Inventory management and accounting is a necessary part of any successful home service provider. Inventory should be a valuable asset but can be a nightmare if not properly managed and controlled. This requires that amounts be accounted for so that you are better able to determine efficient ordering intervals, pricing and potential loss through theft or breakage. I recommend that you outsource your physical inventory management through a third party like inventory specialist RGIS. The process of counting and managing physical inventory is time consuming and takes away from your core business strategy and expertise. Not to mention the fact that everyone hates it. RGIS can send as many “auditors” as you need, armed with wireless scanners to count, and they are efficient, cost effective and accurate. Everything is electronic, so they send me the inventory report as soon as they are done.
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