Another year has come and gone, which now leaves us reflecting on 2017. It was a big year for TradeGecko’s business tools as our suite of tools has continued to grow. These business tools provide SMEs with new ways to better manage their cash flow, calculate wholesale price, forecast sales and inventory, monitor marketing efforts, manage inventory, create invoices, minimize costs, generate SKU lists, order the correct amount of stock, and so much more.
Learn how to optimize your business by utilizing our free business tools.
Managing your purchase orders is essential to optimizing stock control. You must track sales orders, identify best sellers and have a good understanding of your business performance in order to be successful.
With these three objectives in mind, we created the Excel Inventory Management Template tool so that new small businesses can keep track of their stock, sales, orders, and more. This tool also helps you find out which products are best-sellers and total revenue generated as well enabling you to better understand your business’s performance, as it automatically generates reports showing how your products are moving. If you are a new small business looking for a short-term solution for inventory management, download this free tool now!
SKU is short for Stock Keeping Unit, which is sometimes known as the product code. Every variation of the product should have it’s own unique SKU. The SKU acts as an abbreviation of the product details and if you are selling a lot of products it is important to set up your inventory correctly. Another important part, if not the most important part, is the set up the product SKU. This helps track inventory and determine stock availability, identify shrinkage, replenish inventory, and identify the most profitable products.
To help you implement SKU best practices within your inventory system, download our free SKU generator tool! This tool makes it easy to determine stock availability, find and reference products, and identify the most profitable products. Set up your inventory correctly by using our SKU Generator tool today.
As we know, timing is critical for optimizing inventory control. You must minimize inventory costs and match customer demands in order to be successful. If you have your business up and running, you just need to look through your past records to figure out how much you've spent on stock and last year's demand.
With this said, we understand how important it is to reorder the right amount of stock and at the right time. To help you out, we’ve designed a Reorder Point Calculator which tells you when to order more stock and lets you know exactly when it’s time to place an order for a new shipment of products. Download this free tool and start ordering stock more efficiently!
We hope you find these business tools helpful and will start the new year off right!
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