When it comes to inventory management, big ecommerce giants like Amazon are leading the way with innovation and increased productivity. What they’re learning about inventory management is probably being taught in business schools all across the country. Of course, not every company has the resources or massive inventory that Amazon does. That doesn’t mean that inventory management isn’t important. It matters to the success of every business, large and small. Here’s why:
It Helps Avoid Spoilage
Grocery stores and restaurants are all about expiration dates. Making sure products are on the shelves and selling before they expire is crucial. It is just as important to remove those items who have hit their expiration date. Without strong inventory management practices some of those items could be headed for spoilage that can cause major problems for your business.
It Helps Avoid Dead Stock
Dead stock is stock that can no longer be sold. This doesn’t mean it has “expired” as much as gone out of style. There could also be stock that is seasonal. Already there are Halloween decorations being sold but you won’t see a lot of them on November 1st!
It Saves on Storage Costs
One of the other goals for strong inventory management is to make the most of your storage space. Obviously, if you have a huge warehouse to utilize, storage might not be an issue but cost would be. Are you paying to store things you’re not selling? Some small businesses need an inventory overflow storage unit. It makes sense if the business is expanding but not if that storage is being used for the “dead stock.”
Once you have identified the unwanted inventory that is taking up valuable storage space, you’ll want to hire Junk King Portland. These are the junk hauling pros that can clear out any storage space in no time at all. Junk King provides a moving crew who will do all the work. That means your own workers can stay focused on their tasks. Junk King will also send over a truck big enough to haul away what you need to get rid of. Regular sessions with Junk King Portland can go a long way towards opening up storage space and improving inventory management for your company. Get started today.