Why Managing Your Inventory Can Be Romantic

Ok, hear me out. I know counting shelves upon shelves of items isn’t super romantic. Even over here at Shopventory, as much as we love good inventory management, we don’t think it makes the world go round. But we do know that less time and money wrapped up in inventory means more time and money for other things (like wine and chocolate!).

Do I have your attention yet?

We didn’t create Shopventory so you can spend more time thinking about numbers. We created it so business owners like you can spend less time thinking about margins, vendors, and whether you have enough or too much product. Save those hours (and dollars) for the people in your life that matter, like your partner or your kids.


How do you do it?

Delegate technical tasks to the technology designed for it. Simply put, no matter how good your memory and your math skills are, computers are just better for that. When I think about my time spent in retail, I spent a lot of time on tasks like this:

  • Visual stock-checks

I couldn’t tell you how many times a day a customer would call or walk in the front door, ask “Do you have ___ in stock?” and I would physically walk down the aisle to check. Why? Because our stock counts weren’t reliable. It’s not an exaggeration to say that being able to rely on my numbers would have saved me at least an hour of walking a day. Over the course of a month, or a year, how much time lost is that?

  • Comparing stock across locations

If you’re selling stock from three different locations, how often do you have to cross-check where products are available? Seeing all of your inventory at all of your locations side-by-side can dramatically reduce the need for quick phone calls and check-ups that add up over time.

  • Evaluating inventory for re-ordering

Suppose your order for your primary vendor needs to go out every Tuesday. In my experience, that meant we needed to set aside at least an hour or two every week to survey that vendor’s products and decide what needed to be restocked. Again, this is a simple fix--with reliable numbers (or better yet, an automated low-inventory report), creating this week’s purchase order is no more involved than listing the items you already know are low.

  • Checking vendor order history

“What did I order last week? That seemed about right. How much did it cost? Did their prices go up?”

Your purchase order paper trail has a wealth of information you need. But following the trail shouldn’t be difficult. Shopventory eliminates the need for sifting through a pile of papers to find the one you need. Comparing historical item costs is one click away.

  • Finding out what happened to a particular product

“I thought we still had two of those on the shelf. Where did they go?” How often do you find yourself in that situation? Comprehensive inventory auditing takes out the guesswork, because you can trace back every sale and adjustment. “Oh, I see. We had two last week, but transferred one to the other store and sold one this morning.” Stop wondering, and let a tool keep eyes on everything you can’t.

  • Receiving inventory

Receiving shipments can be a real process, between unloading, unpacking, checking off the shipping list, verifying you actually got what you ordered in good condition, and then going into your system and adding the correct quantity for each item. What if you could check your shipment and then push just one button to put it all in stock? That’s what I call saving time.

  • Comparing vendor sales (who are my top performers?)

I buy products from 15 different sellers. Are my hunches about which items sell the best correct? And do my top sellers actually bring in top profit, or should I pay more attention to the slower-moving, higher-margin items? Comparing sales reports between vendors can take a lot of time if you’re not set up for it.

Time is a commodity no matter who you are, but for small business owners, it’s pure gold. “I don’t have time… there’s just not enough time” is not an uncommon mantra. Moreover, we’re often not just talking about a 40-hour work week either. If it’s your first year or two in business, you might be all too familiar with 50, 60, or 70+ hours on the job every week.

What would you do with just six more hours a week?

That’s the leverage the average merchant gets with a tool like Shopventory, and I bet you can do better than that. How?

Identify your most time-sucking inventory tasks, and let us handle it. Do you need an accurate picture of your inventory? Your first job is to wrangle those on-hand quantities, fire up Shopventory and add your cost of goods to every item in stock. Do you need to know your vendors are actually performing? Set up your vendors, run the reports, and see how the numbers fall into place.

Ready to take your week back? Let us show you how Shopventory can handle your time sinks, leaving you with more hours and more dollars for someone important in your life.
Voila! Inventory management can be romantic after all.

Right now, Shopventory offers a 30-day full-featured free trial with no credit card required. Shopventory is backed by a 30-day money back guarantee. That means you get a total of 60 days risk-free!

You can start a trial today and join the thriving community of thousands of merchants all over the world who use Shopventory to optimize their inventory while pricing their products with confidence!

 

Know a business owner who could use regular tips like these?
Why not share this post with them?