If you’re new to the concept of inventory tracking, this article shares a few basic tips on how to name your products, and set up your inventory software or spreadsheet to make it easier to track different types of items. Essentially, this boils down to carefully balancing quick human readability, while maintaining the ability to quickly sort and filter your products when needed.Continue reading
Inventory management methodologies, definitions, and best practices to manage and control your stock.
Consignment is one method of gaining a few extra sales, and increasing exposure of your products. The terms for consignment can vary a lot by industry, but it’s essentially a way to loan your products to a store (consignee), and they’ll pay your business a portion of the revenue if they sell it.Continue reading
It won’t be obvious to your customers, but drop shipping is a completely different way of fulfilling orders that relies a lot more on your vendors. This article quickly reviews the traditional retail fulfillment model and compares it to how drop shipments work.Continue reading
How little is too little? That’s exactly what your Reorder Point will help you determine. Let’s talk about the concept of reorder points, safety stock, and how to put those numbers together to make sure you have the right amount of stock on-hand.Continue reading