Keeping up on Inventory
BLAH!! I feel like I am having a hard time keeping up on my inventory. I am solo- new business- still a small budget to work with... doing pretty good with retail- but it seems like I can only place small orders at a time, restocking one or two deep at the most. So I am paying a good bit of shipping this way, and every time I turn around, am running out of something!
Any tips on keeping up on this better?!?
Thanks!!
Views: 281
Replies to This Discussion
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Permalink Reply by Sheila Gordon on
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I am having this same problem...I stock two of everything because of budget and then it seems I will sell two....then the last one...then I need to reorder and I am getting charged shipping and a $5 handling fee if my order is under $250.
Hope you get some great feedback on this because I would love to know myself.
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Permalink Reply by Ann Prendergast on
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I had this problem too when I first started out...well, actually for the first year or so! Then I decided to carry lines that weren't available on-line or elsewhere (I was using and retailing gloTherapeutics and gloMinerals at the time) I simply referred clients to their website for ordering...yes that meant no retail income, but also their shipping was always about $25 each order, plus if a client can order from them, why should I carry them? I found Skin Script and their shipping is super FAST and always just $5 so I can afford to order more often and this line is only available to esties...I also use products from Universal Companies catalog and their shipping is reasonable...
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I am using the gloTherapeutics and the shipping charges are killing me. I love their product though. I am hearing more and more about Skin Script though and I am going to have to look into the line for sure.
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Permalink Reply by Cindy Greenwood on
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I use primarily Skin Script - no mins and low shipping.
But I am in the same position - I JUST placed an order and now I need to order again!
After awhile I am sure that it will get easier.
FWIW - shipping/freight charges are a deductible business expense.
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Permalink Reply by Gina Williamson on
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Oooh I didn't realize that, Cindy!! Thanks for that tidbit!!
I use Image so I do have the "no online" aspect.
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Permalink Reply by jackie mozingo on
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Really, my bookkeeper said no to the shipping expenses. I will have to check in on that.
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Permalink Reply by Lori Taylor on
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My business is nearing it's 2 year anniversary and I have the same issue, however I don't really consider it an "issue". Here's how I view it, my product vendor has no minimums on orders and for a small business like mine is very beneficial. I tell my clients that I place my orders once a week, on Mondays (when I'm closed and do my accounting). My vendor is also local to me but we can't pick up orders, so I still incur shipping/freight charges, I have my order the next day on Tuesday as long as I order by noon on Monday. I work on a cash basis (no credit) and so I would much rather incur shipping then have tons on inventory that sits on the shelf and has eaten up my cash flow....make sense? I started in a small room that I rented, I now have a location that gives me 3 treatment rooms and waiting area, so as my business grows so does my inventory, I now have a locked product case with 3-4 of my most popular products.
As far as I know the shipping/freight is deductible, it's an expense.
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Awesome Lori! I wish I had a one day turnaround for product- mine is more like 4 days- but a weekly order is not a terrible idea! I was thinking of ordering once every 3 months, a giant order... but perhaps starting out that is not such a smart idea.... instead of always being a slave to the credit card.....
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Think inch wide mile deep. In other words, choose fewer sku's, know them well, stock them deep and slowly add new sku's as your clients skin evolve and require new serums, etc.
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