Too Busy To Implement an Inventory Management System?
Posted by Kevin Reynolds on May 8, 2012
There are a few wholesale mlb jerseys things I hear repeatedly from prospective customers about why they can”t take the time to set up an inventory management system. They usually sound something like cheap nfl jerseys this:
- “We missed our window Eerste and now we are into our busy season.”
- “We don’t have the resources right now to do the project.”
- “We’ll take a look at it again when we are not so busy.”
- “Our business is growing so fast that we can’t take the time to do this.”
Business owners have businesses to run so naturally, everyone is busy. At some point, however, you have to address the issues created by poor inventory management, as well as the extent of the financial impact on your business. I’ll reiterate the financial impact from a previous blog posting:
- If your inventory quantities are not accurate, your inventory value is not correct and is affecting your Balance Sheet.
- Lost sales, due to stock outs, has an obvious negative affect on your Profit and Loss statement.
- Poor accuracy results in a tendency to purchase excess inventory, which is the largest consumer of capital in the business.
- Excess inventory can mean overpayment of taxes and reduced profits.
- If your inventory value is incorrect, the value of your company is incorrect. Any potential investor will want to be certain that your value is correct.
- Lenders who supply the capital for the business and require inventory as collateral will insist on inventory accuracy to protect their loan.
So, what can you do to get an inventory management system, like Rapid Inventory, implemented even when you are “too busy?” Here are a few ideas, most of which will require some investment:
- Set up an isolated training environment with a copy of your QuickBooks company file attached to your Rapid Inventory account with test data. This gives you Uncovering a training environment that does not conflict with your live files and transactions.
- Get focused training Number from an expert so cheap nba jerseys that you do not have to try to figure out the optimal process flows and the implementation for your business by yourself.
- Set up a training schedule that rotates one AO: person Kitchen at a time through training and practice sessions with the new inventory management system cheap jerseys throughout Music the week. This may wholesale nfl jerseys involve paying some overtime. Make sure everyone on your team gets an opportunity for multiple practice sessions.
- Bring your people in on a Saturday for group training and practice. This also would involve investment in overtime. Make it a fun event…buy the アメリカを立て直した男ビル?クリントン pizza, etc.
Like everything else in your business, making the decision to invest in inventory management is a matter of priorities. How bad is your inventory accuracy and how negatively is it affecting your financials? How long can you afford to wait to implement inventory management? Only you, the owner/manager of your business, can answer these questions.
Try a free 30-day trial of Rapid Inventory today!