Inventory management isn’t just an ethereal concept – it affects us on a daily basis. I will share a personal experience that shows how one instance of poor inventory management can cost a business money. Here’s how not to do your inventory management:
My Experience Almost Buying
The other day I went to a department store (which shall remain nameless) to get a baby play yard. I had gone to the company’s website and it said they had that particular product in stock at the store nearest to me.
Unfortunately, I couldn’t find the product on the shelf, though I did find the barcode and price on the shelf where it should have been. I asked a clerk to help me and he gladly did. He scanned the barcode on the shelf and said his barcode reader displayed two of that product in stock. But he couldn’t find either of them on the shelves.
We looked all around, but they appeared to be lost somewhere in that enormous store. He had no way of tracking their exact location or finding out where they had been placed. Maybe they had been put in the wrong place soon after they were received or maybe a customer had moved them.
The end result was I left the store empty-handed.
How to Locate Inventory
You need a good inventory locator to help you find products and get them into the hands of your customers fast. Lost inventory doesn’t do you any good. Having the right products in stock is important, but being able to find them is even more important. Inventory tracking software offers tools to help you locate inventory.
You should learn from my experience and start using Fishbowl’s inventory tracking software as your inventory locator!