Small Business Inventory

Posted by on October 5, 2009 · Leave a Comment 

By Ken Bassett

We all know that time is money for small businesses and most are in short supply of both. Businesses want to spend as much time as possible generating revenue, but, as they grow, so grow the administrative and operational tasks. To streamline daily, weekly and even monthly tasks, consider the benefits of adding a Point of Sale (POS) or inventory management system to your business operations. Increase productivity with existing staff and automate many of the administrative tasks that keep you tied to the business. Invoices and receipts are created quickly and professionally giving small businesses the look they need to compete. Sales and inventory are tracked so you know when you need to order more. Track waste or shrinkage more effectively and even get a better hold on potential employee theft. You can closely follow sales promotions with real-time reporting

Inventory management isn’t just for retail stores and warehouses. Using barcode tags is efficient and smart. Barcodes continue to become more advanced and can much more information than just UPC codes. Entering information into forms can be as simple as scanning a barcode containing the needed information. Not only will the system improve efficiency, but it will help improve accuracy as well. The information is entered quickly and correctly. Barcodes on file folders can help you catalog client file archives. A quick scan of the barcode can reveal information on the folder’s contents. Don’t think that changes need to be groundbreaking or conventional to make them significant to your business.

Many packages already exist on the market. Look for something that can integrate with your accounting software to streamline many aspects of inventory management and accounting liabilities. Do you need to print invoices or receipts on pre-printed forms? Also think about extra steps that can be avoided by making sure it integrates with your credit card processing and or cash drawer. The more it integrates into the system the more relevant your reports can be.

Also look for packages that come with software and hardware but don’t think you can’t acquire hardware separately to make it all work. Scanners are nothing more than an input device like a keyboard or a mouse. Think your system out before you purchase anything. You may decide as you plan out daily, weekly and even monthly operations that you need to use your inventory system differently. With so many packages available, you are sure to find something that can be customized to the type of business you operate.

Some industries will look for features that are most suitable to their work. Restaurants will want to find a package with features for quickly splitting checks or transferring open tabs. Retail businesses usually refer to this as Point of Sale software, rather than inventory management. Restaurants and retailers will want to consider touch screens for input devices.

Know how to get help quickly. Technical support is critical and should be researched up front. This can be the difference between being down for hours or down for days. If you are buying software, check out the manufacturer first and see their technical support options. Some companies only offer email technical support. Are you willing to wait for an email response when something isn’t working right?

Use the point of sale system to get a hold of your business. Whether you use it for record management with professional services or retail management, your business can benefit. Make better use of your employees. Streamline inefficient tasks and keep your workforce more productive.

Filed under Human Resources