INNOVATION = POS system.

Have you heard the word POS? The word POS may be unfamiliar to people, but you may have seen the computers or machines like the picture above. Today we can see POS systems everywhere, not just in big markets, but in small restaurants and even hospitals. That has become one of the most important systems in store mangement.

1. POS (point of sale) system :  A system that collectively manages data related to sales and collects customer information to improve value added.

2. The first cash register was the brainchild of James Ritty, a “dealer of pure whiskies, fine wines and cigars”. In 1879, Ritty invented the “Incorruptible Cashier,” a device that registered transactions made at his business. Some time after that, he patented his invention and sold it to salesman Jacob H. Eckert, who founded the National Manufacturing Company (NMC). Eckert later sold the company to John H. Patterson, a retail coal shop owner in Coalton, Ohio. Upon acquiring the business, Patterson renamed the company National Cash Register (NCR), which still exists today. He also added new features, such as custom employee drawers and bells, as well as the all-important paper receipts. In 1906, inventor Charles F. Kettering, who worked for NCR, developed the first cash register powered by an electric motor. The device made it faster and easier for cashiers to ring up sales and keep tabs on transactions. By the mid-1900s, the cash register had become a staple in retail stores. In 1970s, innovation helped traditional cash registers evolve into computerized point of sale systems. It was also during these years that devices such as credit card terminals and touchscreen displays were introduced. With the advent of mobile POS in 2014,Mobile point of sale (mPOS) solutions have made such a huge impact in the industry that in 2014 a majority of UK retailers (53%) rated mPOS as the most important in-store technology for consumers. mPOS systems are also gaining market share. In 2015, the IHL Group found that mobile POS software installs are up 41% in North America year to year.



3. At its most basic level, a POS system functions as a cash register that lets retailers ring up sales and keep a record of those transactions in their stores. But thanks to advancements in technology, POS systems can now extend beyond the point of sale. These days, many POS solutions serve as retail management systems that handle everything from sales and inventory, to customer management and ecommerce.

    The benefits of point-of-sale systems are:

•Accuracy: Scanning is more accurate than punching in numbers from a sticker, or expecting the cashier to remember what each item costs.

•Analysis: POS systems let you manage inventory, flag items for reorder, and analyze sales patterns.

 

4. The software lets you analyze sales in different ways, such as by SKU (item sold), time periods, promotions, by store if you have more than one, or even by sales clerk. It will help your inventory manager buy in the right number of cartons of tissue paper with improved timing, and help your chef calculate how much to order for the coming week, taking into account an upcoming holiday. It can also help reduce employee shrinkage. A point-of-sale (POS) terminal can be networked to other terminals, and to a server in the back room or at another location. It can be expanded with handheld devices wirelessly linked to the main system. You can use it to can track a number of operations in useful ways and customize it as your needs change over time.

5. The POS system is indispensable to me who has worked in the kitchen for a long time. For example, suppose you work at a restaurant that doesn't use a POS system and maintains its old ways. It takes a lot of trouble and effort. Firstly, servers must receive menus from customers and fill out two orders that are one for servers, one for kitchens. People's handwriting is different, and of course there can be many problems. Secondly, can save the time. If the menu is suddenly changed by the customer, the servers may miss the delivery of the problem to the kitchen during busy times. Thirdly, order & inventory management. The POS simply allows you to generate statistics and thus help chef place the right amount of orders. Lastly, it can cause damage to customers. Handwritten receipts can cause a lot of confusion. Each person's handwriting can embarrass the customer or pay a different price.



Reference


MARKET INSPECTOR (06, Feb, 2019). 6 Benefits That a POS System Gives To Your Business. MARKET INSPECTOR. Retrieved from https://www.market-inspector.co.uk/blog/2015/07/6-benefits-that-a-pos-system-gives-to-your-business

vend (n,d). The History of Point of Sale (POS). vend. Retrieved from https://www.vendhq.com/pos