A point of sale (POS) is the place where sales are made. On a macro level, a POS may be a mall, a market or a city. On a micro level, retailers consider a POS to be the area where a customer completes a transaction, such as a checkout counter. It is also known as aÂ point of purchase.
With a POS system:
- You can analyze sales data, figure out how well all the items on your shelves sell, and adjust purchasing levels accordingly.
- You can maintain a sales history to help adjust your buying decisions for seasonal purchasing trends.
You can improve pricing accuracy by integrating bar-code scanners and credit card authorization ability with the POS system.