Businesses need to have the right products in stock to meet customer demand, but carrying too much inventory ties up working capital that could be used more effectively elsewhere.
This is where having a good inventory management system in place can save your business time and money.
At Mackenzie Group, we can help you implement an inventory management system that is tailored to your business needs. We will work with you to understand your business operations and develop a system that optimises your inventory levels and improves your cash flow.
If you would like to learn more about our inventory management services, please contact us today.
Here Are 4 Ways You Can Solve Your Inventory Challenges With Mackenzie Group
The first step to having better cash flow is to take a close look at your inventory and see where you can make some adjustments.
Do you have products that are not selling as well as others?
Are there items that could be replaced with lower-cost alternatives?
Making some changes to your inventory mix can free up cash that can be used to pay down debt or reinvest in other areas of your business.
If you are still using manual processes to place orders with suppliers, it’s time to make a change.
Investing in an automated inventory management system will save you time and help you avoid mistakes that can lead to over ordering.
An automated system can also help you take advantage of volume discounts and other cost savings opportunities from your suppliers.
Having accurate sales forecasts is critical to maintaining the right level of inventory.
If your demand planning is off, you could end up with too much inventory on hand, which ties up working capital that could be used more effectively elsewhere.
On the other hand, if you don’t have enough inventory in stock, you could miss out on sales and damage your reputation with customers.
At Mackenzie Group, we can help you develop a forecasting system that takes into account your historical sales data, market trends, and other factors to give you a more accurate picture of future demand.
If you are having difficulty meeting your inventory needs with cash on hand, there are a number of financing options available that can help.
Invoice financing, for example, allows you to access the cash tied up in outstanding invoices so you can free up working capital to invest in inventory.
There are also government-backed programs that offer low-cost financing for small businesses.
At Mackenzie Group, we can help you explore your financing options and find the solution that best meets your needs.
What Makes Mackenzie Group Number One For Small Business
With over 10 years of experience assisting businesses just like yours, we have the know-how and skills to get the job done correctly.
We’re also trained in Xero, QuickBooks, and MYOB, so rest assured your books are in good hands with us.
Are you still not convinced?…