Your safety stock and reorder point help you determine how low your stock can get before you need to order more. If you don’t reorder when you reach your reorder point, you’re likely to run out of stock. Safety stock contributes to your reorder point by accounting for things like: delays in shipping, sudden increases […]Continue reading
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Inventory management methodologies, definitions, and best practices to manage and control your stock.
When you’re managing your own small business, a lot of your time and energy is used up on day to day operations. So when you pick the tools to keep your inventory accurate, it can be easy to rely on the ones you are already familiar with. In fact, many of our current customers tell […]Continue reading
Our first article on inventory management covers product types that your business may deal with. It also shows you how to name items today, while still keeping an eye on the product lineup of tomorrow. In this post you’ll learn more about pricing schemes, units of measure, and how to indicate whether you are selling […]Continue reading
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
If your business doesn’t have its own storefront, you may want to consider selling a few items on consignment. You may have heard of consignment stores in the context of second-hand goods, but many retailers are also willing to take new products on consignment, as a way to bolster their own stock. This is a […]Continue reading