Inventory Management for Small Business Owners

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For eBay sellers based in Australia, the most headache we are facing everyday, is to ensure inventory level is monitored closely.

However, if you are a one-man-team, or prefer to keep cards to yourself, then hiring a bookkeeper is not a wise choice.

So, how can you stay on top of your stocks while busy answering customer emails, checking bank records, dealing with paypal dispute and dispatching orders?

MYOB is a great accounting software. Quicken is also a great runner up. However it takes time to understand all the buttons and functions. If you could attend your community college for a crush course for a few hundred dollars at night, I'm sure it will be worth the time and efforts.

Also EXCEL is the best tool you can use, google 'inventory managment software' for Excel, you'd probably end up with hundreds of pages, but donot panic. Pick a few from Microsoft template library with more than four star ratings, I'm sure you'll find a template that suits your taste.

If you are just no way near computer literated, try to stick a blank piece of paper in front of the storage box, write clearly what's in the box and quantity. Whenever you or someone take one item out, record one stroke, if you take three, record three strokes. Say you've got 20 pairs of boxing gloves, when you see there are 15 strokes recorded, that means low inventory alarm, and it's time for you to pick up the phone and ring your supplier to get you more stock.

 

Of course, for powersellers, we use more advanced paperless inventory system that including a tailored in house software with a wireless scanner, the package starts from 1k upto 30k. For a size of OO, they started with a 200 sqm warehouse three years ago, and now they own a massive 6000 sqm!

Use technology wisely, you CAN grow!

Talk to your suppliers, they will also give you a great sugguestion (if they like you LOL)

 

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