The Latest In Inventory Control For The Small Business

Inventory control is an essential part of operating a small business. A big company might be able to afford losses. They sometimes include losses as a cost of doing business.

Smaller companies need to keep their costs down as much as possible. It helps them remain competitive. New technology has made inventory control easier and more accurate.

Investing in the technology today will save you money in the future. It could be the only way to keep your contracts.

The federal government and private companies alike have started requiring their suppliers to use RFID technology. Barcodes may be on the way out. The suppliers who do not have the technology will not get the contracts.

Your company’s equipment could be some of your most valuable assets. Knowing where the equipment is located at any given time and being able to print out accurate inventories could be necessary to keep or increase your line of credit.

Of course, the right tools for your small business depend on what your company does. RFID tags are the standard in animal management. Transportation companies are using a combination of RFID and GPS technology to keep track of their vehicles.

An experienced database designer can help you find the right tools for your company. Creating a customized system is so much better than trying to adapt an off-the-rack program to fit your company’s needs.

The big advantage of RFID technology has to do with the ability to evaluate current inventories accurately. In the old days, we had to look in the back or estimate on-hand supplies. On a yearly or bi-annual basis, we did a true count. The discrepancies were often huge.

There is no reason for any small business to guess in this day and age. Discrepancies are no longer inevitable. Products can be tracked from the beginning of the supply chain to the end; from the shipping dock to the customer.

Companies using the latest inventory control technology have found that employee theft is reduced or eliminated. The tools can be used to prevent embezzlement and fraud.

Within the retail establishment, the technology can be used to prevent shoplifting, another possible source of loss for the small business owner. Shoplifters are discouraged by in-store signs. If they happen to miss the signs, an alarm will sound if they pass through the door. Either way, the theft is usually prevented.

Inventory control should be only one aspect of your business. With today’s technology, it is one aspect you should not have to worry about.

Today, we have many choices when it comes to email and database marketing. Your primary goal is to avoid the spam filters. If you consider another direct marketing solution, such as regular mail, your goal is to stay out of your potential customer’s trash can. Here are a few suggestions that will help you achieve those goals.

One of the things that you might find tempting is to buy a list of e-mail addresses. Similar to buying a list of standard mailing addresses, this approach reaches a large number of people initially, but you could still miss your targets.

If you have done your homework, you have identified your niche markets. You know who your targets are. In other words, you have identified those people that are most likely to need your goods or services.

A direct marketing solution that does not target your niche is probably a waste of your resources. Most small businesses have a limited advertising budget. They need to make every penny count. Even if you don’t have a limited budget right now, it is best to stretch your advertising dollars as much as possible. You never know what might happen in the future.

Let’s look at a few examples of how you can hit your target with a direct marketing solution.

Retailers that provide baby clothing and other needs like diaper services can get together to create gift baskets full of samples for new mothers. Interior decorators can ask real estate agents to give their cards to new home buyers. Insurance agents can leave cards or brochures at automotive dealerships. And any retailer can participate in trade shows, handing out brochures and freebies.

When it comes to a small business email marketing strategy, one of the best is the online newsletter. You should be an expert in your field. People could benefit from your knowledge. Every time someone visits your site, you can ask him or her to sign up for a newsletter. In it, you can mention current promotions or future savings.

Practically anyone will agree that emails are today’s best direct marketing solution. Of course, you don’t have to limit yourself to one form of advertising. If you think that you can reach your target market through standard mail or trade shows, then go for it. Some people still read newspaper advertisements.

Never limit your choices. Take advantage of everything that your advertising budget can handle. Whether you decide to do small business email marketing or investigate other avenues, try to make those dollars work. It just makes sense.