Fourteen organizations from across the state received grants for projects in line with the mission of the Red Ants Pants Foundation. Grant funding from the Red Ants Pants Foundation will help with the production of a video for elementary students about the production of beef in Montana. Blue Dog Provisions are made of only one ingredient — smoked Montana beef, lamb and pork offal that come straight from the butcher shop! Funds from the Community Grant will be used for logo and packaging design.
With a POS, the ordering process is quite easy. Since a POS tracks your sales data and inventory for you, you can quickly place orders based on up-to-the-minute sales numbers and inventory levels. You can even set up automatic reorders or be notified you when products hit a low-stock level.
If you sell in any sort of volume, this automated convenience is a major timesaver. Creating purchase orders in Lightspeed 3. A sound process that includes checking all stock receipts against purchase orders minimizes these losses.
So another key aspect of small business inventory management is to have a standard method for receiving inventory shipments.
Suppliers generally include a packing slip that lists the items and quantities in your shipment. That leads to stock shortages, backorders, and ultimately, cash losses.
How to Accurately Receive Stock Shipments Ensure that you receive all boxes, containers, or other units in the shipment Unpack the shipment and organize items by product Check the items and counts against your PO If the counts and products match, receive the PO in your POS, as shown below.
Or, adjust the stock counts in your spreadsheet or manual inventory management system If you find errors like wrong, shorted, or missing items, note these on your PO and contact your supplier immediately to resolve Shelve or store all correctly received stock, tag or label first if needed for your system.
Unlike manual inventory management methods, when you receive the PO for a stock shipment in a POS, your inventory numbers are automatically, and correctly, adjusted. Receiving purchase orders in Lightspeed 4. Second, product labels, particularly barcode labels, help you closely track your inventory and speed up the checkout process.
If you carry a large inventory, say over unique products, barcode labels can make many key functions quick and easy. They speed up the checkout process, help you do fast and accurate inventory counts, and link each inventory item to your sales.
Regardless of the type of price tags or product labels you use, a good time to tag and label inventory is during the stock receipt process. You can simply build this step into the stock receipt process we covered above.
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If using a POS, you can even have barcode labels print automatically when you receive stock into the system, like this: Print barcode labels automatically with Lightspeed Once printed, labels can be affixed directly to product packaging or attached to hang tags.
In that case, your job is easy. You can just add a price label. A good small business inventory management system also records every order in detail, including each item sold. A small operation can handle this manually as long as inventory reductions are tracked regularly, say at the close of each business day.The importance of writing an effective business plan cannot be overstated.
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