Tips for Small Business Inventory

 

  • Clear out old or out-of-date inventory

 

Clutter is the killer of productivity. And when you aren’t able to be productive, you lose money and tend to be much more stressed. The first step toward getting a handle on your inventory is to clear the old product sitting around, cluttering your home or work space. Clear out anything you haven’t used for 6 months and anything you haven’t sold in a year- discount or donate what you can. Make yourself a one-on-one rule where new products don’t come in until the old products go out. 

 

 

  • Keep your inventory organized

 

Small business inventory management doesn’t have to be complicated, but the amount of work it requires will depend on your business type. If you have a whole lot of the same product or supplies, this process will be more concise. If you have only a few of each thing (artwork for example), it could be a longer, more detailed process. It’s so important to your productivity and mental health to stay organized. You have a lot to do and a lot of details to consider, so help yourself out by staying on top of inventory organization to prevent wasting precious time down the road. Make sure you use a system that works and makes sense for you. Boxes are a great idea, but it’s critically important that you label them- write a list of contents on the outside or tape a photo of the contents or another method that works for you.

 

  • Use an Inventory Management App

 

You may or may not have the resources right now for a high dollar inventory software, but there are some good apps out there and some of them are FREE. Others cost money, but may be able to better help with your specific situation.

Here are a few popular, highly rated apps to look into:

As your business grows and your needs change, you can try out a different app or software.

 

  • Store inventory in a climate-controlled self-storage unit

 

A specifically climate-controlled unit is great for storing inventory because you won’t have to worry about pests and damage, plus it’s great for storing any electronics or anything delicate. When storing your inventory in your climate-controlled self-storage unit at Space Savers on Hwy 280 in Birmingham, AL, keep these helpful tips in mind:

  • Keep an inventory list- the more specific the better. If you have employees or a business partner, this is a crucial step since you won’t be the only one adding things to the unit or taking things out.
  • Label everything! You’ll thank yourself later when you’re searching for something specific.
  • Keep your best selling products near the front so you have faster access to them.
  • Only give the key or access code to employees that you trust. Set expectations with them.

Whenever you visit your unit, ask yourself the following questions- 

  • Is my inventory up to date?
  • Is the unit tidy and organized?
  • Am I low on anything?
  • Do I still have plenty of room or do I need to upgrade to a larger unit?

Would it be easier and cheaper to rent an office space for my small business inventory?

Renting rates are currently around $16.43 per square foot in areas near our Hwy 280 Space Savers location. Renting a self-storage unit with climate control costs a fraction of that per square foot and with so many size options, we’re sure to have a unit that’s the perfect fit for your small business’s needs. 

When you’ve decided a Space Savers climate-controlled, a self-storage unit is the best storage option for your small business inventory, schedule an appointment to tour our Hwy 280 Birmingham location and discuss pricing and rental agreements. We look forward to helping with your growing business’s inventory needs. 

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