4 Tips To Organise Your Small Business Inventory Effectively

4 Tips To Organise Your Small Business Inventory Effectively

So, you have started your own enterprise. Congratulations! You are undoubtedly ready to get stuck in and grow your business. As an entrepreneur, you would probably have received plenty of advice on the importance of inventory management. After all, the efficient organisation of your business inventory is crucial for ensuring smooth operations and maximising profits.

Unfortunately, most start-ups will likely not have the cash to splurge on a spacious warehouse or an intuitive application to ease the inventory management process. We empathise with this situation. As such, we have decided to share some tips on how small business owners can manage and organise their supplies. 

Tip #1: Receive goods effectively

Receiving inventory can be chaotic if you are not prepared for it. Without a proper system, you will find it tough to stay organised. Taking shortcuts in your receiving workflow, such as setting the goods aside and dealing with them later, will only result in a disorganised and inefficient inventory space.

We recommend dedicating the time to receive your supplies properly and putting the goods away correctly upon their arrival. Doing so will save you plenty of headaches in the long run. The first thing you require is a place to stow your inventory. It does not have to be a large warehouse, just a place where you can monitor your stock easily.

Once you have secured your business storage, you will find it convenient to receive and store your goods. Start by unpacking all inventory and inspecting it for damage. If everything is perfect, you can start sorting your supplies into various categories to make it easier to organise everything. 

Tip #2: Implement a logical layout

It is imperative to implement a logical layout to your business storage to make it easier to locate specific items and help monitor your inventory levels. You should take your product demand and turnover into consideration when organising the layout for your goods. For example, popular items should be placed at the front. Meanwhile, goods not in high demand can be situated at the back of the storage unit. This way, you will find it more efficient when it comes time to resupply your goods.

Tip #3: Optimise storage space with organisation shelves and products

Are you having trouble organising your inventory space? Perhaps you are running out of room in your business storage. In that case, you might want to install shelves and racks to take advantage of the vertical space to store frequently used items within easy reach.

You can also consider getting durable, transparent storage bins to make organising your inventory easier. While cardboard boxes are passable, they are usually flimsy. Besides, they are opaque, so you will have to rummage through the content to identify what you need. 

Once you sort everything neatly, you can grab a labeller to dedicate specific spaces for each product. This way, you know exactly where each item is located and can grab what you need without rustling through various boxes and bags. We recommend labelling everything clearly so that you can find something quickly and accurately.

Tip #4: Rent a storage unit

We have said it before, and we will say it again – storage rental is essential for any start-up looking to streamline its inventory management process. A storage unit provides additional space to organise and manage excess inventory. Moreover, when your business expands and you require more space, you have the flexibility to upgrade to a larger unit based on your current needs with minimal fuss.

Learn More: 4 Ways Self-Storage Can Help Your Business

Organising your business inventory need not be daunting. With our helpful tips, you will achieve an organised inventory space in no time flat. And if you require storage rental, you are already at the right place! At Work+Store, we have various storage unit sizes available for rent at affordable prices. Do not hesitate to contact us today to request a quotation.

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