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Showing content with the highest reputation since 06/09/2020 in all areas

  1. 2 points
    Hello. We plan to add the Customer code field soon. And this field you can be used to loyalty cards.
  2. 2 points
    Hello Everyone! IT IS POSSIBLE! if someone have the same trouble that me because the router is too far of your point of sale or cash register, ill give to you this steps Note: I have Windows 10 and Im using an android emulator called Bluestacks 4. it doesnt support USB printers but you cant connect it through ethernet even directly from your computer. 1.- Go to Control Panel\Network and Internet\Network Connections 2.- Select your wireless and ethernet adapters at the same time 3.- Click Add to Bridge 4.- Plug your Printer with ethernet to your computer Note: your printer need to have the same ip range that your internet router. For example: if your router gateway is 192.168.1.1 your computer will have 192.168.1.XX IP, then your printer will need an 192.168.1.XX static IP. 5.- Go to loyverse POS, and configure a new ethernet printer and put the IP that you defined previously and it's DONE! Its better to connect a thermal printer through Ethernet than USB. USB sometimes induce issues of compatibility with some printers. Ethernet has too much more compatibility with loyverse, if you have some printer that works with issues through USB, through ethernet will work quite correctly. Greetings, hope this post help you sometime...
  3. 2 points
    Successful small and medium businesses usually have several sales channels. If you want to have a stable business model, consider improving the variety of your sales channels. There are three main types of channels: offline store or business (brick and mortar), e-commerce, and online marketplaces. There are different types of data that retailers need to synchronize between selling tools of different channels: orders, reports, inventory, and customer information. Orders - you have to receive and process orders and sales from different channels. Reports - you need to have consolidated sales data, that allows you to see statistics as a whole and the sales by different channels to evaluate their effectiveness. Inventory - you need to update the inventory changes of your products from different sales, as well as to manage to order and receive products. This will prevent selling products that you do not have in stock. Customers - you have to identify your customers and track their purchases from different channels. We composed the list of online cloud-based platforms that can help businesses to manage multichannel sales. Before choosing some platform, you need to have a list of your current sales channels, as well as a potential one that you will open in the future. Check if some platform has an affordable way of integration with your sales channels. Find out if the possible platform provides you with synchronization of data that you need to manage your retail business successfully. TradeGecko TradeGecko is a Singapore based software-as-a-service company that develops online inventory and order management software. TradeGecko has integration with the popular e-commerce platforms and marketplaces, as well as shipping and accounting platforms. It can synchronize orders and inventory to prevent overselling. TradeGecko also allows selling internationally with multiple currencies and has warehouse management features that assist in the management of inventory movement within a warehouse. EasyEcom EasyEcom is an inventory management solution for retailers with Indian origins that provides control over channels such as eCommerce, physical stores, wholesale, etc. The platform has integrations with major eCommerce and marketplaces like Amazon as well as ERPs. EasyEcom provides a central order management system and inventory management for multichannel sales. Stitch Labs Stitch Labs is a service developed by the company from San Francisco, USA. Stitch operations software streamlines retail operations management such as purchasing, inventory management, order management, fulfillment, and reporting. Stitch Labs has integrations with a few popular e-commerce platforms, market places, and POS. You can also integrate it with accounting, B2B wholesale, and logistic software. Unleashed Software Unleashed Software is a New Zealand-based software-as-a-service company that provides cloud-based inventory management. It has integrations with popular e-commerce platforms and the Amazon marketplace. The service also has alliances with many other software: accounting, CRM, and analytics. Unleashed includes B2B eCommerce Store and Unleashed Sales App that works in synchronization with cloud-based service and allows making sales and managing customers, products, and orders on the road. Zoho Inventory Zoho Inventory developed by an Indian-base company is an inventory management software. Zoho has a suite of software that covers many business needs: accounting, analytics, CRM, help desk, project manager, and much more. Integration with them can significantly extend the functionality of the Zoho Inventory. Besides, the service has integration with other popular marketplace services (Amazon, eBay, Etsy), eCommerce platforms, as well as other services. Zoho inventory can consolidate sales from multiple channels by managing orders and adjusting inventory quantities across all channels. Anchanto SelluSeller from Anchanto, a company with HQ in Singapore and offices in the Asia Pacific region, is a SaaS-based platform that enables businesses to manage their ‘end-to-end’ eCommerce operations across multiple channels. SelluSeller Anchanto has Wareo - a platform for managing warehouses. SelluSeller can manage multichannel sales and has integrations with many popular marketplaces and e-commerce platforms. The service has inventory/stock and order management functionality that can consolidate orders and stock from multiple channels & regions synced to one platform.
  4. 1 point
    We assume that the problem is related to the update of the Sumup application. As a temporary solution, we suggest you download the previous Sumup application. You can do it by this link https://www.apkmonk.com/app/com.kaching.merchant/#previous and download the version 2.7.9.
  5. 1 point
    Looking to get this developed, where the client can order direct from their own mobile device at table, and also the option to order ahead from their own device. Anyone else interested in something like this? We wouldn't mind partnering with others to get this implemented and split the cost. So many opportunities with something like this. Basically, the ordering is done thru a website that is connected to Loyverse thru API. This avoids clients having to download an app or anything complicated. Needs to be super simple for client to operate from their own device, and they can order, and ask for the check when they are ready to pay. Further integration would be to allow customer to pay thru their phone as well, but for now, payment can be processed externally. Let me know!
  6. 1 point
    Hello, I'm Yasuaki. We are now preparing such integration. We will make it available as soon as possible. Best regards,
  7. 1 point
    I want to Connect Loyverse POS to our Website (shopify platform) is there any Possibility.?
  8. 1 point
    Hello, Unfortunately, there is no such feature. But soon you will be able to delete your account and register new account with the same email address and start anew.
  9. 1 point
    Hello, To request items of particular page you would need to use "cursor" query parameter: https://api.loyverse.com/v0.7/items?cursor=<string>
  10. 1 point
    I would be interested in this. If you could please let us know when it will be available. Thank you.
  11. 1 point
    Hello, I am currently using WooCommerce and Loyverse POS without integration. I am planning to use Loyverse API to integrate these two platforms. I was wondering if any of you had such experience already and can give me any advice what plugin have you used or can be used for modifiers in WooCoomerce? Looking forward to your ideas. Thank you in advance.
  12. 1 point
    I am setting up a loyalty card system where every plastic card printed has a unique customer barcode on it. To hack this functionality into the current Loyverse system, we are putting the customer's unique loyalty card barcode number after their name (eg - John Smith 476387358854) . When the customer sign ups, we enter their name and then immediately scan the card that we are giving to them so the barcode number appears behind their name. We can then quickly add the customer to future orders by scanning their loyalty card barcode into the customer search field. I have tested the above and it works, but it's a bit of a dodgy workaround. It would be very nice to have a dedicated field for this so you can search for your customers by name, phone number, or their barcode number and keep these details as separate fields. Is there any chance you could add a new searchable field to the customer database for storing a unique customer number (eg for a loyalty card barcode) ? I am sure many other uses would appreciate and make use of this feature too as it's a pretty common loyalty method. The name + number workaround works in the meanwhile if anyone else wants to implement it right now Cheers, Kapo.
  13. 1 point
    Hello. We are developing such functionality of a specialized field for bar-code in a customer profile. Please, check the announcement about new features released in the blog.
  14. 1 point
    Hey everyone, we have a very unique request to integrate into Loyverse API to extend something in our restaurant. If there are any programmers out there, we would like to talk to see if this can be accomplished. Thank you.
  15. 1 point
    I'm looking for this solution too. Wouldn't mind paying to have it done (a plugin or something). Can you guys make this possible?
  16. 1 point
    There are a lot of reasons the customer does not receive the emailed receipt. The most common are: mistyping customers' email during entry or the email was sorted to the junk folder.
  17. 1 point
    With the current UK government guidelines just released it would be ideal at this time to have the ability for a customer to order directly from a table via an app. With the way Loyverse us already set up, how difficult would it be to add an ability for a customer to effectively be completing the POS bit themselves to order from their table? The order then marked as pending until payment is either received via a staff member taking a card reader for payment or payment via Paypal or card on virtual terminal like Square or similar? I often use the POS app on my mobile phone when I visit our own cafe, to simply raise an order with 100% Management Discount and send straight t the kitchen and front of house coffee machine KDS. It has always seemed natural for me that it should be possible for a customer to do this. The rest of the infrastructure is there already, with the menu set up and sending to printers and/or kitchen display system. It seems to be a natural extension of Loyverse. With restaurants and pubs due to open from 4th July, this would be a huge benefit to businesses using Loyverse in being able to comply with government guidelines. https://assets.publishing.service.gov.uk/media/5eb96e8e86650c278b077616/Keeping-workers-and-customers-safe-during-covid-19-restaurants-pubs-bars-takeaways-230620.pdf From latest government guidance 23rd June 2020 Steps that will usually be needed: Encouraging customers to order online, on apps or over the telephone to reduce queues and stagger pick-up times. Encouraging use of contactless ordering from tables where available. For example, through an ordering app.
  18. 1 point
    Hello Gemma. Thank you for suggestion. I will forward it to development team as a feature request!
  19. 1 point
    Hi, It would be beneficial to also see the number of stock left on the SALES screen (right next to the items name), also have a pop up message saying when stock is low, instead of email. Who checks email while working in a fast paced environment? Thanks, keep up the great work, the app looks great!
  20. 1 point
    I had the same problem I didnt know that there is a sliding delete option This works for me Thank You
  21. 1 point
    Hello everybody i think adding ticket throw API is very important to integrate with custom or normal e-commerce platforms, so i can integrate loyverse with my existing online platform Best regards
  22. 1 point
    Hello. Could you please, send the request from the owner email to help@loyverse.com with the request to sign out your POS (please, mention the POS name) from the device. After your POS is signout, you can enter to this POS from other device and continue receipt numbers.
  23. 1 point
    Dear everyone, EastRoyce (professional printer manufacturer) has a compromised solution for bubble tea /milk tea shop to print kitchen label item by item via loyverse POS ( android and iOS) then could paste it on the cup. Please watch this youtube video and read the description carefully.
  24. 1 point
    We have partner system integrator who can provide basic integration with eCommerce. But it is not ready yet.
  25. 1 point
    Hello. From the receipt photos that you have sent before, I can guess that this printer cannot digest the information received from the POS device. You can try to set this printer in a Text mode instead of Graphic in the Advanced settings. It is one of the problems of budget printers: they cannot perform properly. In many cases, cost savings are made at the expense of quality. Please, read my article:
  26. 1 point
    With the Advent of this virus many government officials are prohibiting physical traditional Restaurant menus and opting for single use / throw away paper menus. A customer facing option where they can place their own order at the table or using a kiosk when they enter would address that issue. Not to mention all the benefits of customers managing their own orders. Gel would be at each table do they can use before and after touching the tablet, in addition, staff can sanitize all tablets proper to customer seating. I imagine this wouldn't be such a difficult option to implement, basically just adding a new user permission which when enabled offers a different set of front end display options as well as limited functions. But its definitely something that any serious POS system will need to offer in the not so distant future. Another option would be to also allow customers to order ahead for dine-in, pick up, or even delivery using a customer app they can download. Client searches loyverse Restaurants based on city, and then select the one they want to order from. Or perhaps a QR code is issues to each restaurant so client can scan an easily our menu is displayed. This would then be a prime opportunity to tie in customer data collection for future marketing purposes.
  27. 1 point
    Yes, it is. Basically to integrate Loyverse with Woocommerce, you will need programmer. We are also asking development company to prepare integration.
  28. 1 point
    Hello @Gemma, Sorry, it looks there was an issue in sending Email to you so that I couldn't reach you. Now I just enabled API on your account. Please check your BackOffice.
  29. 1 point
    Hello @Mohammed, Yes, correct. API enable you to connect Loyverse and Online store.
  30. 1 point
    Hi. I am new to Loyverse. I am having a problem adding a second POS device. I was able to add my Samsung Galaxy A50 but after adding a second device (Samsung Galaxy SIII) and installing POS it doesn't add to tickets to the KDS display!! What am I missing?
  31. 1 point
    Hi there, are you looking at adding new QR code payments in South Africa? www.snapscan.com www.zapper.com
  32. 1 point
    Aggressive expansion of large retail chains leaves less and less market space for individual food stores. But they have undeniable competitive advantages. How to use them? In many cities all over the world, chain supermarkets grow rapidly, and they gradually lure customers from small stores. Their "baits" are low prices, a rich assortment of goods, and more comfortable shopping conditions. Of course, not everyone can resist the unequal struggle with the monsters of the market. Nevertheless, world practice shows that convenience stores can coexist peacefully with large shopping centers and supermarkets. After all, convenience stores or corner stores have several advantages over their larger counterparts. The most important is territorial proximity to consumers. Marketers estimate that if it takes more than 10 minutes to get to the supermarket, most people will prefer to purchase in a closer home store. Right assortment To best meet the needs of customers and make them spend more, the owner of a convenient store needs to understand who makes purchases from him and why. The first group of customers is those who purchase something for immediate consumption. As a rule, these are young people who buy ready-made food or drinks. The second group is those who shop in the supermarket once a week for food. These people go to convenience stores only for short-lasting products, such as bread, milk, vegetables, and fruits. The third segment is consumers who make all their purchases near the house. Among them, there may be people who do not have cars and, so the opportunity to go to a remote supermarket arises. This group includes pensioners and intensively working men and women who do not have time for great shopping. You have to form an assortment based on which customer group takes a more significant segment. There is no reason to compete with supermarkets, overloading shelves with goods. To satisfy the needs of visitors of a convenience store, present no more than three types of products of the same category in different price segments with an average assortment of about 3,000 items. Don't strive to take away from people the joy of weekly shopping when they go around the supermarket and fill up the cart with various products. We need to allow people to make small purchases quickly. Therefore, the assortment of small stores should consist of 2500-3000 of the most popular, recognizable, and high-quality goods. It is possible to determine what specific products consumers can't go without, by analyzing management information about sales and using questionnaires. You can ask the regular visitors to fill out a simple questionnaire for several product categories, and thank them for participating in the survey with some modest gift. Occupying shelf space with poorly selling products is an inadmissible luxury. According to research, many people stated that they do not like to visit a convenient store just because "everything is piled up, and it is complicated to choose." In such a case, you can reduce about 30% of the assortment, and the store will only benefit from this. A large number of poorly selling products increases the store's inventory. It leads to the need to increase storage space; working capital is frozen, some products deteriorate. Also, with too extensive of an assortment, the owners of small stores do not have the opportunity to make large-scale purchases of the same goods at a discount. Contrarily, the competent organization of the logistics process allows you to free up valuable trading space, quickly turn out money and always have fresh products on sale, which is especially appreciated by customers. It is best to automate the process of purchasing goods entirely. Loyverse allows you to set a low stock alert for each item. Upon reaching this level, the system sends a notification to the owner's email with items that have reached a low stock value. For example, if you have 20 items of a cookie in stock and fill in the low stock field with the number 3, you will receive a notification the next day at 10 am, after the balance reaches three or less. And the functionality of the Advanced inventory allows you to go even further and automatically enter all the goods into a purchase order if their level is below a specified minimum. Automation allows you to always maintain a stable assortment of the store, which affects the increase in customer loyalty. People must be sure that when they come to the store, they can always buy familiar products. A good option for the formation of the range for tiny convenience stores is specialization. Do not duplicate the range of neighboring outlets. This only increases competition. If the neighboring store is "strong" in meat, then it's better not to expand the assortment of this product. Instead, get another braking position, for example, fish, which provides consumers with choices that they will not find in a supermarket or another nearby convenience store. Time-saving Saving purchase time is another essential factor that can be used as a competitive advantage over a supermarket. To buy one carton of milk at the supermarket, we need to make a trip from the entrance to the shelves with dairy products, make a difficult choice among 10-50 items, then pay for the purchase. For this reason, many people tend to make single purchases at a store near their home, although the prices for goods are usually 5-10% higher than in chain supermarkets. Compare how much time people spend to make a single purchase in a small convenience store and a supermarket. This action takes, on average, 3-5 minutes. In a supermarket, it requires 2-3 times more time. However, all these advantages may not be available if there is a queue in the corner store. The more simple a person can make a purchase, the more willingly he or she visits the store. If the buyer is facing a complicated process of buying goods, it reduces loyalty to this store. The most natural solution to the queue problem is to increase the number of cashiers. However, this is far from being always beneficial from an economic point of view. For example, if queues arise only for a few hours when people return from work, the store owner will still have to pay the extra cashier for the downtime. If trading in a store is conducted through the counter, it is necessary to form the assortment in the departments so that the distribution of customers among them becomes uniform. - To do this, you can sell products in several departments. For example, juice - in the department of fruits and vegetables, milk - in the gastronomic department, etc. The most radical way to deal with queues is to organize a self-service trade. Contrary to popular belief, a self-service scheme can be implemented even in a store with a small area. Nowadays, using modern POS systems that work on Android and iOS tablets, for example, Loyverse POS, can make the sales process easy and fast. Loyverse allows you to connect a separate barcode scanner (which is convenient if you have an influx of customers) or to use the built-in tablet camera (if you do have a small customer flow and want to save on equipment). Selling goods by scanning barcodes significantly increases the speed of customer service at convenience stores and also helps to avoid errors in entering incorrect prices. Customer focus The unique competitive advantage of convenience stores, which cannot be realized in any supermarket, is a particular attitude towards the customer. Since the contingent of buyers in small stores is stable, their sellers know regular customers. And if you want, you can easily remember the preferences of each person. As for supermarkets, it is impossible to provide an individual approach to the client there, no matter how high their level of service may be. A person who gets into the supermarket has the feeling that he was on a well-functioning conveyor. In it, service is put on flow, while convenience stores can work with each client individually. It is essential to create good conditions for sellers: to maintain a warm atmosphere in the team, a decent level of salary. When the seller comes to work with joy, this condition is transferred to customers. If the seller of a small store is attentive to each specific buyer, over time, a particular communication ritual may develop: "Hello! It’s been a while since I last saw you here!” “For you, as usual?” Everyone is pleased when someone recognizes you and gives you individual attention. Buying goods in such a store is psychologically more comfortable. And for such loyal customers, it becomes much more difficult to lure to some other place. Loyverse POS also allows you to create notes on the preferences of registered customers, as well as view their history of previous purchases. It helps sellers to take care of their customers and provide them with the best service. The store's work schedule must match the rhythm of the life of the targeted group of customers. For example, if a shop is open until 19-20 o'clock, although the nearby living people work until later, this means that those working people are automatically excluded from the number of potential visitors. You can attract customers to the convenience store with incentives. A loyalty system is a universal tool used by almost all large retail networks when discounts are offered to customers, participants of the system. The same can be done in a small store. Loyverse POS has a built-in loyalty system; it allows you to set the percentage that will be given to the customer’s account from each purchase as a bonus. The buyer can exchange these bonuses for a discount on subsequent purchases. It motivates the buyers to return and thereby become regular customers. You can also give customers gifts after they have made several purchases for a certain amount: a cake, a box of chocolates, etc. The gain from implementing such programs is noticeably superior to investments. Memorable events So, suppose that a good assortment is formed in the store: sellers are courteous, customers are served quickly, etc. What else can a store owner do to tie a customer tight? Studies show that in residential areas, small shops can play the role of social centers. They can implement all kinds of entertainment and information programs - for example, holidays for children, evenings for senior citizens. If some exciting events regularly occur, this will attract attention. It is convenient to remind about the store’s existence and the promotions held in it on social networks, as well as through thematic mailings to regular customers. It is inexpensive, and it brings good returns.
  33. 1 point
    Hi I see yoco has recently introduced a payment request feature on their platform , as you have integrated (much to my delight) them into Loyverse I was wondering if it would be possible to integrate this feature into a billing option as well. I think it is an ingenious solution taking collection orders with payment preapproved. not so much a question more a feature request. thanks
  34. 1 point
    I would like to have integration with Gloriafood because they are also free systems
  35. 1 point
    It would be nice, if you could make integration of work of customer facing big screen on Sunmi T2 device, so that it would show the customer receipts.
  36. 1 point
    I have an item, coffee, with different variants ( with milk, Black coffee, etc..... ) can I create a composite item from each variant?
  37. 1 point
    The main requirements is to use images in square shape. Therefore if you upload an image with a different shape, you will have a dialog screen to crop the image to a square. Adjust the square to fit the portion of the image you wish to crop. Click the Confirm button. Supported Image Formats: Color or b/w File size - up to 10Mb No restrictions on resolution Valid file format: jpeg, pjpeg, x-png, png, gif, bmp.
  38. 1 point
    Hello, Example: Selling a drink called Mojito It is a composite item So when making a sale i want to have the option of choosing the liquor that will be deducted from the stock. Mojito with: Havana Club Bacardi etc. I also want to have a modifier that lets me make it a "double" so when i make the choice "double" then it will deduct 8cl. instead of 4.cl from the previously chosen liquor As it is now i need to make maybe 5 different items for the same cocktail, and its several different cocktails. so instead of maybe 30-50 cocktail i can end up with 200. it makes the POS very messy and tiresome to deal with. How can this problem be solved? Am I the only one that want to have a feature like this for an item?
  39. 1 point
    Their API is located at : https://github.com/GlobalFood/integration_docs/tree/master/ Integrating this would be a HUGE step for Loyverse and would allow it go grow quickly as a the preferred POS for small businesses. We need something like this or similar that we can have push orders to us from online.
  40. 1 point
    I want my customers to be able to pay for items taken over a period of time. This allows them to take the items, and make partial payments on different days (installment plan). Currently, the open ticket system allows splitting the payments, but everything has to be paid the same time. How can I accomplish an installment plan.
  41. 1 point
    One killer gestire that you can add Is integration with: Gloriafood (delibery system app free) this the best service for recive delivery order. It Is free like your app. Just Est (food delivery - pay service) Deliveroo (food delivery - pay service) Also i ask to add xon/xoff protocol for fiscal printer (in Italy) this Is the most used protocol Thanks a lot
  42. 1 point
    Hi Karen!, I am a restaurant operator with 33 years experience, currently Chief Of Operations of a 22 unit QSR company.. I am currently in Beta Testing with Loyverse for our stores. As online ordering is a must in today's market, we thought out of the box. And I must say the result is very good. There are plenty of quality 3rd party online ordering systems available. I will not recommend a specific one in this forum, however a diligent search of the web should return some good candidates, some free, some not. There are good choices in both categories. Remember, Loyverse runs on an iOs or Android system. And many of the online ordering systems can send your orders via an app you can download onto the same tablet that loyverse is running on, or another separate tablet if you choose. (We use 2 separate tablets). There are MANY business advantages to this approach. As we have found, keeping the online and pos separate, we have gained a dynamic ability to modify specials and offer profit driven menus online, and a broader offering in store As generally speaking you can control the online ordering and pos menu independently. Second, we have reduced ordering errors. when a team member must input the online order in to the pos, it can act as an error buffer, many times a team member can spot problems before the order gets made, whereas in an integrated system, many times the kitchen ticket just prints, and a potential check for problems is missed. You must also learn to embrace simplicity in this approach. There will be a savings in the reduced training time and general SNAFU problems inherent in many common pos software and platforms. The time you spend dealing with all of that is worth something. Somewhere along the way the major pos providers convinced us we needed all the bells and whistles to thrive. I am here to say, No you don't. Sometimes a simple approach to the solution is practical, and best. I think at least in regards to the future of restaurant tech goes; Its best to deal with people who do one thing well. Loyverse has made a very well designed and simple product. And as I stated previously there are many Online ordering providers out there who do a terrific job, for little to no cost. And i must also state there is an enhanced degree of security that will be had from this approach, when your systems function independently of each other; The risk of your entire systems being exposed to Malware or attack is very greatly reduced. The very nature of isolated systems is a very secure approach. Best Wishes In You Technical Endeavors
  43. 1 point
    A killer feature for us would be to integrate with an app so that we could set up collection or delivery option and a customer could order and pay for anything available.on our Loyverse Inventory, I.e. self ordering remotely or in our cafe. Being able to link a Loyverse App to our own account and then make available to customers would be a truly useful and business enhancing feature.
  44. 1 point
    Integrate Loyverse with Quickbooks Online please.
  45. 1 point
    Dose Loyverse integrates with quick books or Xero or any accounting software cloud-based? If not, is it in the plans?
  46. 0 points
    Alas, this feature is not available in the Loyverse POS.
  47. 0 points
    Give them a meal and tell him to come back at the end of the day so he can take away the waste. Believe me, they will be grateful and will come back and help you. We have 3 homeless people who comes reguraly and they clean the street, help us pack the tables, stuff like that. And our customers sometimes buy coffee or food and ask us to give it to them. If you do good, the world around you will give it back.
  48. 0 points
    The average age of inventory shows how many days it takes to sell a piece of inventory. The calculation formula is: Average age of inventory = 365 / Inventory turnover or Average age of inventory = (Average inventory / Net sales) * 365 Inventory turnover = Net sales / Average inventory Average inventory = (Beginning inventory + Ending inventory) / 2 Net sales is the Cost of goods sold 365 - days of the year An example: The retail company’s inventory value is $1 billion and Net sales are $5 billion. In this case, the Average age of inventory is (1000000 / 5000000) * 365 = 73 days. The average age of inventory indicates how successful the retail business is. The lower the value of the average age of inventory, the more successful the retail company. And vice versa. If the average age of inventory high, it means that the company hasn't been very successful.

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