In small businesses, people often don’t see the importance of inventory tracking. The loss of inventory or waste of perishable goods becomes pretty evident when the profit margins are drastically dropped.
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Important Three Reasons for Inventory Management
1. Important Three Reasons for Inventory
Management
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2. Inventory tracking to accurately calculatation
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Every business must keep a track of total goods sold
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Inventory tracking will make it easier to calculate the cost of goods
sold
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Without maintaining a physical inventory of your merchandise each
and every month
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But if you move a lot of inventory, it is advisable to do a physical
inventory check periodically
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To calculate the cost of good sold, you must take your beginning
inventory
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3. Inventory Management for maintaining
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Inventory management and tracking of your inventory levels
will simplify your ordering process
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If you know many of a certain item is available in the stock
then you will easily determine
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Inventory tracking and management can easily be
incorporated within your sales system
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That your inventory levels are always up-to-date all the time
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4. Ensure Exceptional Customer Service
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Having a good inventory management system that is well integrated
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An automated sales system will inform you right away whether or
not an item they are ordering is in stock
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Customers will be immediately informed of the latest inventory
status
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Such kind of service will make your customers feel better when
dealing with you impersonally via Internet
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These are three major reasons why inventory tracking and
management is important for your business
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There are number of softwares available in the market that will help
you simplify the process of inventory tracking
http://www.accely.com