Improve your processes with streamlined small business inventory management.
Wallis Simpson, Duchess of Windsor, once said “You can never be too rich or too thin.” Substitute lean for thin and the same could be said for your small business. You can always use more cash flow and more time. This post is the first of a series that will illustrate how implementing some simple process improvement strategies can put you on the right track. If you're convince already, then try out our free small business inventory management system - Stockpile.
Before you can begin improving your processes you need to have specifics in place. Many small businesses begin with just one or two employees. Tasks such as your small business inventory management chores are challenging. Each new day is a learning experience and processes are created on the fly. Once you figure out the best way to do something you know how it should be done and there doesn't seem to be a reason to document the process. As you add new employees over time though, the need for a written process becomes apparent. If you have to explain the same process over and over again to each new employee this takes time. Your time is valuable, every minute you spend re-educating employees is a minute that you could be focusing on other more important tasks. For example, you could be using your time savings to create even more efficiencies. Imagine the time you'd save by introducing the world's best free small business inventory management system. That would be Stockpile; wink, wink:-)
Writing down the process can also help you identify ways that you could streamline it. You may notice as you record each step that there is some redundancy in the way you do things. Eliminating any duplication of effort can speed up your process effectively adding minutes to your day. If you happen to be in your place of business as you’re recording your process, look around. Are there any physical factors that impact how you do things? Could you move some furniture or reorganize a few items to help conserve your movements as you perform the given task? By grouping things that are commonly used together in closer proximity you can save actual steps and gain time.
Recording your processes is also good record keeping practice. Having accurate, easily accessible records ensures that you, or any other employee, can quickly locate necessary paperwork. Few things feel like a bigger waste of time than fruitlessly searching for something. It is so frustrating to not be able to find the receipt, invoice, or other paperwork that you need at any given time. As you get in the habit of recording things it becomes second nature. The next time you need a document you won’t have to wonder if you wrote down the necessary information. If you have a set process on where certain paperwork goes it will also be easy to find the exact piece that you need, when you need it.
Process improvement is key to growing your small business. Implementing Stockpile’s small business inventory management solutions are a great way to streamline your processes. As your business gets leaner, you will find yourself with more time which can ultimately lead to increased cash flow. Check back with us soon for more tips on ways that process improvement can positively impact your bottom line.
