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Furniture retail is a very competitive arena. There are countless stores that offer similar products to a specific target market. Furniture inventory software that offers features to specify the promotional treatment needed for each item in the store enables retail outlets to stand out from their competition.

Most inventory software programs have several components and capabilities. Order Management automates the purchasing of items that have run low; Service Management keeps track of service-related supplies; Barcoding stores product data identified through the bar code; and lastly, Asset Tracking follows the whereabouts and numbers of every item.

With the Asset Tracking feature found in most retail software, the furniture retailer can quickly identify the current location of a certain product in the store, how many there are in inventory, and how long the item has been there. This feature also identifies a product’s availability on the market and informs the storeowner when it will be available for delivery to the store. All these capabilities provide the staff with an overview of the items that can be promoted and the type of promotion to implement.

When the furniture inventory software indicates that a product has just arrived or been delivered, the staff can take the appropriate action with regard to publicity. For example, they can change the layout to accommodate a section of the store intended for “New Arrivals” or “Featured Products.” A “Discounted Products” area can also be established to gain customer interest.

If the Asset Tracking feature of the software shows that several products still have many pieces left in storage, then an “All Supplies Must Go” or “End of Season” sale would be an appropriate promotion. The space those items occupy in storage will eventually be worth more than selling the items at the Suggested Retail Price. Therefore, it’s a good idea to clear out the inventory and simply sell these products for a more affordable price.