5 Tips for Stock Management in Online Business | YOKESEN

5 Tips for Stock Management in Online Business
5 tips manajemen stok barang

As an online businessman, of course you are familiar with stock management. Then, how can you run a business if you run out of stock? So, for that you need stock management to regulate the amount of stock availability and storage of goods. There is also something more important, namely data collection on goods which includes the number of outgoing goods, remaining stock and additional goods.

With stock management, online business efforts can run regularly and accurately, making your online business able to run smoothly. Here are 5 tips for stock management in online business that you need to do:

1. Set the Minimum Quantity of Stock Items.
The first thing you have to do is determine the minimum amount of stock that must always be in the warehouse. If the item is approaching minimum stock, you can immediately order or make more. Adjust the minimum quantity to the speed of goods sales and the time needed to return stock to the minimum quantity.

2. Remove old stock first.
One of the most important stock management principles, always prioritize removing old stock. If you sell goods that cannot be stored for a long period of time, it is best to apply this principle to reduce the risk of loss.

3. Maintain Good Relations with Suppliers.
Maintaining good relationships with suppliers is one of the secrets to success in optimizing stock. Good relationships with suppliers can have an impact on timely delivery of goods from suppliers, special offers for your business, and low prices.  

4. Use ABC Analysis.
ABC analysis is a method in inventory management to control a small number of goods, but has a high investment value. There are products that need more attention than other products, for this reason use ABC analysis by looking at the product list and dividing it into these three categories:
A : High value products with low sales levels.
B : Medium value products with medium sales levels.
C: Low value products with high sales levels

5. Have Accurate Data.
For proper and reliable stock management,  you will also need accurate data. So, you need to have special personnel who are responsible for recording every incoming and outgoing stock of goods. Recording can also be done with the help of supporting programs to make it more accurate. When you have accurate stock data, it will be easy to estimate sales targets and goods needs in a period.

So have you currently managed your stock properly to maximize sales of your business products?


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