What is Inventory Management

Hi, i”m Christine. I am a dog mom to 2 dogs and a human mom to 3 daughters. I have successfully helped businesses make a profit. This is an important distinction. Sales do not always equal Profit. Let’s talk. About Me.

Rule Your Inventory

In a Perfect World….

In a perfect world, one and only one system would integrate ALL of the information you need to grow your business exponentially.

However the world is not perfect, and I’m here to explain, in simple terms, the systems you need to absolutely Rule the World of Inventory Management

#1: Information from the PAST from your POS

Use your historical selling reports from your POS as a planning tool for future selling. But, if that is all you are using, you are falling waaaaaaay short of selling opportunities. Historical performance is an unreliable indicator of future success. You need to add TWO MORE systems. Read on….

#2: Information from the PRESENT from your Inventory Management System (IMS).

This is where you manage all of your owned inventory. This is the gatekeeper that keeps up with what comes in and what goes out. Without this information, you are literally flying blind. (oh, but you think your POS is giving you this information? Put simply, It’s NOT! Trust Me or call me for an extensive explanation). eg CIN7

#3: Information for the FUTURE from your Inventory Planner (IP).

By now you should be seeing the pattern – using data from the PAST and PRESENT to plan for FUTURE sales. The very best way to do this is to use a forecasting system that crunches the data, uses AI, and dives deeper than any excel spreadsheet ever could. These reports tell you what to buy and when to have it in your inventory. eg Management-One or Inventory Planner

Here’s How They Interact Together: