Editor’s note: This blog was originally published in July 2018 and was updated to reflect our current product offering.
One of the most important things for vending operators, apart from maximizing their sales, is reducing operational costs. These two together can help you increase your bottom line. This is one of the reasons inventory management is so important: it helps save time and money by making restocking more efficient.
Why Do You Need Inventory Management Tools?
Inventory management tools found in a vending management system can help improve the operational efficiency of your vending machine business. By automatizing processes and streamlining your business, you can save time, save money on labor costs, and have the peace of mind you need to focus on more important matters. Inventory management software acts as your assistant, taking care of menial day to day tasks 24/7 and helping you streamline operations and drive growth.
What Are the Best Vending Management System Features for Inventory Management?
This article will highlight the most important vending management system features to help you manage your inventory efficiently and effectively.
Product Maps & Picklists
When you know the exact amount and type of products that need to be restocked, you can restock your machines more efficiently. This is where product maps and picklists come in. Product maps and picklists help you stay on top of your inventory at all times, helping you save time when restocking, reduce spoilage, and save on labor and fuel costs.
A product map lets you know which products are located where in which machine, and a picklists allows you to add a numerical value to your product maps so that you know not only where the product is located, but how much of the product has been stocked. A telemetry terminal then helps provide you with real-time information on sales made. This information is synced with your desktop or mobile management system, and lets you or your staff know which products have been sold on any given day.
With the help of product maps and picklists, you know exactly which products need to be restocked and where. This helps you and your drivers save time, and reduces unnecessary machine visits. Loading the exact amount of products you need onto the truck before you head out and knowing exactly which machines need which products helps you plan your routes better and more efficiently.
Accurate Restocking with Visit to Visit
To make picklists even more effective, the Nayax Core management suite offers a unique feature that gives operators the option to generate a picklist using statistics collected from their last machine visit. The Visit to Visit feature, technology unique to Nayax, looks at the sales that occurred between your upcoming visit and your last visit, allowing you to prepare the exact products that need to be restocked.
The Visit to Visit feature takes a manual snapshot of the machine’s inventory status any time a machine is visited for cash collection or restocking and staff has confirmed that they have serviced the machine with the press of a button. This feature gives a fuller overview of specific vending machines’ activities and sales, helping further streamline operations for Nayax operators.
Remote Price Change
The primary focus of inventory management is the products, but you also need to consider price when you discuss products. Remote price change can help you manage product prices remotely. With this feature, you can react quickly to supplier price increases, raising prices of a specific product accordingly without having to visit your machines. You can also use this feature to lower prices for products at a specific machine that are nearing their expiration date, or dynamically change prices based on seasonal trends or consumer behavior.
And of course, none of these other features have any value if your vending machines aren’t working. Smart alerts help you stay on top of your vending machines 24/7, notifying you of any issues. Temperature alerts, loss of communication with the server, loss of power, inventory alerts based on your picklist numbers, you name it. You can customize these alerts via the MoMa 2.0 vending management app to decide how you want to receive them (either via push notification or email) and when you want to receive them (24/7, only during work hours, only during the week, etc.). These alerts increase your machine up time, ensuring that your machines are working and selling products as much as possible.
The Nayax Core vending management system is jam-packed with features that can make your operations more efficient and make it easier to remotely manage vending machines at any given location. Contact us to find out more.