Keeping On Top Of Your Shops Stock
Inventory control is essential for the productivity of any business. As essential as it is it is not the be all and end all for a productive business. Any well aware business would always know what’s in stock. Having a good grasp on your stock is vital so you know you’re ordering the right stuff at the right time. All your stock are your assets. And being able to track your assets is the most crucial part of inventory control.
So you know your stock room like the back of your hand. It’s just as important you know how long it’s been there too. Being able to track your non fixed and fixed assets will help your productivity. You need to understand what is selling and how quickly it’s selling too. This will ensure several factors which can improve your business productivity. This will help you understand if you need to order a certain product as often as you do. If you have stock sat around not selling it’s taking up valuable room and space for something that is making you money. This probem could be made worose if that stock can expire. You also have the option of increasing the price on the stock you know is moving quite quickly.
Now you know what stock you’ve got you need to know your fixed assets just as well. Anything that you don’t actually sell but still helps the business day to day would be a fixed asset. This would include things like any fridges on a shop floor or a till. The easiest way to track these is with fixed asset accounting. This software will tell you exactly what they cost, the life cycle and the maintenance costs. One glance at the fixed asset register will tell you when it’s time to be replaced and the benefits to contributing to the business. Any audits you have to do will also be aided by this software as it will produce reports to a best practice standard.
High Probability Watch List Review Showing Research methods to finding the best stock set ups