Manual inventory tracking is a time-consuming and error-prone process. That might seem simple, but as a small business owner, you know that managing product stock is anything but simple. Order management and supply chain management are essential to a retail business’s success. Low stock means failing to order enough product and possibly missing out on sales that could’ve been made had the product been in stock on the shelf. Underestimating demand can also become a problem when it comes to inventory management. This means making sure you have enough product to fill demand, without overestimating and ending up with an excess of product that nobody is buying (otherwise known as “ dead stock ”). ![]() Retail inventory management is exactly what it sounds like: keeping track of, and managing, your business’s stock of products through the supply chain. ![]() Read on for our top recommendations that can help you manage your inventory and improve inventory management processes for your business. Luckily, there are plenty of inventory management system options available to save small business owners time, stress, and money. Whether you own a mom & pop shop, a family restaurant, a boutique, salon, or plant store, poor inventory management is a major downfall for every business, no matter the industry. One of the biggest hassles for small businesses is tracking and managing inventory.
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