As a small business owner, you may think that your company doesn’t need a high-powered inventory management system. After all, you only have a few products and all of your inventory can fit into one small warehouse space, right? You may even think that inventory management is something only large companies need because size is the determining factor in the efficacy of your organizational system. While we understand why you might think this way, we want you to understand that such thinking may, in fact, be limiting your business’s expansion.
Inventory Management Matters, Regardless of Size
If you’re selling products, you need to keep track of your inventory. This is true no matter how large or small your warehouse is, or how limited your selection is. In the beginning, you may be able to keep track of all of your inventory on a piece of paper or through a general spreadsheet program, but what happens when your business grows and you’re suddenly pushing to satisfy demand, ordering more products, and expanding your customer base? That spreadsheet system likely won’t’ be sophisticated enough to keep track of everything happening on a daily basis. Before you know it, you may find it almost impossible to have an accurate idea of how much product you have on hand at any given time. A good inventory management program will help you keep track of:
- How much inventory you have
- Competitive pricing in the industry
- Shrinkage or loss of product
- What products are flying off the shelves and which are just taking up space
Keeping track of these few things will streamline your ordering process as well as help you make smart decisions about which products you wish to carry or seasonal trends that affect the sale of certain items.
Inventory Management Software Helps Your Business Grow
When you know what you’re spending on the products you carry and can compare that data against the total sales each day, week, and month, you’ll be able to better analyze your business. Once you see the data, you’ll have a better understanding of which areas of your business need to stay small and which ones you can expand in. Rather than becoming overwhelmed by expense tracking and sales, our system makes it simple so you can focus on the more important things, like growing your business.
Inventory Management Software Reduces Excess Expenses
Inventory management software can take the place of an entire department for many growing small businesses. At FreshVu2Go, our system is easy-to-use, so you can train each of your employees to accurately enter and monitor the data each day. This will save you the expense of hiring an inventory management specialist since you’ll be able to train your existing employees to do the job. This gives you more money and more time to put into your business rather than conducting countless interviews for a specialized role in your company.
Spare yourself the frustration of not being able to keep up with your inventory and your demand. Get started with FreshVu2Go today!