4 Inventory Tracking Hacks Worth Utilizing in 2019

Inventory management is a big job and can be even more daunting when you’re a small business. Unless you have all hands on deck, you may be spending too much time on inventory tracking. That’s not ideal, especially if you’re running behind on other critical tasks. 

Hacks and tips on how to do your job are one of the best parts of gathered info on the internet. So, save yourself some time and learn these ways to track inventory faster. 

Hacks to Make Inventory Tracking Easier 

Don’t let your small business fall behind. Track data and products with ease, so you can focus on the rest of your business. 

1. Leave the Age of Spreadsheets Behind 

For some, Excel is their lifeline. If they don’t have the answers, Excel likely does. But using spreadsheets slows you down, and there can be errors in the data that set you back. 

That’s why you need inventory tracking software.  

The software cuts the time in half, and you can look through data in real time. You can improve your inventory turnover formula so it’s only a click away. Spreadsheets are a thing of the past. 

2. Stay on Top of the Inventory 

One of the worst things that could happen is to run out of inventory when you need it most. But, if you conduct regular audits, you’ll never have that problem. 

By doing an audit of all inventory on a regular basis, you’ll always know what you have. That way, you can catch the missing data on time and avoid a crisis. 

3. Keep a Buffer 

Do you have a specific product that sells well for you? During certain seasons, that product might sell better than others. 

If you’re familiar with the term inventory forecasting, you know it’s a way to look forward at sales. The best small businesses keep an eye on the forecast, so they can keep stock on hand. 

Having a buffer means you keep a little extra than you need so you can do a quick restock. It makes all the difference when your product is flying off the shelves. 

4. Use Cloud-Based Software 

Like throwing out your old spreadsheet tech, it’s time to start using different software. It’s no longer enough to keep the same data on separate hardware. That leaves room for too much error

Switching gears and using a Cloud-based software is a great way to get organized. Here are only a few of the benefits:

  • Share data through several devices 
  • Fewer mistakes/errors 
  • Automatic updates 
  • No manual input 

There isn’t a reason to not update your systems to Cloud-based software. It’s multi-purpose and makes your life so much easier. 

More Business Hacks 

Staying on top of inventory tracking has never been as easy as it is today. With all the technology and software features, you can do almost anything. Why use manual tracking when you could be tracking with ease? 

Want more tips and hacks for your small business? Check out our business advice category for every tip you’ll need.