New Years Resolutions for Inventory Management
Happy New Year! While most people may like to ring in the New Year by watching the ball drop with a glass of champagne, at HandiFox, our focus is always the same - how we can better serve our customers. So for this blog, we decided to come up with a few potential «new years resolutions» for your inventory management.
1. Say Goodbye to the Past: Keeping a lot of old, slow-moving items sitting in your inventory may seem like a good idea, but in reality, these can be a drain on company finances and rarely contribute much to the bottom line. For the coming year, think about ways to get rid of old inventory - sell it at a discount, include it as a bonus for a customer, or wholesale it to make room for newer, more profitable items.
2. Change Your Floor Plan: People tend to get attached to the «way things are,» even when that's not the way things should be. Don't be afraid to change your floor plan. We all accept that demand and markets change, so why shouldn't the physical space change with it? A streamlined floor plan can speed up inventory management & order fulfillment processes, leading to efficiency savings in the long run.
3. Only Settle for Great Software: Inventory management is one of those things that is both vital to the health of your business and sometimes very difficult to do correctly. Leave it to the professionals - automate your inventory management process with software like HandiFox. This will give you a centralized hub to see everything that's happening with your business's inventory across multiple sites, and with mobile capabilities, HandiFox inventory management software can revolutionize the way you do business.
If you have more questions about how to take your inventory management process to the next level this year, feel free to reach out to us at our contact page. Don’t forget to keep checking this blog periodically – we’ll update it with useful news and information from the exciting world of inventory management.