Keeping track of your inventory can be time consuming, but spending a little time learning how to maximize efficiency is worthwhile. With up to 30% of your business’s budget tied up in retail and backbar product, inventory management is crucial! With these tips you can control ordering, avoid repetitive inventory counts, improve efficiency, and remove manual entry errors.
- Organization is key. Setting up and organizing your products by departments, classes, and vendors is one of the most important parts to successfully managing your inventory. Inputting the correct information will increase accuracy when creating purchase orders for your vendors.
- Add barcode scanners. This can help prevent incorrect items being entered. Envision allows more than one barcode for an item, so no need to worry when a manufacturer makes updates to the barcodes.
- Order on time. Remove manual entry and avoid weekly inventory counts by using purchase orders. With autofilled purchase orders, you can create the entire order with just a few clicks of your mouse!
- Keep hot products stocked! Gain loyal and repeat customers by always having the necessary amount of product on your shelf.
- Minimize what isn’t selling. Use Envision’s inventory reports to find the products that don’t sell well, put them on sale and make room for something new!
Watch our training videos on retail item entry and purchase orders to ensure you inventory management is on point.