The thumbnail version:
- Many small businesses manage inventory badly
- Poorly-managed inventory costs money
- Your accountant can help set your shop on the right inventory-management track
The full version:
Follow this plan and you’ll save money on your inventory management.
Big businesses pay a lot of attention to Inventory management. There’s a reason for that. It’s a potential cash drain if not managed properly.
Unfortunately, many small businesses (screen shops included) do not manage inventory well. Old never-to-be-used-again ink, dated chemicals, mesh in counts never used, unsold Tees, and a million other things we could name. They all represent cash lying dormant and possibly eventually disappearing.
You accountant can help you set up a system to track your inventory, value it, and give you regular reports. You can supplement a good record system with a simple but effective set of procedures for the physical management of your inventory. And you can establish a mindset that emphasizes effective inventory management in the shop. This will all help make your shop more efficient and cost-effective.
Time to start saving some money?