POS System

n.

Pronunciation

/pɑs ˈsɪstəm/

Acronym

POS

Definition

A technology suite used to capture sales in retail businesses.

Point of Sales systems (POS) are used in almost all retail business when the customer executes a purchase. Present day POS systems are robust and may employ a number of tools and means to track an individual's sale, including the use of barcode scanners, scales, and customer memberships, as well complete other business processes, including inventory management, employee timekeeping, label creation, and so on. Many companies employing large scale POS systems have the ability to control prices and pull other records from retail stores from the corporate office, without having to step foot in a brick and mortar store.

Category

Business

Related Terms

Point of Sale

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