Strong inventory management practices can mean the difference between positive and negative cash flow. When your inventory is managed properly, you’ll have just enough to fulfill orders without stuffing your warehouse to the seams.
Make an intelligent investment when you use the ERP-integrated inventory management software that’s been delivering customer value since 1989. Contact Scanco online or at (877) SCANCO-1 to learn more about how you can build your company’s worth with well-managed inventory stock.
Inventory Should be Treated Carefully
Your company’s inventory reflects an investment into future orders. Treat it carefully. Many Smart investment strategies are the same as your warehouse management strategies. These include:
- Select stock with high value and low risk
- Carefully track the performance of each of your stock items so you know when and how to sell
- Build relationships with suppliers (AKA brokers) who can help you negotiate your purchases
- Know in advance when your stock is likely to go bad
- Track your gains and your losses, in real-time, for all of your stock
Using barcodes, RFID tags, and other inventory tracking methods can also help you track and manage inventory more carefully. The bottom line is to keep close tabs on what you have in stock, where it is located, and how often it is rotated so that you can fulfill customer orders with items in good condition.