Is your Inventory Controlling You?

It may not feel as easy to record inventory and restock as it did even a year ago, so you’ll need to implement processes and systems equipped to handle your new workload. Basically, tracking items and making sure your business keeps the optimal number of parts or products in stock, whether it’s online, on the shelf, or both. While focusing on the removal of slow-selling products and increasing the number of high-selling, you’ll maximize your profits, while saving time, resources, and money with the least amount of inventory sitting in your warehouse. Customers typically will not wait for backorders or products with extended shipping times, they will simply look to your competitors to fill their orders. Ensure you have enough product to fulfill every order that comes through, as well as safety stock—stock that acts as a buffer to reduce an item being labeled “out of stock.” • Accounting Accuracy.