Retail Inventory Basics – For Small Shop Owners

Running a retail shop? Here are the inventory basics you need.

Key Concepts

  • Stock in – When you receive goods
  • Stock out – When you sell or lose goods
  • Current stock – What you have now
  • Reorder point – When to order more
  • Lead time – How long until delivery

Common Mistakes

  • Not tracking daily
  • No reorder alerts
  • Mixing personal and business stock
  • Ignoring slow-moving items
  • No backup of records

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