Expanding Your Home Based Business? 3 Steps To Manage Your Growing Inventory
Starting a business is hard work, and there is nothing more rewarding than watching as your business begins to grow. Yet, increasing sales also means a growing inventory, and it is common for home business owners to suddenly discover that they have outgrown their garage or basement. As you begin to take your business to the next level, use these strategies to keep your inventory organized so that you can maintain your sanity as you push out those orders.
Identify Your Top Sellers
Most businesses have a select set of products that make up the bulk of their sales. To maximize productivity, you will need to keep these products and materials nearby. Spend a few minutes looking over your latest sales information and analyze which products have the highest sales for the previous month. If your business sells seasonal products, remember to account for weather or holiday fluctuations. Then, create a space within your home that can handle this essential part of your inventory.
Move Non-Essentials Out
After your analysis, you will be able to identify which parts of your inventory are not used on a daily basis. Moving these non-essential items to storage units will increase the space you have available to maximize your business's productivity. As an added bonus, many units have additional features such as climate control, which is often an upgrade from a home's unheated or cooled garage. If you are expanding your business to include a partner or employees, then this option can also allow you to keep your inventory accessible to everyone.
Establish an Inventory Management System
Depending upon the size of your inventory, you have several options for keeping it organized. For example, a small online baby boutique may be able to organize their inventory into boxes with photos on the front signifying which type of clothing is in each one. For larger inventories and those split between two locations, tracking apps are a great way to quickly identify how much you have of certain items and where they are located.
A need for additional storage is a prime sign that your business is coming along nicely. While it may seem like a leap to move inventory out of your primary location, it is often the only way to continue to expand. By paring down your home-based storage to just the essentials, you can clear out the clutter and stay focused on meeting your business goals. Work with a storage facility, like Stevens Creek Storage, for more help.