: Organizing your inventory is challenging. but giving SKU codes to your products it is easier to organize products. It helps your inventory efficient and organized.

Analyzing sales data: The SKU allows you to identify your top-selling and worst-selling items with the help of sales data. It allows you to plan marketing strategies and save you from financial losses.

Improving customer service: You can provide a premium customer experience by giving SKU codes for your products. As discussed above, SKU codes allow you to quickly find your product and its details from your inventory.

If you got an inquiry from a customer about specific product details such as its price availability then you can quickly find your product and give answers.

SKUs vs. UPC codes

UPC Codes (Universal product code): UPC is a code that is a standardized barcode system used to identify products at the point of sale. it is a 12-digit number code that is encoded into a barcode and scanned by the point of sale system. It can be used to track sales and inventory. it ensures the correct product is selling at the right price.

UPC codes are issued by the Uniform Code Council (UCC) and are unique to each product

SKU vs. barcode

Barcodes are used in retail operations to speed up the checkout process, reduce errors, and improve overall efficiency. SKUs are unique identifiers used internally by retailers to manage their inventory, while barcodes are machine-readable codes that contain product information and are used for efficient retail operations

Manual SKU management and Automated SKU management

Manual SKU management and automated SKU management are two different methods of managing inventory using Stock Keeping Units (SKUs).

managing SKUs manually is the process of assigning and tracking SKUs manually. This manual operation is done by employees who physically handle the product. They are using electronic records to keep track of inventory levels and sales. This method is mostly used by small businesses, which have small inventory to manage.

The automated SKUs are different from manual SKUs. Automated SKUs are using software and technology to assign and track. This can include barcode scanners, inventory management software, and point-of-sale (POS) systems.

Manual SKU management involves assigning and tracking SKUs manually, However, automated SKUs help you to keep your business efficient, improve accuracy and improve inventory operations.

SKU Number Tips

Here are some tips for creating and using SKU numbers effectively:

Keep them simple
Be consistent
Use a mix of letters and numbers
Make them unique
Consider variations
Use software to manage your SKUs
Regularly review and update your SKUs

What is SKU in e-commerce

You can assign a unique code identifier, known as SKU, to each of your products, as we discussed above. It helps you to track stocks, sales, and inventory. By using SKU e-commerce business management will be simple and efficient and helps to provide a premium customer experience.

How to use SKUs to grow your retail business

Track inventory accurately: Use SKUs for each product to keep your inventory efficient. It allows you to gain better insight into each product. By checking your inventory you can simply identify which product is selling higher and which is not.
Forecast sales: The SKUs are allows retailers to track their sales and offer a detailed report of your sales. It is useful to identify your sales performance and forecast future sales as well.
Amplify your biggest profit generators: By identifying your biggest profit-generating product you can increase the stock of those items and generate more profit.
Boost customer loyalty and satisfaction: The SKUs help to organize your product and quickly identify where it is located. It allows you to easily identify products and their details when customers ask. This will help you to enhance customer loyalty and satisfaction
Offer customers new suggestions—and increase sales: By using SKUs you can suggest similar products to your customers. by categorizing the similar types of products it will be easier to introduce your similar products.

How to automate SKU process using POS

Automating SKU processes using a Point of Sale (POS) system can help your retail business streamline its inventory management and improve the overall efficiency of the business. Here are some steps to follow to automate the SKU process using a POS system:

Choosing a POS system that supports SKU management: Choosing the right POS system is really important. You have to make sure the system has the capability to manage inventory and opinions to use SKU. Also, make sure the system can automate the operations such as generating SKUs and assigning them to the products.

Assigning: After choosing the POS system you can assign SKUs to your products. You can choose to assign SKUs manually or use the system’s automation features to generate SKUs automatically.

Develop a unified product database: To ensure that all your sales channels are using the same SKUs, create a centralized product database that is linked to your POS system. This will ensure that your inventory and sales data are accurate and up-to-date across all your channels.

Set up automatic stock tracking: After assigning all your SKUs to your products you can track products through the Point of sale system. This will allow the system to automatically update your inventory levels as products are sold or restocked, helping you avoid stockouts or overstocking.

Analyze sales data: You will get a detailed report from POS. This will help you to prepare a better pricing and sales strategy.

However, The SKUs are really important and beneficial to retail business owners to manage and keep their inventory as well as business.

FAQ

Can multiple products have the same SKU?

No, each product should have a unique SKU. It ensures proper tracking and differentiation of products.

How do SKUs differ across different industries?

SKUs can differ based on business industries. They may have changes in format, length, or the information included in the code.

How can SKUs assist in tracking sales and identifying popular products?

By associating sales data with SKUs, businesses can analyze and track the products and identify which item is selling(performing) best, and it helps to take exact decisions about inventory and promotions.

blog Customer experience

Drive Business Growth with Better Customer Experience Strategy

Post author By Rashid Lithos
Post date February 6, 2023
24 Comments on Drive Business Growth with Better Customer Experience Strategy

customer experience strategies | LithosPOS

A dynamic customer experience strategy plays a crucial role in driving growth in the restaurant business. A positive customer experience is critical to the restaurant business. It improves customer loyalty and enhances brand reputation and positive word-of-mouth referrals.

The ultimate outcome of a strong customer experience is improved customer satisfaction, enhanced customer loyalty, reduced disputes, lowered serving costs, and improved lifetime value.

Here are several ways in which customer experience improves restaurant business growth.

Unfortunately, many restaurants did not comprehend the huge impact that customer experience can have on the success of their business. The most significant measure of customer experience customer feedback surveys is often ignored.

However, in order to provide a great customer experience, it is crucial to combine cutting-edge technology with customer-centric business practices such as the latest problem-solving solutions, streamlining of the point of sale process, automated workflow, and empathy towards customers.

Difference between customer experience and customer service.

Customer experience and customer service may seem similar, but they are quite different concepts with distinct implications for businesses. Customer service refers to interactions between employees and customers, addressing customer needs, while customer experience refers significantly to all aspects of a customer’s interaction with a business, from purchase to support. It is a tactical approach aimed at supporting the journey of a customer with the business.

Advantages of investing in customer experience strategy:

Improved brand reputation:

Strong customer experience tactics help build your business reputation that can attract new customers and advantage over competitors for the business.

Increased Repeat Business:

People who have had a memorable customer experience at a restaurant or store are more likely to return, and they become your loyal customers. and this can lead to long-term growth for the business.

Enhanced Customer Satisfaction:

Offering a dynamic experience to customers can result in higher levels of customer satisfaction, which eventually can lead to repeat business and improved growth.

Positive Word-of-Mouth Referral:

Satisfied customers recommend the restaurant to their friends and acquaintance which can lead to an expanded customer base and increased business.

Increased Loyalty to Customers:

Satisfied customers are more likely to become loyal and regular customers which in turn improves your customer base and business growth.

Hence it is of utmost importance for restaurants to prioritize customer experience in all aspects of their operations, from menu design to service quality, from atmosphere and ambiance to staff training. Investing in customer experience is as important as investing in staff and ads.

Developing a customer experience strategy.

A thoughtful customer experience strategy begins with a clear vision and mission. A visionary leader should lead the team by creating a statement that serves as a principle for the team, aligning their efforts toward your business goals.

This communication should be simple and straightforward. Rewarding and recognizing your top-performing employee is an excellent strategy to motivate the team. The team leader should ensure that the whole team is aligned with a common goal. Make sure they are ready to put in their 100%.

When developing a customer experience strategy, you must involve every team member to have a solid plan which works. You as a team should be able to create a flawless experience that could put a smile on their faces.

Be the best at what you do, Being the best means delivering outstanding quality service, and keeping value and trust, so that we make every customer smile.

“you should recruit your staff with utmost care and thought Because they are the front face of your business. The attitude of your staff is foundational for customer experience. End of the day how you treat your staff at work affects the effort they put.

The Future of Customer Experience:

The restaurants must be equipped with innovative technologies to best serve the customers, technologies like cloud-based point-of-sale software with advanced modules to best serve customers. Nowadays several leading Point Of Sale software providers helps restaurants to streamline all their operations.

How does LithosPOS help restaurants deliver a high-quality customer experience?

Cloud-based point of sale software LithosPOS enables restaurants to deliver a great customer experience in many ways.

Grow repeat business with the easy loyalty program.

LithosPOS Loyalty is powerful, flexible, and easy to use. New customers can automatically be added to the program. It improves customer satisfaction and brings repeat business.

LithosPOS help restaurants analyze the number of visits and the customer purchases amount, to identify your most loyal customer. They earn loyalty points on every qualifying purchase and can redeem it in the future.

Cashiers can view a customer’s balance at payment screens and apply that balance during checkout.

Integrated payment option to reduce checkout time.

Faster Service: With a POS system, customers can be served faster and more efficiently. Orders can be placed and processed digitally with the help of ordering apps, reducing the waiting time for a server to take their order or to bring their check. This in turn leads to a more enjoyable dining experience.

Order Accuracy: POS systems help to take fast and accurate order, the order taken by the waiter will appear in the kitchen display system and it can be printed, so the chances for error is negligible. This leads to a more error-free dining experience, customers will receive their order exactly as they requested it.

Integrated Payment Process: LithosPOS has direct integration with 50 plus payment providers it reduces the checkout time and improves customer experience.

Accept all the ways your customers want to pay, Cash, debit card, credit card, or a combination of them. LithosPOS integrates with leading payment providers for a seamless checkout experience LithosPOS gives you everything you need to satisfy your customers and makes it easier to sell to customers, and it helps you to re-target them by giving reward points.

Choose Lithos POS to gain a real-time look into the trends and data that are driving your restaurant.

POS software like LithosPOS has revolutionized the way restaurants run and has had a big impact on improving the customer experience. POS offers various tools to give a great customer experience. Some of them are stated below.

Self-Service/Self-Order Solutions

Today customers are more technologically advanced than before. Today they love to experience tech advancement in every field, LithosPOS offers a self-ordering kiosk to enable your customers to check the menu and order and complete the payment from a kiosk. It improves the customer experience and reduces the workload of your server in a busy time.

Customer Data Collection: POS systems collect data about customers, like mobile numbers, email addresses, purchase history, and dining preferences, etc. This data can be used to offer personalized promotions and recommendations, delivering a personalized and enjoyable dining experience for customers.

Improved Customer Service: With a POS system, waiters have access to real-time information about today’s menu items and updated prices, making it easier for them to address customer queries and provide recommendations. This leads to a better customer experience.

Quick tips to improve the customer experience strategy of your restaurant.

Offer fast and quality service
Keep everything neat and clean
Do not compromise on quality
Offer multiple and flexible payment options
Create an enjoyable ambiance.
Take feedback from customers and act on it.
Offer takeaway options
Recruit adequate staff
Provide proper training to your staff
Buy an advanced pos system
Keep a suggestion board
Maintain a complaint box
Run a customer loyalty program
Conduct customer engagement events.
Collect customer data.

In conclusion, a POS system can significantly improve the customer experience in a restaurant. As it offers Faster service, high order accuracy, an integrated payment process, customer data collection, and top customer service.