Inventory Management Solutions

January, 2018

There are many elements to owning a business; beyond having and managing employees, taxes, regular and ongoing overhead costs, etc. if your business offers products, inventory management is a crucial part of operations.

The following are some important considerations that business owners should make in regard to inventory management:

‘If inventory control is managed properly, it can help your business reduce its costs, achieve economies of scale and prepare your business for uncertainties.

• Keep accurate inventory records: consider using inventory control software to track and analyze your sales and inventory levels.
• Put just-in-time inventory management into practice: find suppliers that can meet your needs as you fill orders.
• Pay attention to consumer and industry trends: find out what hot new items are coming to the market so you are not left with obsolete inventory.
• If you are having trouble selling items in your inventory, consider offering discounts or donating them to charity.
• Plan for the unexpected: make sure you have a good relationship with back-up suppliers to ensure that goods will be delivered if your main supplier cannot supply your products. (source: canadabusiness.ca)

Here at Boyd our aim is to provide our clients with the best in inventory management solutions. Depending on your objectives, such as greater flexibility, next-day delivery, or loyalty fulfillment, Boyd’s Ottawa inventory management services can help your company improve product handling, increasing both efficiency and profitability. Our state-of-the-art logistics software makes your Boyd-based inventory fully accessible and visible to you whenever you wish—day or night, 365 days a year. Learn more about our inventory management solutions and be moved with Boyd!