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An Stock Control encompasses all aspects of managing a company's inventories; purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering.

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Adv:

Financial Accuracy:
One advantage of EPOS systems is the increased financial accuracy when charging customers.

Speed & Efficiency:
EPOS systems greatly improve the speed and efficiency of transactions, which will appeal to customers and help your employees focus on serving more people. This can improve your customers' overall experience and encourage repeat custom in the future.

Disadv:

Cost:
Overall cost is likely to be at the forefront of a business owner's mind when considering an EPOS system.

Maintenance:
An additional issue associated with the use of EPOS systems is the regular maintenance requirement.

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EPOS- Electronic Point Of Sales. It enables an efficient recording of the sale of goods or services to the customer.

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The use of computers to manage the amounts of stock in a business so that customer demands can be met without delay.

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Stock control, otherwise known as inventory control, is used to show how much stock you have at any one time, and how you keep track of it.

It applies to every item you use to produce a product or service, from raw materials to finished goods. It covers stock at every stage of the production process, from purchase and delivery to using and re-ordering the stock.

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In 1992, Martin Goodwin and Bob Henry created the first point of sale software that could run on the Microsoft platform named IT Retail.

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Advantages of Electronic Point of Sale

Higher checkout productivity can be gained using EPoS systems. Customers will be served much more quickly compared to if they were being served on a traditional cash register or a manual checkout system.

This is because every product is stored within the EPoS system. When a till operator scans the products barcode it retrieves the items price and product information. This is far quicker than manually typing the price into a cash register.

Because of the barcode an EPoS systems will reduce the chance of human errors, data duplication, and data entry mistakes.

A standard EPoS system setup includes a terminal, scanning equipment, credit card reader and a receipt printer. A scanning device that is similar to a barcode reader is used to read the information about a product and is able to process is quickly and accurately.

As mentioned above they will eliminate the need for time consuming manual processes.

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EPOS stands for Electronic Point of Sale digital system and is a computerized system used in shops, restaurants and other retail outlets.

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Level 1
Explain EPOS

Explain EFTPOS

Level 2
Give 2 Adv and disadv of
EPOS
EFTPOS

Level 3
Explain what is meant by Stock control

Research on when was the first microprocessor-controlled cash register systems used and by whom