Square Announces New Inventory Management Features for Retailers
April 22 2021 - 12:00PM
Business Wire
Easy Item Create, Quick Inventory Counting, and Smart Stock
Alerts provide retail sellers more insight and better control of
their inventory
Today, Square announced the availability of 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.
“Before we started using Square’s new inventory management
features, keeping track of our stock could have been a full time
job,” said Kamala Allison, owner of Fybr Bamboo, a clothing and
homegoods store in Santa Cruz, California. “Taking stock used
to be an all-night affair, but with Quick Inventory Counting we can
just use a barcode scanner to quickly and easily get an accurate
view of our inventory. Up-to-date inventory means no more
accidental sales of out-of-stock items, which is disappointing to
our customers, and Smart Stock Alerts enable us to improve cash
flow and replenish our best-sellers before we miss a sale.”
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.
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.
“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,” said Roshan Jhunja, GM, Square for
Retail.
To learn more about these updates, and how Square is helping
retailers prepare for the year ahead visit squareup.com/retail . To
hear more from Square about additional resources and updates on
Square products, please reference our COVID-19 resource hub.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210422005230/en/
Media Contact: press@squareup.com
Block (NYSE:SQ)
Historical Stock Chart
From Aug 2024 to Sep 2024
Block (NYSE:SQ)
Historical Stock Chart
From Sep 2023 to Sep 2024