Inventory Control- the real thing

Fun or Not
It's a delicate process to ensure that what we have on hand actually matches what it says what we have on hand. 
No wonder others take 2-3 days off just to do this! We gotta keep up with this good practice!

what does our financial statement look like?

Honestly, I admit we are (or I am) way behind in doing our financial projection for year 2011.  But hey, rather late than never! 


And how can I have negative inventories?? So tricky!!

Inventory Control, and tips

Let me just say, it is not E-A-S-Y


1: make sure your placed PO matches with the inventory you received; and vice versa; always consolidate them when you receive goods
2: track your inventory diligently and accordingly; never delay or put off. 
3: have inventory count every once in a while (say, approximately 3 months or 6 months depending on how many different variety of items you have)
4: Always monitor your inventory flow and make sure you don't over stock 
5: Pay off inventory on time, and make sure you also have sufficient cash flow
6: For items you do'nt believe that can be sold, get rid of them quickly either by donating or give-aways to generate publicity. 


Will update as i think of something new!