- Write everything down. Whether you are counting inventory, taking notice of what’s arriving or what’s going out, write it down. Maybe on a post it note, or a spreadsheet, either way, this is a sure-fire way to find what you need later. Don’t worry about being too organised, worry about writing things down – no matter where they end up a month from now.
- Say no to metrics. Don’t use your data, or any kind of information you have gotten from outside sources or trends in the market. Sure, metrics could be helpful one day, but not today.
- Make sure to guess. Guess about the amount of inventory you have on hand or the amount you will need next month. Guess about how much you need for a season change coming up. If this fails, you could try to find that post-it note with last December’s numbers.
- Never double check. Know that once you’ve done your work, all will go as planned and everything you’ve done is top-notch. Besides, double checking takes time.
All sarcasm aside, these are habits and patterns that hurt our business, and we know that these things are not working for us, but we keep doing them anyways. It’s time to get an automated solution, it’s time to keep track of inventory the right way. We need those metrics, guessing doesn’t help anyone, and double-checking speaks for itself.
The point is, sometimes we need to take a step back and look at our inventory management processes and see what is working and what is not, and then change the areas that need improvement. Recognising problems is the first step to solving them.
If this post left you wondering how to keep track of your inventory the right way, download our free guide.