Four reasons why inventory management is worth the effort
Posted on 8th October 2014 by Fleur Murphy
Let’s face it, keeping track of how much product you have in stock isn’t the most fun part of running your business. The thought of sitting down and counting each and every product on the shelf is enough to make even the most diligent business owner cringe.
If you do take the time to effectively manage your inventory, you will feel the positive flow-on effects across your entire business. It will help make everything run more smoothly, and help you ensure your profits and cash-flow aren’t tied up in the stock on your shelf.
1. It keeps your clients happy
Ever had a client pop in to buy their favorite conditioner, only to discover you have none left on the shelf? Or run out of acetone at the exact moment a client walks through the door for their fortnightly mani? When it comes to ordering the right quantities, precision is everything. If you know exactly how much product you have in stock, and how much you’ve sold or used in the past, it’s easy to calculate how much you should order. In fact, the Inventory Management feature in Shortcuts will do the number crunching for you!
2. It helps you run profitable promos
If you’re thinking of packaging up products for promotions these holidays, look no further than the bundling feature. It makes it easy to sell multiple products as part of the one promo pack, which is an ideal way to increase your profits in the lead-up to the festive season.
3. It will keep an eye on your staff
Have you ever thought your inventory levels seem lower than expected, for no apparent reason? If you’re not equipped with the right tools, there can be no way of knowing whether your hunch is correct – but inventory management will change all that. The built-in tracking procedure is the perfect way to keep track of how much product each staff member is using, by ensuring they check out each product as they use it. There is no better way to help prevent valuable products going missing.
4. It makes taking inventory a breeze
If you find yourself dreading the task of taking inventory - Shortcuts can have your life. Our smart wizard makes it easy to take your inventory e in just a few easy steps. You can also choose to break down the process into more manageable chunks, either by brand or by section. Best of all, you won’t have to shut up shop while you’re takign inventory, as Shortcuts tracks how much you’re selling throughout the entire process.