If you want to meet your customer's needs,
your goal in managing your inventory should be having the enough inventory
on-hand.
The goal in inventories is always to minimize
its working capital Though, in a cash flow "point of view", there are
some reasons why keeping the inventory "minimized'. You can manage your
inventory by achieving these things:
- Conduct routine cycle counts by regularly
verifying the physical inventory. This will help you guarantee your
understanding and research is based on real numbers.
- To make sure that you are making any profit
in everything that you sell always analyze the product profitability.
- Sell, donate, or dump; Getting rid of
obsolete and discontinued inventory by identifying it.
- Before purchasing new inventory, always
make certain that everyone in your organization has entree in different
locations on your inventory, especially if you have different and/or multiple
locations.
Remember, never lose
tract on different inventory levels. Make sure to maintain your focus with its
composition to ensure not only in keeping your working capital as minimum as
possible, but also excellence with your customers
For more information
about QuickBooks visit their website, http://quickbooksatlanta.com/
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