We’re used to thinking of physical products as one-time rather than recurring purchases, so why might you want to start a subscription box business? Until recently, the idea of paying for something on a monthly or bi-monthly basis was reserved for services like electricity, TV, and phones. Subscription box businesses are trying to change that. […]Continue reading
Inventory management methodologies, definitions, and best practices to manage and control your stock.
Inventory control is simply the process of tracking the quantity, movement, and value of your products. In the past 11 years of helping small businesses with inventory, we’ve heard many customers call this process both inventory management and inventory control, so we consider the terms to be interchangeable. Who is inventory control for? Inventory control […]Continue reading
Most inFlow articles are about inventory management, but we also wanted to take a moment to discuss asset tracking. If you haven’t heard of asset tracking before, think of it as monitoring the equipment and supplies you use to run your business. Most businesses keep the invoices computers, supplies and software, but that only […]Continue reading
Units of measurement (UoM) can help your business get really specific about your inventory levels. They’ll tell your warehouse team how a product will be coming in (e.g., in boxes or on pallets) and they’ll ensure that your customers won’t see any weird quantities on their invoices (e.g., 0.5 boxes instead of 10 sunglasses). It […]Continue reading
Just like anything else in your business, it’s important to have a process for receiving and putting away inventory. Here at inFlow we like to break that down into three distinct steps: counting what you received, checking the packing slip against the purchase order (PO), and then labelling and putting away your products. If you’re […]Continue reading