Tools and Tips to Manage Inventory for Cell Phone Suppliers
Wholesale cell phone businesses deal with the sales and purchase of cell phones and their accessories. Keeping track of both of them can be very frustrating. Your business dealings can become easy if your inventory is managed and well-organized.
Why Is Cellphone Inventory Management Important?
Every successful business has an efficiently functional inventory. It would be challenging for you to achieve success in your business without having a well-organized inventory. If you still use a pen and sheets to keep a record of your sales, then you might not be able to compete in the market. The wholesale mobile phone business requires you to have an inventory that can function at its optimal potential. Now that you know how important it is to manage your inventory, let's discuss how you can manage it.
Best Tool and Tips to Manage Your Inventory
The following tools and tips can help you keep your inventory managed;
- Get A Cloud-based Inventory Management System
The best way to manage your inventory is by installing a cloud-based inventory management system. You will get real-time data on your stock and inventory-related tasks. With the help of an inventory management system, you will be able to manage your inventory efficiently.
Recommendation
The market is exploding with inventory management tools that provide various features. We suggest that you get an inventory management system that is active and reliable. SeeBiz Inventory is a business tool that can help you with the most inventory-related tasks. It is one of the best tools to automate your daily business handlings. Let's check some of the best features of SeeBiz Inventory below:
With this inventory management system, you can keep a record of sales and purchase flow.
You can keep track of your products from order confirmation to packaging and delivery.
You can add all your business contacts to the vendors and customer list. You can also instantly contact your customers within the inventory.
SeeBiz Inventory will notify you whenever a product reaches its reorder point.
With this inventory management system's help, you can get regular reports of your daily business tasks.
The best thing about this business tool is that it is simple and easy-to-learn, making it perfect for the newbies.
You can use all the premium features for free until the end of the trial period of three months.
- Quality Control Is Essential
Quality control is essential for the management of your inventory. It would help if you have got an inspection officer to check the stock for any damages and faults. Ask your inspection officer to provide regular reports. There should be no compromise over the quality of your products. Remember, customers, come to you because of the quality of your cell phones. If you fail to provide the best quality, then your clients may not come to repurchase.
- Use the FIFO Approach
FIFO (first-in, first-out) is especially useful for a cell phone wholesale business. That is because everyday new cell phone models are introduced in the market. People prefer to get new and advanced cell phones than the old one. That is why you should use the FIFO approach to keep your inventory well-managed.
- Detect Low-turn Stock
The management of your inventory needs to detect the low-turn stock. You should have a contingency plan to deal with the low-turn items in your inventory. Identify the products that have the least or no sales in the last six months to one year. After detecting your low-turn items, use your contingency plan to decide what you should do with that stock. By detecting your low-turn stock, you will also know which stock items should not be purchased in the future. Tip: You can offer special discounts and deals to increase the sales of your low-turn items.
- Replenishment of Your Stock
If you ignore the replenishment of your stock, then you might not be able to fulfill orders. That will disappoint your customers, and you may even lose your clients. To deal with this, keep track of your cell phone stock in a way that, whenever a product is about to end, you should know it. With the help of SeeBiz Inventory, you can get a notification every time a product reaches its reorder point.
- Allocate Your Stock
To manage your cell phone inventory efficiently, you should make it easier for your workers to locate the items. Try to assign locations to each cell phone as soon as a new batch arrives at your warehouse. When you add your products' location in your inventory management system, you can find any item within seconds. It is especially useful if you have more than one warehouse.
Summary
If you want to grow your wholesale cell phone business, make sure that your inventory is managed. It is essential to adopt the latest business tools to stand out among your competitors. We hope that the guidelines mentioned above will help you in making your inventory efficiently. Do let us know which tool is the most effective in your viewpoint.