#CASHFLOW SOFTWARE HOW TO#
#CASHFLOW SOFTWARE MANUAL#

One potential advantage of drop shipping could be the opportunity to reinvest any overheads typically associated with your inventory into your distribution and manufacturing funds thereby improving in these areas. By eliminating the need for ‘middle-men’ the delivery process, drop shipping simplifies stock management you may only need a laptop and internet to access stock around the world. What is Drop Shipping?ĭrop shipping removes the need for storage units and warehouses by having your products shipped directly from the manufacturers to your customers. Drop Shippingĭrop shipping is an order fulfilment method that some SMEs are utilising in order to streamline their stock management by minimising the steps required from production to product delivery. With this information, you may be able to make better informed decisions about your stock and can adjust your business activity (such as your advertising) to accommodate situations in which you might be missing stock, over stocked, or left with obsolete stock.

#CASHFLOW SOFTWARE MANUAL#

Manual checks provide an opportunity to confirm any data you might have from your stock management software, but also provide a unique opportunity to identify missing and damaged stock while taking note of any leftover stock you might have. Manual Stock Countsĭespite technology offering ease and speed, you may want to ensure that you regularly take manual stock checks. With so many moving parts, perhaps the most efficient way of managing inventory could be to embrace automation and utilise a digital inventory management platform to remove a lot of the manual work here and generate actionable insights quickly.

A whole host of considerations around how long you can hold stock for, expiry dates of products if relevant, and the exact impact of holding inventory on your business’ bottom line.

Current demand and how this is projected to grow and evolve.

Your historical sales records split by product, factoring in seasonality.

Current stock levels broken down by product.

Some of the key elements of that inventory managers should be aware of are: Getting familiar with and being in-the-know about your stock levels is the essential starting point for good stock management – and sourcing adequate working capital to grow and maintain these stock levels is critical.

#CASHFLOW SOFTWARE HOW TO#

If you are looking for more general tips on the management of business costs then you can find our tips and insights in our blog Business Costs and How to Manage Them. Ultimately, the businesses that manage inventory properly and are always able to meet customers’ demands could edge out over their competition and properly capitalise on demand spikes – which is why in this blog we’ll share with you our top tips for stock management that any small business could look to utilise. However, there are ways for SME owners to become more efficient in managing their stock, from practical considerations to adopting the right technology and tools, and even leveraging external finance to make cash injections at crucial moments. From sourcing raw materials to holding inventory, and building a distribution network to financing your entire supply chain, there are a lot of considerations to be made that often are heavily influenced by external market factors. Stock management can be an extremely complex discipline with a range of moving parts.

Cashflow software