When it comes to freeing up capital to grow your business, you can start by looking for areas of improvement and planning to reduce areas of high cost. And since the bulk of your costs will be tied up in inventory, starting with reducing inventory costs is the perfect place to start.
Maintaining inventory is expensive. First you have to pay for the items, then you’ve got to keep them safe and looking good. On top of these, you’ve got a whole range of other inventory costs that just keep snowballing. These costs include:
If you’re wondering how to slam the brakes on these ever increasing inventory holding costs, we’ve got seven cost-cutting tips to keep your inventory lean and healthy!
If you’re part of the majority that doesn’t use a cloud-based inventory management software solution, it’s time to consider joining the movement. After all, most of your peers have enjoyed a significant decrease in time spent managing inventory… so why not join them and give it a shot?
Save time and money by signing up today!