Businesses that rely on products require an effective inventory management system. It might sound simple to keep track of all your inventory, to know what you have on hand and what you need to order, but the truth is that as your business grows it will become more and more complicated. Keeping track of a few shelves full of products is one thing, but when your business doubles or triples its customer base, reaches out online to expand beyond the local region or opens up a second and third location, your simple inventory management system just won’t be able to cut it.
Advanced Asset Management: Sales and Service Stickers
Rather than jumping into a complicated system that requires a lot of extra work on your part or additional man hours for your staff, it pays to think smarter and not harder. Advanced technologies allow businesses to take advantage of interactive sticker features, which can be affixed to products for sale as well as equipment for rent or lease, helping you to gain better control over your inventory management.
Custom nameplates and decals can also be scanned in to take control over maintenance, repairs and servicing, helping service oriented businesses to maintain better records and provide comprehensive service to their customers. There are lots of ways to use asset management stickers to your advantage for the betterment of your business. The more control you have over your inventory, the more time you will have to concentrate on marketing and making sales.
Businesses that rely on a structured inventory control system will also be able to keep a better eye on the bottom line, avoiding shortages and overstocking to provide more opportunities to show a profit each month, quarter and year. In addition to using professional quality asset management stickers from the Sales & Service Stickers Division of Nameplates For Industry (NFi), it is important to know which areas of your business to study and track for the best results. Knowing what’s in stock, what’s in demand and what you need to order so you can meet the needs of your customers is essential to growing your business.
Things to Consider for Better Inventory Control
When it comes time to think about how you will set up your inventory control system, it is important to consider what areas of your business are the most vital to your overall success. While there are some similarities to the way business is conducted for service oriented and product base businesses, there are still some very unique differences. To develop a system that works for you that can be used in conjunction with scan-able interactive sticker features and other types of asset management stickers, you must take into consideration a couple of specific measurable areas of your business.
- Use of Inventory – How much inventory do you go through in a week, a month or a quarter? Making sure that you have enough product on hand to meet consumer demand is vital. You can use sales and service stickers to keep track of inventory and make sure that you always have enough on hand.
- Business Growth – How fast is your business growing? What is your current market reach and what efforts are you making right now to increase your business? You will need to anticipate an uptick in inventory to go along with your projected business growth in the coming weeks, months and year.
- Space Available – The amount of inventory that you have on hand will be limited by the amount of space that you readily have available to store it. Asset management stickers can be used to make sure that you have enough stock without overstocking and filling up valuable space that could be used for other inventory.
- Order Time Frame – How much time does it take to place an order and receive that order in your store? If there was a rush on a single product today, how long would it take to get more products in your store to meet consumer demand? This can greatly affect how much inventory you keep on hand. Again, interactive sticker features can be used to provide you with a real time assessment of your inventory needs.
Use Sales and Service Stickers to Your Advantage
Once you figure out a system that works for you, it is important to stick with it in order to have better control over your inventory to maximize your earning potential. Asset management stickers, custom nameplates and decals, as well as other types of sales and service stickers can all be used to that end, helping you to know what you have, where it is located and identify quickly what you need.
For more information on sales and service stickers, as well as other types of interactive sticker features that can be used to advance your business, contact the Sales & Service Stickers Division of Nameplates For Industry. Call our customer service agents today at 855-510-4634 and find out how our high quality custom designed products can help you achieve your business goals.