The How & Why of Inventory Management
Inventory is a recording in accounting that indicates the number of goods and raw materials that the company intends to sell. As a business owner, you should keep track and count all merchandise. Inventory management and control ensures you have enough finished products ready for sale, equipment to use in production, and any accessories necessary. This will ensure the business does not incur losses due to spoiled goods. The importance of a business inventory is that it will give the business owner clear visibility of items in inventory in different locations. It will also reduce stock-outs and give adequate time for restocking. An accurate accounting of inventory gives the business owner knowledge of the value of the stock available at a certain time.
True Client Pro offers businesses a customer relationship management system (CRM) that enables business owners to categorize the products, subcategorize by groups, record wholesale and sale pricing and much more!.
For example: a rental business owner who uses True Client Pro can categorize inventory for rental purposes. The rental business owner can also subcategorize the items on the basis of rental price. True Client Pro gives the owner the clarity of knowing the location, wholesale price and selling price of all items for rent.
This software enables business owners who sell perishable goods such as Florists, to group their goods on the basis of perishability, selling price, the number of flowers, and the different colors. With True Client Pro, service providers such as wedding and event professionals can group their services based on the price, care of items, instructions, and the nature of the products.
With True Client Pro, you can improve communication within the company as it eases data sharing within different departments. Since the information is in a centralized place, it provides business owners with valuable insights that enhance business decisions. The software can be used remotely with different team members making it easy to track your inventory.