How to Manage Inventory for a Home Jewelry Business
When running a home-based jewelry business, it's important to effectively track your inventory. After all, there's nothing worse than having the rush of a sale quickly dampened by the realization that the jewelry the customer ordered is out-of-stock. The frustration a customer feels at being told that they can't have the jewelry they ordered might leave them hesitant (or completely unwilling) to do business with you again. The bottom line is that not effectively tracking your inventory can leave you and your customers stressed and can ultimately affect your bottom line.
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Things You'll Need
- Inventory management software
- Spreadsheet software
- Point of sale software
Instructions
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Acquire inventory management software. Inventory management software can be used to send quotes and invoices to customers, print shipping labels, and track your inventory. inFlow works well if you have a small product list and RetailEdge works well but can be a bit pricey for a small, home-based business.
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Try a Point of Sale system that will allow you to accept payments in addition to tracking sales in real time. These systems also tell customers when an item is out of stock, track purchases and returns, and provide detailed reports for your review. Imonggo is one example.
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Manually manage inventory. Create a spreadsheet that lists each piece of jewelry within your inventory and has space for you to note when you've sold an item. Ensure you don't forget to mark any sales as a missed mark will throw off your inventory count.
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Implement a barcode system. This is a bit more involved, as you need to purchase a hand-held barcode scanner, barcode stickers for your merchandise, and software to manage the whole process. When you're ready to take inventory, just scan the barcode on each item, and the software will automatically track your inventory for you.
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