5 Steps to better Inventory Management

1. Don’t get bogged down with too much inventory
It is common to be afraid of running out of inventory. Completely depleting your stock can lead to loss of sales and customers. But overstocking can use up working capital and diminish profits. Storing excess inventory adds to the expense and can offset volume savings. Once you are in possession of the product, it is exposed to age, damage, expiration and shrinkage. The end result can be selling it off at doscounted rates or simply liquidating the goods. Continue reading