[2022/12/16 07:28:44]

Stockouts’ most obvious negative impact is lost sales, but that’s not all. Going out of stock can lead to a negative brand reputation with customers, especially if they’re left wondering when the item will be available again. The post Stockouts: What They Are and How to Prevent Them appeared first on Shopventory.

[2022/11/21 02:21:37]

This guide gives you a complete overview of the key elements of small business inventory management. You’ll also learn some helpful techniques and best practices for inventory management you can put to work in your business. The post The Complete Guide to Inventory Management appeared first on Shopventory.

[2022/07/29 03:59:01]

Staff, ingredients, customers, profits: you know these are key factors that affect restaurant performance and success. That’s why having accurate updates on each of these elements is important for deciding how to move your restaurant forward. These details are summarized in a report – or more accurately, multiple reports – which you and your stakeholders … Why Restaurant Reporting Is Essential for Your Business – and How to Start Using It Read More » The post Why Restaurant Reporting Is Essential for Your Business – and How to Start Using It appeared first on Shopventory.

[2022/06/20 08:03:10]

Your inventory is what keeps your business running. It comprises all the materials and products that make your shop unique and keep customers coming back. That’s why proper inventory control and stockroom organization are key to successfully running your business. Below, you’ll find several tips for storing your inventory and making the most of your … The Best Inventory Storage Strategies For Small Businesses Read More » The post The Best Inventory Storage Strategies For Small Businesses appeared first on Shopventory.

[2022/04/01 06:52:20]

Your federal taxes are sent through the IRS to confirm your tax liability. By filing business taxes accurately you are less likely to be targeted for a tax audit which is an extensive and painstaking review of your business's financial records. The post File Your Small Business Taxes like a Pro in 2022 appeared first on Shopventory.

[2022/01/24 10:30:47]

Properly managing inventory levels is an essential part to every business. But what happens when you have too much inventory? Excess, or surplus, inventory refers to products or ingredients that are nearing the end of their product life cycle. The post Have Excess Inventory? Here are 5 Ways to Make a Profit appeared first on Shopventory.

[2021/12/09 06:03:24]

When you account for all your audience's senses, you'll start to notice it exposes things in your business you may not have easily noticed before. Making sure all five of your customers' senses are catered to will make shopping in your store more engaging. Shoppers will be more inclined to come in and look around, even if they're not quite sure why. The post How to Use Sensory Marketing in Your Retail Store appeared first on Shopventory.

[2021/12/07 06:24:42]

Completing a physical inventory count is important for meeting customer expectations and determining your ending inventory value. Your ending inventory value is used for tax purposes and financial statements during the next accounting period. Conducting a year-end inventory count and calculating ending inventory can put a lot of pressure on retailers. That's why we compiled this guide to walk you through your end of year inventory tasks step by step. The post How to Calculate Ending Inventory Like a Pro appeared first on Shopventory.

[2021/10/29 06:48:58]

The products and variants that make up a physical or e-commerce store's inventory is known as product assortment, or merchandise mix. A comprehensive assortment strategy includes the different product categories you stock, as well as, any variations in each product line. The post Optimize Your Product Assortment appeared first on Shopventory.

[2021/10/20 10:40:20]

Opening a second location is a great way for small businesses to expand growth, profit, and their footprint. However, it can also be a risky gamble. Each new location means additional fixed costs and new challenges. Without the right combination of financial and strategic resources in place, a poorly thought out expansion can easily stunt a growing business. The post 5 Questions to Ask Yourself before Opening a Second Location appeared first on Shopventory.