Inventory management is essential to operating a successful business. Having an accurate count of inventory ensures that you don’t run out of product, and have an accurate sales count. While manual inventory management used to be the only way to track the products a store had on hand, those days are long gone. You
As a small business owner, you understand it takes a lot to run a successful business. Over 70% of businesses fail less than 10 years after opening, and it can be a challenge to keep up with the changing demands of the market. One common challenge is finding the ideal Point-Of-Sale or “POS” system.
At its best, taking inventory is a time-intensive, repetitive task that few people look forward to. Taking stock can be exhausting, complicated, and flat-out frustrating when performed inefficiently. Thankfully, a few simple yet effective tips for taking inventory can streamline your processes. Use a Reliable POS System One of the most critical inventory tips is
Inventory has been a headache since time immemorial. Traditionally, businesses had to reserve specific days to count each item in stock and determine how much they had. Then, administrators would use this data to gauge how much stock to order for the next period. This system made managing inventory inaccurate and inefficient. Fortunately, inventory technology
Most bar owners and restaurant managers dread taking inventory, and mostly because the old way of maintaining order simply does not work for most places anymore. When the bar liquor inventory is done correctly, it decreases overall costs and increases profits more than most managers would expect. Setting up an efficient inventory system requires a
While some think the cause of bankruptcy is overstaffed operations or lack of sales, it often is more likely to be mismanaged assets. A strong inventory management system can make a difference in creating a successful business. Cost control for restaurant margins is an important aspect of managing your business. Labor is one of
