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Inventory optimization: Tips to optimize your inventory

If you have your own PME, you know how important your inventory is, it allows you to know where you are at and to order more products if you are running out. A lot of people tend to forget about that important part, so this is why we decided to give you a few tips to help you with this task. 

Inventory tool

The first thing to do to optimize your inventory is to choose an inventory tool to help you manage everything and to keep track of everything. But be careful, do not use a lot of different tools for every task of your logistics because you can get lost and not e able to synchronize everything. It will be better if you find one tool only that allows you to do everything you need at once. To help you find the perfect and adapted tool for your SME, you can take a look at our blog and check our article called Startup tools: Best tools to develop your startup. 

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Strategy

Once you found the perfect tool to use, you are ready to plan your inventory strategy to make it the more effective as possible. What we recommend you to do is to synchronize your shipping with inventory tool to make sure that once a product is going out, the system automatically takes it out of the database. If you cannot synchronize your product movements in the database, it is better to always enter them manually after each transaction. This way, you will always know what you have in your stock and will prevent you from doing the inventory of your whole stock for hundreds of times. 

Warehouse organization

To have an effective stock and deliver the right products to your clients without any mistakes, you need to do a good job on your product identification, organize your warehouse in a way to have your employees moving around really easily and allow them to find all the references fast without any issue. 

Warehouse

Track your products

Always keeping track of what you have in your inventory will allow you not to be out of order in some products and be able to restock them before being in the need. This way, it will benefit your clients but also the company as the clients will always be able to get the product that they need which will lead to their fidelity if you always give them what they need without any trouble. Do not let your old products get moldy in the back of the shelves, it is better to use the strategy of the first in first out which will allow you to always get rid of all your products as you will never have old stock. 

Know your customer

Try to minimize the lost, study your client’s behavior before getting a full stock for a product that will not be sold as much as you were expecting. It will allow you to keep an eye on your cost and your production.

Managing your inventory is a really important task and you need to spend time on it to make sure everything goes smoothly, if you follow all of our advice and chose the perfect tool adapted for your SME, you should succeed in your sector. 

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Here is also a list of our 4 favorite inventory tools:

  • InFlow Inventory: It is a free software adapted to every size of business that will allow you to keep track of your inventory. 
  • Odoo: It is an ERP tool that can also provide an inventory service to help you follow your products. 
  • Hector: It is another inventory software which will relieve you from all the worries as it takes care of your inventory for you.
  • Sortly Pro: It is an inventory tool that is completely based on the cloud so it won’t take any memory on your computer and will help you keep track of your inventory.

If you do not have time to spend on your inventory and all your logistics, Nestore can provide you with a full storage solution with logistics. Come and take a look at our website to learn more about our services

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