The greater need for stock and inventory control
According to the U.S Bureau, the total business inventory in the country is about to rise in coming years. This isn’t all that surprising, seeing as it is an expected response to a rise in consumer income. As the demand for products increases, businesses stock up on more inventory to easily meet this need. However, if operational processes aren’t optimized, taking on more inventory can turn into quite a problem for businesses. This is why companies need to invest in robust inventory control solutions in order to make the most out of this expected change.
Source : U.S Bureau of the Census
But what exactly is inventory control? In simple terms, inventory control means being able to constantly monitor your stock and keep tabs on how it changes over time. Doing this enables you to maximize returns on your inventory. Continue reading
EZOfficeInventory has made the list of FrontRunners* for Inventory Management Software. Making the FrontRunners Quadrant is a big deal! To earn a spot on it, companies were evaluated alongside 115 other products, and had to get a top score. EZOfficeInventory’s inventory management solution did just that! To see the FrontRunners Quadrant for yourself, click here. Continue reading
Small businesses are going through a tough time with the current state of the economy. Keeping costs low and profits stable is tough business, but small business owners are a nifty lot. They’re daring to be different, focusing on techniques as varied as viral marketing, pop-up stores, and community outreach to keep their consumers interested. However, some spheres of management never go out of style. Take inventory management as an example. There’s nothing like a good spring-cleaning of your stock room to help those falling overheads! In this post, we’ll talk about how a small business inventory control software can help your company out, and make it quicker, more efficient, and ready to improve that bottom line!
Inventory management isn’t just about keeping track of your products. You also need to be aware of how much you’re selling, what you’re using up the most, and when and how often you need to reorder stock. If you’re not using an automated solution to keep stock of these things, this can sometimes seem like a trial and error. You simply can’t answer these questions without access to proper historical data. This is where inventory control software comes in. Continue reading
Setting challenging business goals can give your small business a sense of purpose, enabling it to meet targets more efficiently. Once you have set your sales and revenue objectives, you can start to work on other related business strategies for the year. We say related because, as a sales business, everything you do must somehow be tied into improving and escalating your sales in the long term! Increasing sales involves a great deal of planning, executing, implementing and analyzing. There is no guaranteed way to boost revenues – there are far too many variables floating around – but your best bet is to reduce risk and control these external factors as much as you possibly can. You can achieve this kind of confidence by deploying the right tools for your business; in essence, off-loading some of the administrative burdens onto an automated tool to help you get jobs done quicker and more efficiently than before.
According to the United States Small Business Administration, 54% of all U.S sales come from small and medium businesses. These businesses in particular need to optimize resource allocation and utilization. In fact, this is one of the most crucial points to check off your list if you’re looking to grow your sales. If your inventory is in good shape, well-accounted for, and properly organized for shipping and distribution, you’re already on your way to giving your customers a positive retail experience! Continue reading
Inventory management and future trends
So you had a great idea, wrote up a business plan, and somehow, you’ve got a successful small business on your hands! You’re getting on well with your employees, staying up nights thinking of the next big step for your company, and all in all, you think you’ve got a good handle on things. But wait! Is all your business inventory accounted for? Are you confident in the ability of these items to work as they should, and to be present whenever an employee needs them? A great way to quell these concerns would be to investigate inventory control software for small business. This kind of system can keep track of the little things so that you can devote all your time to focus on the big picture!
The convergence of traditional and modern techniques has streamlined the process of inventory management for businesses. The age of technology brings with it new ways of inventory control, enabling companies to have access to more accurate and secure asset management techniques. For example, today many organizations tend to opt for Barcodes and QR Codes to keep track of their business assets and inventory. This facility can be extensively used to manage stock, and ensure the safety and quality of assets. Continue reading
Inventory control software is used in organizations all across the globe to improve ROIs and lower overheads. Although inventory can seem so unsubstantial, businesses must understand the importance of managing it well in the grand scheme of things. What lies at the core of good inventory management is a detailed insight into your stock, reports on usage patterns, and the ability to manage that data quickly and effectively.
When you implement inventory control methods, your business is fed with the much-needed fodder to fire up the cannon of stock optimization, and also by fulfilling vital demands of employees and customers. The marketplace today has completely changed. Customers simply don’t hesitate to share poor service experiences on social media. Even worse, they can easily switch over to some other company through a single click. For employees, on the other hand, limited access to resources needed to get their jobs done can significantly lower productivity, and cause blockages in operational processes. Continue reading