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Managing Inventory during the Holiday Season

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It doesn’t matter if you sell shovels or phones, during the holidays a lot of goods are flying out the door. Making a list and checking it twice makes sense for small business owners managing inventory during the holidays—otherwise known as a physical inventory audit. Rachel Ann Austin draws … [Read more...]

Should Your Business Be Using QR Codes?

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Are QR codes dead? Ask Google that question and you get a variety of different headlines and just as many opinions.  A number of journalists have provided arguments for and against using QR codes in business. In her Ad Age article, “QR Codes Are Dead, Trampled by Easier-to-Use Apps,” B.L. Ochman … [Read more...]

Year-End Write-Offs That Could Change Your Financial Statement

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With the calendar year drawing to a close, many businesses are looking at what can be done to improve their financial position for the new year. According to CNBC, there are a number of inventory and asset-focused activities that your small business can complete this month to help take advantage of … [Read more...]

Three Ways to Prepare Your Inventory for the End of 2014

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As the end of 2014 approaches, your small business is likely focused on a number of different objectives, including holiday sales and closing out your books for the calendar year. Inventory impacts many of these year-end objectives, and as you prepare for 2015, consider these three tips to ready … [Read more...]

Three Episodes of The Profit and the Importance of Good Inventory Practices

Three Episodes of The Profit and the Importance of Good Inventory Practices

In CNBC’s The Profit, Marcus Lemonis invests his time and money to turn around struggling businesses. The reasons for each business’ lack of success cover a range of bad business practices. However, the show’s second season (particularly episodes in the second half) pointed to bad inventory … [Read more...]

After the Storm: The Importance of Accurate Asset Records

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Superstorm Sandy, hurricanes Katrina and Rita, and the 2013 OK tornados were all shocking, unfortunate reminders of Mother Nature’s power. While some businesses, homes, and schools escaped relatively unscathed, others suffered catastrophic losses. Unforeseen disasters, natural or otherwise, can … [Read more...]

What is Small Business Saturday?

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Small Business Saturday is a community event celebrating the retail businesses and services that support your community. It’s most popular date is the Saturday just after Thanksgiving. Think of it as supporting your community’s business owners who provide jobs, as well as their customers, who love … [Read more...]

Spreadsheet Accounting: Fixed Asset Management

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When you first imagined starting your small business, you probably envisioned all the benefits of ownership: freedom to make decisions, being your own boss, and, of course, future profits. In fact, financial success is more than likely the driving force behind your persistence. However, financial … [Read more...]

Black Friday: Preparing and Maintaining Inventory for the Rush

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For many retailers, Black Friday is a hectic mess of organizing, planning, and logistics. Whether a store's Black Friday sales are successful is highly dependent on preparing prior to the rush -- and each year there is more to accomplish before doors open.  In 2012, Black Friday shopping hit a … [Read more...]

Push vs. Pull Inventory Management Strategies

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Most companies have a better chance to profit and satisfy customers when inventory managers develop an effective and efficient inventory management strategy. The right strategy ensures access to the right products, and it also helps control costs associated with buying and storing goods. … [Read more...]