Stocking the appropriate amount of inventory is essential, failure to do that your customers might start looking elsewhere for products. If you order a lot of items, you might end up having too much stock and later end up selling them at clearance prices or have dead stock.
In a poll conducted by GetApp business owners were asked the methods they used when reordering inventory. About 46% of them said they reordered based on the stock of the previous months. If by any chance you fall into that category of 46% you want to have the right data when it comes to reordering inventory. Which means that you are required to look for solutions that will help you in tracking data of your stock.
Even if you decide to use inventory software or excel formulas fact is that you will still be needed to use the information of the previous months.
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