Inventory Tips for Small Businesses

Effective inventory management is crucial for small businesses. Here are a few easy tips to keep things organized and running smoothly:

1. Use Inventory Software
Track stock in real-time with tools like inventory app on your Clover device, so you always know what you have.
2. Organize Your Stock
Group items by type, size, or season, and use unique SKU numbers for easy identification.
3. Follow FIFO (First In, First Out)
Sell older stock first to avoid waste, especially for perishable items.
4. Do Regular Counts
Check your inventory regularly to catch discrepancies early.
5. Track Key Metrics
Monitor how quickly products are selling to adjust your stock levels accordingly.
6. Work with Reliable Suppliers
Ensure timely restocks by building strong relationships with your suppliers.

By staying organized and using the right tools, you can keep inventory costs in check and run your business more efficiently.