Management, Books and Learning

Start saving by using these  8 Inventory Management Techniques Why Inventory Management Is Important Holding inventory ties up a lot of cash. That's why good inventory management is crucial for growing a company. Just like cash flow, it can make or break your business.  Inventory Management Saves You Money Good inventory management saves you money in a few critical ways: Avoid Spoilage If you’re selling a product that has an expiry date (like food or makeup), there’s a very real chance it will go bad if you don’t sell it in time. Solid inventory management helps you avoid unnecessary spoilage. Avoid Dead Stock Dead stock is stock that can no longer be sold, but not necessarily because it expired. It could have gone out of season, out of style, or otherwise become irrelevant. By managing your inventory better, you can avoid dead stock. Save on Storage Costs Warehousing is often a variable cost, meaning it fluctuates based on how much product you’re stori