As a retailer, a physical count of inventory is a necessity for any retailer. Retailers by tax and accounting rules are to provide an accurate value of the products in their store by physically counting all inventory. Read More
Do you have a warehouse, a store, or an inventory location? The time has come to conduct your first physical inventory count but you have no idea where to start? This guide will discuss what to do before, during, and after physical inventory counts. Read More
Many businesses throughout the world have been forced to shut down due to the Corona Virus Pandemic. While some stores are on the path of resuming operations, others, not so much. If you are one of the many businesses waiting to get the signal to reopen, this is the time to prepare for post coronavirus. To this end, we have put together a list of practical steps to take before you open your doors. Read More
Surplus Inventory is described as a situation where fewer supplies are used than what is stocked. It could be as a result of a customer canceling orders or a vendor offering a discount by increasing the quantity supplied. This can create cash-trap locked up in stock thereby affecting your profit margin. Also, having excess stock takes up valuable space in your store and storage, and stale products could negatively affect conversion in-store. Is extra stock weighing you down (especially in the wake of the ongoing pandemic)? In this article, we take a look at 4 strategies to liquidate surplus inventory. Read More
Inventory control is extremely crucial to your business as a clothing store, food, or, appliance store. It is one of the determining factors for the growth of both retail and wholesale businesses. Not having enough of the right product will have customers turning to the competitors, and too much will have your money tied up in stock leaving you cash-trapped. This is why inventory control is important. Thankfully in this day and age, the point of sales software can offer all the data needed to make an informed decision about the state of your inventory. To help you get on track, here are 7 very simple tips that will help you reduce inventory costs, boost sales, and get better control of your inventory. Read More