POSTS TAGGED : inventory management

6 Reasons To Use Metal Tags And Labels For Your Inventory

If you’re a business owner, you know how important it is to keep track of your inventory. But what if you could do more than just keep tabs on your on-hand items? What if you could make that inventory work for you in ways it never has?

Scanning inventory label

In today’s world of inventory management and supply chain management, it’s essential to have the proper tools to properly keep track of your inventory. When trying to keep track of your inventory, you want to ensure that your products can be easily identified. Metal tags and labels are one of the best ways to do this because they’re easy to use and can be customized with just about any type of information you need.…

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Salon Inventory Management is a key to Retail Sales

If you are a Salon Owner or a Manager, at least once you would have entered into the stock room only to find out the product has run out of stock. Moments like these can bring an odd situation among you and the customer because they have visited your Salon for a particular service accompanied with a certain product and now you have run out of stock.

Salon business

When you run a Salon, you need to be clear about two things. What do you need and how much do you need. According to the Small Business Association of America, failure to manage stock inventory is one of the main reasons why Salons fail.…

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Take your inventory and logistics management to the next level with an impact recorder

A savvy business owner is always looking for ways to save money, cut costs and protect their own inventory while simultaneously ensuring they take care of the customer. One major pain point along that journey is damaged inventory, equipment or supplies. A solution to the problem of protecting your assets is necessary both for loss prevention and saving money.

Inventory and logistics management

A superb way to take up a defensive position in your own inventory and logistics management is to use an impact recorder to keep an eye on what’s happening with your equipment, measuring and preventing damage in the process.

What is an impact recorder?

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Understanding Inventory Management Software

If you have been in one of your city’s larger supermarkets, take a look around you. Right in that moment, you are bearing witness to one of humanity’s largest victories in logistics.

Using inventory management software

All these big shops move products around and across multiple storage units and store fronts from all corners of the world. One of the biggest retailers we know today has been reported to own warehouses in at least 50 countries. And when we convert these numbers into money, we could probably come up with a number similar to a the GDP of a medium sized country.

Given these huge numbers also comes immeasurable complexities.…

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4 Benefits of Switching to an Online Inventory Management System

There are several reasons why more and more people are turning to online platforms to shop. For one, they have a wider range of products to choose from, which may even include items that are only available overseas. The price points are also quite competitive and various payment options can lead to even more savings for the customer.

Using online inventory management system

But perhaps the most compelling reason for most people to buy online is convenience and speed. In fact, customers expect businesses to do everything they can to deliver the products on as quickly as possible, especially if the online store makes the delivery earlier than the promised date.…

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How to Create Smarter Inventory Management Solutions

Inventory management is about much more than just tracking down missing items. It’s about increasing your business’s efficiency, keeping shrinkage as low as possible, and ensuring that inventory counts are accurate. With accurate counts, you’ll never over-order, and you’ll always have your customer’s favorite items in stock.

A happy customer is a paying customer after all, so why not keep your inventory counts accurate? Here’s how to create smarter inventory management solutions for your business.

Man pointing at area of inventory management chart

Start with Your POS System

If you’re using a bulky, outdated cash register for your POS needs, it’s time to upgrade and move into the future.…

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4 Tips to Keep Better Control of Your Inventory

Inventory control isn’t just an issue for small business owners, it has almost shut the doors of major corporations. According to reporting by Business 2 Community, JP Morgan lost a staggering $6 billion in 2012 due to inventory spreadsheet errors. They also report that Hershey’s once failed to deliver $100 million in candy to stores in time for Halloween due to a failure in their supply chain system. It’s easy to see how quickly poor inventory control can put your business into an unstoppable free-fall, but difficult to know how to actually tackle it.

Inventory management and control

From the automotive business to medical field, there are ways to get a better handle on your inventory to keep your business running smoothly and profits intact.…

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7 Rookie Inventory Management Mistakes to Avoid in Retail

Inventory management is one of the most vital elements to the success of a new retail business. Keeping track of your inventory levels at all times helps you find products quickly (when you need to serve customers), understand your most popular and least popular products, identify sources of loss, and monitor and improve your profitability.

Inventory management mistakes

Unfortunately, inventory management isn’t as straightforward as it seems on the surface, and most new retail entrepreneurs end up making serious mistakes in the creation or execution of their overall strategy.

The Biggest Mistakes in Inventory Management

These are some of the most common and devastating mistakes new retail businesses make in inventory management:

1.

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Managing Your Inventory for Next to Nothing

Inventory Management Software as a Service

As the owner of a small and medium-sized business, it’s understandable that you want to keep your business overheads as low as possible. However, in this age of cloud applications and software-as-a-service, there’s simply no excuse not to embrace software and technology at every turn in your business.

Inventory management solution

Right now, you’re probably using email, calendaring, tasks and collaboration applications for free. Your business absolutely depends on these applications. But if your business deals with products, or if you’re a wholesaler or distributor, then you can add inventory management software to this list.

What Can It Do For Me?

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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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