8 Reasons to have an Inventory Sheet for your Crochet Business
I would have orders come and begin to pack orders just to realize that I’m out of stock of this product. How did I not know this? Frustrated and ended up with a late package because now… I have to crochet the missing product. and this causes a chain reaction. Stress ads to the issue and the possibility of negative or unhappy customer. Avoid all this and more by simply having an INVENTORY SHEET.
Here are my top 8 reasons why your small business needs an inventory sheet.
- Stock Control: An inventory sheet enables you to keep track of the quantity of yarn, hooks, and other supplies you have in stock. This prevents overstocking or running out of essential materials, ensuring you can meet customer demands efficiently.
- Cost Management: By recording the cost of each item in your inventory, you can monitor your expenses and allocate your budget effectively. This information is vital for pricing your crochet products to ensure profitability.
- Identifying Popular Products: Analyzing your inventory data can help you identify which crochet items are in high demand. This information can guide your product development and marketing strategies.
- Reducing Waste: With an inventory sheet, you can track expiration dates or shelf life for certain materials, such as yarn, and use them before they become unusable or outdated. This minimizes waste and maximizes resource utilization.
- Order Planning: Having an accurate inventory sheet allows you to make informed decisions when reordering supplies. You can avoid rush orders, save on shipping costs, and maintain a steady supply of materials.
- Customer Satisfaction: Consistent availability of crochet products is crucial for keeping customers happy. An inventory sheet helps ensure you have the necessary materials to fulfill orders promptly.
- Time Management: Searching for materials can be time-consuming. With an inventory sheet, you can quickly locate the materials you need, reducing the time spent on tracking down supplies and increasing your productivity.
- Financial Planning: An inventory sheet provides valuable data for financial planning, including determining the value of your assets, assessing the overall health of your business, and preparing for tax reporting.