How Your POS Software Can Help You Get Better Prices From Your Suppliers
- By Bob Twain
Here's a quick and easy way to lower your cost of goods
sold and boost your profits....
Simply open your POS software and pull up a sales report
that summarizes the profit margin totals for each of your
Now use that information to negotiate better prices with
Let me explain...
Many retailers fail to ask for discounts because they don't
feel like they have the leverage of the big boys. In many
cases, that's simply not true. You simply need to ask. The
worst they can say is no. And you're more likely to get the
discount if you have some relevant information at your
For example, you could call your vendor and say, "I'm
looking at the reports in my POS software and analyzing the
profit margins for my business. I see that you're one of
our top vendors, but our margins on your products are towards
the bottom. In fact, they're 8% lower than our top two
vendors. We really like your products and we would consider
ordering even more, but we simply need to make more money.
What can you do about better discounts on a permanent
I think you get the idea. This is much more effective than
simply saying, "Can I get a discount?"
Now if you don't have a POS system you can get this
information, but it will take a very long time to generate
it. With the right POS software, you can whip out this
information in a few seconds.
You'd be amazed how just asking for better prices from your
suppliers can knock off a bug chunk of your inventory costs.
And having actual data in front of you makes it easier get
what you want.
Well, I hope that you find this information valuable and
If you need anything at all or have any suggestions for
me, don't hesitate to drop me an email.
If you're thinking about getting a new POS system, be sure
to check out The POS Software Buyers Guide. It includes
everything you need to quickly find the best POS & Retail
Management Software for your business. To learn more about
the buyers guide, go to:
To Your Success.
Did You Know About Our Other Products and Services?
Here are a few resources you might want to check out:
Content For Your Web Site Or E-zine
If you'd like to reprint the above article, please email me
your request and where it will reside, and I'll send you a short bio
and my website link to add at the end of the article.
To request permission to reprint any of our articles, contact us at: