Tips for Managing Your Small Business Inventory
March 23rd, 2020
The concept behind inventory management is simple: it’s about having the right products available at the right time — when orders come in. That means having the right quantity of those products on hand for a quick turnaround, especially if you sometimes get an unexpectedly large number of orders at one time.Understanding the basics of inventory management can make a big difference in how well your business operates. Anyone who masters these basics can reduce the cost of carrying excess inventory, while building a stronger customer base by getting products shipped more quickly. That means it’s crucially important to maintain an accurate inventory. For many small businesses, a serious challenge is lack of available space. If you’re an entrepreneur operating out of your home or a small office, you’ll need to get creative about where to store your inventory. For many small businesses, that solution has come from renting a self-storage unit.
How Can You Manage Inventory at Your Small Business?
One of the top tasks of any successful business is figuring out how to keep track of a working inventory, or the supplies you need on a daily basis. Those who are not well organized can quickly find this becomes a headache.A good first step is to get rid of anything that you don’t need or use at the moment, and which can quickly become clutter at your home or office. That doesn’t mean you have to throw out things you may need in the future. Decluttering a workspace is about finding an alternate location for certain things, and that’s where the option of a self-storage unit makes perfect sense. Storage units like the ones at Treasure Island Storage come in a wide variety of sizes, so if you need something about the size of a closet in your home, that’s available. If you need more space, that’s available too.Relocating those items also helps your inventory management, since you no longer have to count items you’re not using as being part of your stock.
How Can You Keep Your Inventory Organized?
The best way to organize your inventory is by starting with the items that sell the fastest and where the supplies need to be quickly replenished. You want to be absolutely certain that your biggest money-makers are well stocked. Start by counting your best-selling items and match the number you have on hand to what you expect orders to be. And it’s also smart to find a secure location for these best sellers, which would be inside a storage unit.The storage units at Treasure Island Storage have advanced security measures like video surveillance, front gate access, and enhanced outdoor and indoor lighting. Their units also are climate-controlled, so your products won’t get damaged by excess heat or humidity in the summer, or dry frigid cold in the winter. The units are kept at a steady temperature all year round so everything inside them is fully protected. That allows you to keep your inventory in storage and quickly replenish when supplies run low.You can also organize your inventory by type so they’re easy to find. Try putting numbers or labels on the boxes. You can also take advantage of one of numerous inventory management apps like Sortly, Delivrd or SOS Inventory to use management technology to assist you.The bottom line is excess inventory can create problems at your office or home, which is why having a self-storage unit is a cost-effective solution that lets you grow your business at your own pace, and with a secure location for your most important products.
Discover TI Storage for Self-Storage Solutions in NYC
Whatever it is you want to put in storage, we know it’s important to you. If you’re in need of a storage unit and want to be absolutely certain that your belongings are safe, security is a top concern at TI Storage, which is why we offer video surveillance, gated security — and climate-controlled units. Located throughout New York and New Jersey, TI Storage is guaranteed to be the top choice for self-storage near you. Simply locate the Treasure Island Storage in your neighborhood and stop by. Our team of storage solution associates will show you around and help you reserve the unit you need. Contact us today!