Lean over and I’ll tell you a little secret about lean inventory management: You don’t need to stack boxes so they look like the Leaning Tower of Pisa to have lean inventory management. Why am I starting this blog post with a silly pun? First, because I always enjoy a good joke; and second, because… ahem, let’s move on.
Lean Means More Green
Lean inventory management is all about cutting the fat out of your business and finding just the right balance between too much and too little inventory on hand. That means no more hoarding products just because you can get them cheaper by buying them in bulk, and no more guessing how many products to keep in stock.
You have to carefully weigh each decision to make sure it’s in your company’s best interest. As you do this, you’ll start to see something strange and wonderful happen in your business. You’ll save money and become much more efficient. All the money you were spending on slow-moving products will be able to be put to better use.
Imagine needing less storage space, fewer warehouse workers, and having faster delivery times. All of this is possible when you use lean inventory management.
Now is the part where I come clean and show how to achieve lean inventory management. It takes hard facts and a constant stream of new data coming in to replace intuition and guesswork. The best way to gain access to all of this information (and to make it comprehensible) is to use QuickBooks inventory software.
QuickBooks inventory software is a combination of QuickBooks accounting software and inventory management software. When these two systems integrate with each other, they allow you to track product orders, sales, deliveries and much more. Then you can generate reports that show seasonal trends, which products sell well in different locations, and other insights. All of this helps you make smart decisions about what products and quantities to order.
Lean inventory management is something every business should aspire to. And it’s something every business can attain if they’re willing to put forth the effort. By using QuickBooks inventory software and putting inventory data to good use, you can save money and be more efficient.
Sign up today for an inventory software demo to see how your company can start benefitting from lean inventory management.