8 Huge Inventory Management Mistakes

Inventory management is way more than taking a tally of boxes in your warehouse every six months. In fact, an updated inventory management system can give you all sorts of insights into your business, from tracking seasonal trends to understanding why certain products aren’t selling. Yet, plenty of companies continue to perform manual counts, making all sorts of egregious mistakes that cost their business vital money and time.

Inventory manager is making inventory management mistakes

Here are some of the worst inventory-related blunders made by more businesses than you might expect.

1. Refusing to Spend Money on Inventory Tools

Among new business owners, there is a rampant misconception that all you need to manage your inventory is paper, a writing utensil, and a strong ability to count, so it seems that spending money on inventory management tools is a massive waste.…

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How to Effortlessly Control and Track Your Inventory

Savvy inventory management is crucial to streamlining business operations, meeting customer demand, and improving profitability. While many business owners start selling without a clear inventory strategy in mind, keeping track of and controlling inventory levels effectively is vital to growing over the long term.

Inventory management

Here are some of the inventory management considerations every retailer or wholesaler should know.

Key inventory management stages

Foundation: Inventory management should start with a fundamental system of categorizing and naming products. Giving each product an SKU (stock keeping unit) ensures all your inventory is uniquely identifiable and easily tracked. SKUs can easily be created for products using an SKU generator.…

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What Every Small Business CEO Should Know about Inventory Management

CEOs of small businesses are generally expected to know a lot about running a business. However, there are some, especially the less experienced ones, who may need to get more acquainted with important matters such as inventory management. For small businesses, being able to properly monitor and manage inventory is a must. The failure to do so can lead to dire consequences.

Small business owners

Inventory Management Is Extremely Important

Good inventory management is a vital part of running a small business. Even service-oriented companies have inventory to manage, although not to a point that requires meticulous attention or the aid of an inventory management platform.…

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From Supply Closets to Multi-Facility Warehouses: Today’s Top SMB Inventory Management Solutions

Tracking inventory is essential in many small businesses, especially if you run a retail business. But there is much more involved in inventory management than simply tracking your products.

Inventory management

You also have to manage the pricing, the timing, the quantity of your orders, the best time for restocking particular products, the costs of your storage, and a lot more. A good understanding of your inventory is essential, and you must know how to manage it effectively.

Inventory management solutions give you much more control over your inventory, and they help to make this aspect of your business much easier for you, freeing your time up to focus on other tasks.…

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3 Tips for Managing Your Inventory as a Small Business

As a small business owner or manager, you likely have a lot on your plate already. However, one area you can’t afford to take chances with from a business standpoint is in regards to your inventory.

Inventory management

If your inventory isn’t properly managed and accounted for, you could have innumerable problems within your business. From losing money to losing customers, inventory issues can really set you back.

To help you avoid running into problems with insufficient inventory management, here are three tips for better managing your inventory as a small business.

Have the Right Storage Space

Depending on the type of business you’re running, you’re going to want to have a set amount of your product stocked and ready to go when a sale comes in.…

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