Inventory management - How to manage small business

Inventory management is crucial for every business to ensure that it doesn’t run out of the bestselling stock or has minimal product wastage. Huge businesses rely on inventory management softwares to fulfill this need and run their business effectively. However, small businesses may find it tough to follow the same as such software may be expensive. Don't worry, there are inventory management apps available which are easy as well as free to use and can help you in managing your inventory in the below mentioned ways.

Organize product information

You can start managing your inventory by organizing the product information. Lots of companies do this manually on spreadsheets; however you can use a billing app cum inventory management app for automatic updation using scans. 

Create purchase orders

The simplest way to keep track of your products is to keep their purchase orders. An inventory management app allows you to create purchase orders in a few clicks. Count on the reliability of these billing apps to manage business well.

Stock count

Once the new stock arrives, you can scan it and update it in the inventory management app. As the stock sells, it gets subtracted real time from the stock in hand the billing app. This way you will truly be able to keep a check on the stock and lower the risk of pilferage or wastage.

Improve transparency

An inventory management app enables you and your employees to see various details about a product such as whether it is in stock, when it arrived, supplier details, expiry, etc. This way you can ensure transparency in handling of goods from their arrival to sale.

You can do much more to manage your business well with the help of a billing app. The mBill inventory management app is also such an app. Download it from Google Play Store to explore new ways of inventory management.