3 Ways for Small Business Owners to Improve Inventory Management

As a small business owner, you may struggle with disorganization as you learn how to manage your employees’ day-to-day items, your own to-do list, and your inventory. Read through the following three tips from iLogistics USA to gain a better understanding of proper inventory management, and focus on small steps you can implement to improve your team’s productivity over time.

1. Hold Regular Employee Meetings

You may wonder why so many small businesses close within their first year. There are several reasons, such as mismanagement of money, hiring the wrong people, and competition. For fast-growing businesses, it’s crucial to hold employee meetings on a regular basis to ensure that everyone is on the same page. You may hold a meeting at the beginning of the week and a recap meeting at the end of the week, or you may start every morning with a simple, short check-in with your team.

By completing regular check-ins along with scheduling occasional one-on-one meetings, your employees will know that you are keeping a close eye on both their work and the business’s inventory. With appropriate oversight, inventory is less likely to be lost or logged incorrectly. Timely check-ins also allow you to take a more hands-off approach throughout the week and resist the urge to micromanage your team.

2. Implement Shift Scheduling

Similarly to holding regular meetings, it’s important to create a schedule ahead of time for your employee’s weekly or monthly shifts. When your employees are able to look at the schedule and communicate to you and each other beforehand if there are any problems or overlaps, this helps the rest of your business — including your inventory management — run more smoothly.

Consider using shift scheduling software to repeat schedules, track past schedules, and send employees notifications if there are changes. It’s not necessary to use a complicated project-management app, but you should invest in a program that gives your employees clarity when it comes to when they work and whether their shifts have changed.

3. Use Time-Tracking Software

You can use a time-tracking app or software program as a part of your shift-scheduling program or separately. Time-tracking software such as a mobile time card app can help your employees stay on top of their weekly schedule and inform you of their hours worked. It’s important here to integrate all of your employee’s schedules into the same program. If you are running two or three different methods of time tracking, including timesheets completed by hand, you run the risk of losing track of your inventory — as well as your employees.

Depending on your line of work, you may consider using a GPS tracker with automatic notifications when your employee should clock in and out. Automating this part of your small business's daily operations can help with time management and overall productivity. Additionally, making your time cards digital can improve your company’s overall transparency and boost your employees' accountability.

If you’ve hired employees who value productivity, using time-tracking apps and shift scheduling software may be a relief to them as they are better able to organize their days at work and plan their weeks around their schedule. When your inventory management allows for more efficient work and your employees are able to integrate that work into your overall vision, your fast-growing business will thrive!

Looking for a way to streamline your inventory-based business and cut down inefficiencies for good? iLogistics USA offers the right solutions. Learn more.