Point of Sale (POS) Glossary
Inventory count is also known as stock take, inventory reconciliation, and doing inventory. It is the process of physically counting every item in stock. This is often done using a handheld scanner to speed the process. However, it can be accomplished manually by writing down counts for every stock-keeping unit (SKU).
Some point of sale systems track stock in real-time, and inventory count must be done occasionally to reflect theft, breakage, inventory movement to other locations, waste, internal use, shipment errors, and various write-offs. Other POS systems do not track inventory, and the inventory count is used to generate current stock numbers.
Inventory count would need to be done more frequently for those point of sale systems that do not keep real-time counts. It would also be more difficult to pinpoint reasons for stock discrepancies in these cases.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.
You’ve probably been at the register at the grocery store and asked if you wanted to contribute money to a charity as you checked out. Maybe you donated, or perhaps you found it was annoying. It might have depended on your mood that day, or possibly the charity was a deciding factor.