How to make inventory for small business

How to make inventory for small business software#

Then, in the spring, when my shoes get delivered, I can use my PO forms to make sure that my quantities, sizes, and models arrive accurately. I would fill out a purchase order form with the exact shoes and quantities that I want, see the total price, and submit my PO to the supplier with a delivery date. This will help you stay on top of your inventory counts and prevent shrinkage.ДЇor example, say I want to order 300 pairs of shoes from my favorite supplier for this coming spring. Keep track of your POs so you have a record of everything you purchased from your supplier and can cross-reference your deliveries with what you actually expected to receive.

Lightspeed Retail has a built-in vendor directory and product catalog so that businesses can send POs directly through their software. POs are financial transactions, so create them when you have time to review your cash flow and realistically forecast your stock needs. They are the easiest way to manage your inventory purchases, letting you track every stock purchase efficiently, from placing the order to receiving the shipment and paying the bill. Step 2: Create & Submit Accurate Purchase OrdersД®ssentially, POs are buyer-created receipts that document the sale of products to be delivered on a future date. Retail and ecommerce businesses can build strong relationships with product suppliers by sticking with the same suppliers over a period, meeting suppliers in person at trade shows, and, perhaps most importantly, paying invoices on time. If there is a quality control issue or a discrepancy with a purchase order (PO), having a good relationship with your supplier can help resolve these issues quickly. When this happens, retailers are at the mercy of their suppliers.

How to make inventory for small business software#

There are also a number of free inventory management software available.Д«uild Relationships With Product SuppliersД®ven with the best inventory management plan, issues can still arise where you need products ASAP to fulfill an order. Tip: Not ready to invest in a POS system with inventory management capabilities? No worries.