|
Post by brandonnajolia on May 13, 2014 12:47:31 GMT -6
Inventory is definitely something that can creep up on a new business owner. Inventory control is a major factor in a successful business. When you over buy inventory, you end up in debt and not selling enough items for the amount you bought. Yet, at the same time, when you under buy inventory your customers aren't getting their items on time and are having to wait longer periods before receiving the item they bought. It's a pretty large balancing act and I like that they started using and inventory control system because I think that is probably the most effective way of controlling inventory problems.
|
|
|
Post by patiencedaigle on May 13, 2014 14:05:48 GMT -6
Inventory control has a great part in managing or owning a business. It is important to keep a close eye on inventory levels because if money is being spent on inventory that is not moving the business could suffer greatly.
|
|
|
Post by jgilhaus on May 13, 2014 15:19:57 GMT -6
Running a small business can be very complicated. My dad owned his own business and I saw the many struggles that he went through. While the speaker found a way to bring in his brother to assist with inventory, many times it is difficult for a small business owner to allow someone else in. Control can play a big part in the success or failure of a small business.
|
|
|
Post by wdeben on May 13, 2014 16:54:42 GMT -6
I agree with this video. Inventory can kill your business because it might not move. And when it doesn;t move the bills don't get paid. Developing a new system sure helped this guys company.
|
|