Business Daily Media

3 Tips For Organizing Your Business Inventory

  • Written by NewsServices.com

When your business is small, you might be able to get away with having a disorganized inventory space. But as your business starts to grow and things get more complicated, if you’re not able to streamline and organize your warehouse or stock rooms, you may find that keeping your business on track will become much harder to do.

To help ensure that this doesn’t happen to you, here are three tips for organizing your business inventory in a useful manner. 

Create A System For Receiving Stock

One of the hardest things to do when trying to stay organized with your business inventory is to manage the big shipments that you receive from your suppliers. 

Without having a good system for this in place, it’s easy to feel like you don’t know where to put the stock you’ve just received. For this reason, you need to come up with some system or process for how you handle receiving stock shipments.

If your shipments are small, you might just need to devote more time to checking, organizing, and storing these items yourself. But if you’re getting a lot of stock that you can’t handle all on your own, you should look for a warehousing solution that will allow you to manage everything from purchase orders to your labeling system and everything in between. 

Embrace Maps And Labels

In smaller storage areas, having a map of your stock likely isn’t going to be a priority of yours. But once you start moving your inventory into a warehouse, you’re going to need to have a solid organization system in place from the get-go.

As part of this, you should try your best to embrace maps of your storage area and labels for each item that makes its way into your inventory space. With these measures in place, it will be much easier for you to know where to store certain items that come in. And when it comes time to fulfill orders, you’ll know exactly where to go to get what you need to be selling or shipping off.

Make It Easy To Cycle Through Old Stock First

For most businesses, it’s going to be important to follow a “first in, first out” rule for cycling through your stock. However, when adding more products to your shelves, it can be much easier to just stick the new stuff in front of the old stuff.

If you’ve been struggling with how to make this system work, you might want to reconfigure your shelves or storage areas so you can easily put your newest products in the back and press your older products up to the front. This reconfiguration could include things like stocking shelves from the side, using step stools to easily reach the back of your shelves, and much more. 

If you’ve been struggling with keep your business inventory organized, consider using the tips mentioned above to help you meet this challenge.

Business Reports

TEN13 doubles investor network to 550 syndicate members

TEN13, Australia's fastest growing venture syndicate, today announced it has reached a new milestone with 550 experienced and sophisticated investors joining the new syndicate. In spite of a challenging macroeconomic environm...

EOFY explainer: Everything your business needs to know about the instant asset write-off

Australia has long been renowned as a rich and vibrant small business nation, where entrepreneurialism is encouraged and celebrated. It has, however, been a challenging period for small business owners, and the transition from o...

Brand Expert Shines in Business Awards

Sydney multipreneur Zahrina Robertson, who is known for producing world-class visual assets, has been named a finalist in the North Shore Local Business Awards. The founder of Zahrina Photography & Video[zahrinaphotograph...

New Image acquires Nutrimetics from Tupperware Brands

New Image Group has acquired skincare and cosmetics brand Nutrimetics from Tupperware Brands Corporation (NYSE: TUP) for an undisclosed sum. Nutrimetics is a natural fit with New Image’s portfolio of health and nutrition prod...

Save, spend or invest? New offering allows Aussies to maximise their savings

With the turn of a new financial year, Australians are at a loss of how to make the most of their tax refunds this year with rising costs of living and low return on savings. The Australian Investor Sentiment Report 2022 reve...

Commercial Painting Revitalised Shop Fronts and The Economy – Why Did the Funding Dry Up?

State governments provided retailers with grants to revitalise their shop fronts in a bid to help the ailing industry. The $2000 - $10000 grant aims to ‘add a lick of paint” and some street appeal to retail outlets not onl...

Web Busters - Break into local search

WebBusters.com.au