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The big leader in shipping inventory has to be Amazon. They’ve literally reinvented how inventory management works and other companies, big and small, look to their model to see how improvements can be made. Inventory management isn’t complicated when you have the ability to look at the “big picture” of your sales goals. Here are some helping tips to making inventory management work for any size company:
Categorize by Sales
Within a storage facility, you can have a diverse array of inventory but not all of them will be selling at the same pace. You’ll know by sales history which items are high-value but with a low frequency of sales and which ones are low-value but sell fast. Then there are all the moderate performers. You can label these groups accordingly and find proper placement with regard to shipping. Obviously, the fast selling objects should be moved “up front.” This might mean rotating product but that is what inventory management is all about.
Accurate Forecasting
Every successful business needs to be good at predicting the future. That is a huge part of managing inventory. How do you achieve that? You have to pay close attention to trends in the market along with tracking last year’s sales during the same time period. If subscriptions are part of your business, then those numbers can accurately predict some level of needed inventory. Seasonal items might be the big “wild card.” You want to have enough on hand to sell of new product but not so much as you’ll be stuck with it at the first of the year.
Easy Access
Inventory management can only work if your employees have easy access to what they’re shipping and selling. If clutter and rubbish stand between them and the products that they need, then everything is going to slow down. This is where Junk King Fort Lauderdale can be of assistance. These junk hauling pros can help you clear out your warehouse and storage rooms of all that unwanted inventory. Consider how much space you’ll be getting back that way. Let Junk King Fort Lauderdale help with your inventory management by clearing out the rubbish and watch how everything flows better at your business.
