Inventory Management - Automated Systems

It is observed that 75% of small businesses went bankrupt within 5 years. Primary reason is cash flow and in retail, primary reason for cash flow problems is poor inventory management. Inventory is a Business Investment. It should be managed with Business Systems.

Benefits of Business System

1. It uses Technology

2. It does the Calculations

3. They are Automated

4. They are more time efficient, more objective, more accurate, more professional, more productive and more profitable

Business Systems needs to be use to plan Business Investments

Five Inventory Management Essentials / Checklists

1. Inventory Planning

2. Selection

3. Display

4. Sales & Service

5. Markdown Planning

Author:.

Nilesh Shah nileshshah@rancelab.com Over 10 years of experience in the field of software development, sales and marketing. He has assisted over 500 Retailers and Restaurateurs in implementing the Retail and F&B software with barcode & pos hardware for their business. He holds a designation of Director, Marketing in Rance Computer Pvt Ltd. He holds the certification from Microsoft Corporation and NIS. His current research focuses on developing and implementing intelligent retail systems...

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