Inventory Management

November 9, 2015

Setting Up An Inventory Control System

Inventory control systems keep costs down. Inventory is the most valuable asset in a large number of small businesses, and it can also be one of the most difficult assets to keep under control. Theft, administrative errors, physical damage and obsolescence all eat away at inventory, squeezing profit margins and damaging bottom lines. Setting up an inventory control system can help you to maximize the value of your inventory by keeping costs under control.   Step 1 Implement policies to limit the amount of people with access to your inventory, and keep a record of who has access to secure areas at specific times throughout each day. Managers often underestimate the effect of theft on their inventory costs. Consider installing […]