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August 3, 2011 · No comments

Tending to Your Inventory

Have you considered all potential costs of storing and handling your products?

Managing inventory is an important part of managing a business, yet sometimes it’s a task that’s given too little consideration by budding entrepreneurs. Especially in the case of new businesses, inventory will often account for the largest part of the company’s startup investment and, as such, needs to be positioned to be properly established, organized and tended to. Read More

March 17, 2011 · No comments

Time for Tough Love with Your Inventory?

If your product line isn't adding to the bottom line, get strict to get it into shape.

One of the keys to running a profitable online store is inventory turnover. The faster you sell, or “turn over,” your product line inventory, the more profitable your store will be. Unfortunately, one of the biggest problems I see when consulting with online sellers is “inventory bloat”—a build of up stale inventory sitting on the shelf waiting to sell. Read More

June 21, 2010 · No comments

Know When to Hold ‘Em, When to Fold ‘Em

How long should you keep items in inventory?

When I went looking for a loan to start our garden shop, the first question I was asked was: “How much inventory per square feet?” Because it was a physical brick-and-mortar store, inventory turnover, as well as value of the goods, was considered a big part of the profitability equation. Read More

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