September 2022

Inventory management for small business owners

As every small business owner knows, disruptions in the supply chain can really affect your ability to deliver for your customers. Smart inventory management can give you a competitive advantage in today's business environment.

An article on Bank of America's Small Business Resources site covers the subject thoroughly. After explaining why inventory management is important, the article separates inventory into five different categories, then goes on to list nine management techniques to consider — things like using bar codes and batch tracking to keep your goods and raw materials flowing according to plan.

The article also explains how you can use a point-of-sale (POS) system to help you track inventory. The latest POS systems come with powerful software packages that can save you time and money. Interested? Your banker will be able to point you in the right direction.

To discuss your business goals, set aside some time for a call with a Small Business Specialist.

MAP4881812 | 08/2022