Counting inventory is something businesses should do frequently to make sure they know exactly what they have on hand and what they need to reorder.
In this video, James Shores talks about the importance of keeping track of everything in your warehouse(s) and how to efficiently count your inventory on a regular basis. Inventory includes raw goods, finished products, and assets you use in the production and distribution processes.
Counting inventory isn’t always as easy as going into your warehouse and looking on a shelf. These items can be in your warehouse, on consignment in several stores, in transit to their destination, etc. That’s why it’s helpful to have inventory tracking software, such as Fishbowl, to help you find out exactly where all of your inventory should be, what orders you have coming in and going out, and much more.
Check out the Whiteboard Wednesday video above for plenty of insights into how to count your inventory.
Robert Lockard is a copywriter with Fishbowl. He writes for several blogs about inventory management, manufacturing, QuickBooks, and small business. Fishbowl is the #1-requested manufacturing and warehouse management software for QuickBooks users. Robert enjoys running, reading, writing, spending time with his wife and children, and watching movies.