Point of Sale (POS) Glossary
Inventory on hand is the available stock a merchant has in their possession. For example, a store might have ordered 500 pairs of sunglasses, sold 275, and has 225 remaining as inventory on hand. A point of sale system that has real-time inventory management can report stock on hand at any time. Those that do not would require inventory reconciliation for an accurate count.
If a POS system supports multi-warehouse capability, it can report inventory on hand across all stores and warehouses. This is extremely useful for pooling stock for an e-commerce store. If a store has a delivery service, customers can order any inventory on hand, and it could be delivered or shipped from a merchant’s warehouse or other location.
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.