When I was running my own A/V company, I was always thinking about what I could do to make my business run more efficiently and smoothly. Of course, I thought a lot about inventory control and how to best keep track of it and maintain appropriate levels. I did research and spoke with other business owners to get ideas.
These are some of the questions regarding inventory control that I ended up regularly asking myself:
- What is your average inventory level?
- How much slow moving or obsolete inventory do you have?
- Do you ever delay receipt of material to keep inventory investment down?
- Is there any inventory that you consistently run out of?
- How often do you cycle count your inventory? How much variance do you have? What are the causes of the variance?
- What measurements do you have that show how well inventory and orders are being managed?
These are questions that I think all inventory managers should be able to answer. I routinely asked myself these questions in order to help my business be more profitable and improve my inventory management techniques. As a developer of inventory management software, we have to consider these same questions when developing TRXio. Inventory management is a key part of getting any small business to run smoothly and successfully.
TRXio (pronounced “tracks-i-o”) is a scalable inventory management solution for any size organization and business. TRXio helps you organize inventory, create consistency and minimize costs while providing you accurate and real-time reports, analytics and data on the status and item detail of your products, inventory and equipment.
Learn how TRXio can help your business answer these important inventory questions for a small business. For more information, please contact us at 844-868-7225.
Answers to Other Inventory Questions: