Inventory Management Techniques That will Save you Money

1
Inventory Management Techniques that Will Save
You Money
2
WHY INVENTORY MANAGEMENT IS IMPORTANT
3
Holding inventory ties up a lot of cash. That's
why good inventory management is crucial for
growing a company
4
INVENTORY MANAGEMENT SAVES YOU MONEY
5
AVOID SPOILAGE
6
AVOID DEAD STOCK
7
SAVE ON STORAGE COSTS
8
INVENTORY MANAGEMENT IMPROVES CASH FLOW
9
Money spent on inventory is money that is not
spent on growth. Manage it wisely
10

• 4 INVENTORY

MANAGEMENT TECHNIQUES
11
SET PAR LEVELS
Par levels are the minimum amount of product that
must be on hand at all times
12
FIRST-IN FIRST-OUT
Means that your oldest stock (first-in) gets sold
first (first- out), not your newest stock
13
MANAGE RELATIONSHIPS
Important to have a good relationship with your
suppliers
14
CONTINGENCY PLANNING
Its Yot a watter of if problems arise, but when.
Figure out where your risks are and prepare a
contingency plan
15
REGULAR AUDITING
Regular reconciliation is vital
16
BEST INVENTORY MANGEMEMENT SOFTWARE
Emergeapp.net/features/inventory- management-softw
are