Inventory Questions for a Small Business

inventory questions for a small businessInventory Questions

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:

Inventory Costs: What are the Most Common?

What is the Difference is Between Asset Tracking and Inventory Tracking?

Why is Traceability Important?



Can QuickBooks Track Inventory?

Excel Inventory Management…Does it Work?

Do You Need an Inventory Management System?

What’s the Best Inventory Management System?

What Should I Expect from an Inventory Management System?

Inventory Questions for a Small Business

 

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