{"id":12419,"date":"2024-01-31T15:49:00","date_gmt":"2024-01-31T22:49:00","guid":{"rendered":"https:\/\/blog2.neighbor.com\/storage-blog\/?p=12419"},"modified":"2024-01-31T13:50:03","modified_gmt":"2024-01-31T20:50:03","slug":"inventory-control-techniques","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/","title":{"rendered":"7 Inventory Control Techniques For Your Business\u00a0"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><p class=\"wp-block-paragraph\">Is your small business filled to the gills with inventory? Or is it always running out of your best-selling products?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Inventory management techniques can help solve both of these problems, and can even help boost sales, meet customer demand, and reduce stress. In this article, we&rsquo;ll discuss some of the best inventory management methods, as well as provide some tips for how to maintain efficiency, reduce inventory costs, and stay agile in an ever-changing market.&nbsp;<\/p>\n\n\n\n<h2 id=\"what-is-inventory-control\" class=\"wp-block-heading\"><strong>What is Inventory Control?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Effective inventory control is the bedrock of successful business operations, ensuring optimal supply levels, cost reduction, customer satisfaction, informed decision-making, and risk mitigation.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At its center, inventory control encompasses key principles such as demand forecasting, <a href=\"https:\/\/www.neighbor.com\/storage-blog\/five-things-consider-renting-warehouse\/\">warehouse<\/a> flow, and stock rotation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The core tenets of inventory include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Monitoring inventory levels<\/strong> &ndash; Recognize products in demand and <strong>set up your systems around the <\/strong><strong><em>reorder points<\/em><\/strong><strong>, <\/strong><strong><em>consumption rates<\/em><\/strong><strong>, and <\/strong><strong><em>lead times<\/em><\/strong> associated with those products.&nbsp;<\/li>\n\n\n\n<li><strong>Maintain safety stock<\/strong> &ndash; Mitigate the risk of stockouts by maintaining surplus, or safety, stock as a buffer for demand.&nbsp;<\/li>\n\n\n\n<li><strong>Streamline the reordering process<\/strong> &ndash; Use automation and <a href=\"https:\/\/katanamrp.com\/best-inventory-management-software\/\" target=\"_blank\">inventory software<\/a> to buy stock once you hit the reorder point to maintain the right inventory level and meet demand.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 id=\"benefits-of-inventory-management\" class=\"wp-block-heading\">Benefits of Inventory Management<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Implementing an inventory management technique can bring about a lot of benefits, both for your workflow and your customers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Reduced time taking stock or inventory<\/li>\n\n\n\n<li>No lost sales due to out-of-stock items<\/li>\n\n\n\n<li>Access to historical sales data<\/li>\n\n\n\n<li>Faster checkouts for customers<\/li>\n\n\n\n<li>Time, money, and confidence to pursue <a href=\"https:\/\/www.neighbor.com\/storage-blog\/new-revenue-streams\/\">additional revenue streams<\/a><\/li>\n<\/ul>\n\n\n\n<h2 id=\"mastering-inventory-management-techniques\" class=\"wp-block-heading\"><strong>Mastering Inventory Management Techniques<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses can optimize their processes and reduce costs by mastering inventory control techniques such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Perpetual Inventory System<\/li>\n\n\n\n<li>Lean Manufacturing and Just In Time (JIT)<\/li>\n\n\n\n<li>ABC Analysis<\/li>\n\n\n\n<li>Vendor Managed Inventory (VMI)<\/li>\n\n\n\n<li>Barcode\/RFID Systems<\/li>\n\n\n\n<li>Economic Order Quantity<\/li>\n\n\n\n<li>Batch Tracking<\/li>\n<\/ul>\n\n\n\n<html><body><div id=\"in_post\">\n    <a href=\"https:\/\/www.neighbor.com\/host\" onclick=\"rudderanalytics.track('press editorial cta button', {location: 'first in post', version: '2.0'}, () =&gt; { console.log('track call'); });\">\r\n  <div class=\"first-in-post-cta\">\r\n    <header>\r\n      <h2 id=\"can-we-pay-you-to-store-vehicles\">Can we pay you to store vehicles?<\/h2>\r\n    <\/header>\r\n    <section>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path d=\"M26.7552 20.0573C26.2911 20.9853 26.2499 22.3578 26.2499 24.375H33.7499C33.7499 22.3577 33.7088 20.9853 33.2448 20.0573C33.0557 19.6792 32.8 19.3973 32.3888 19.1841C31.9442 18.9535 31.2108 18.75 30 18.75C28.7892 18.75 28.0558 18.9535 27.6112 19.1841C27.2 19.3973 26.9442 19.6792 26.7552 20.0573Z\" fill=\"#005EB8\"><\/path>\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M28.0777 4.32887C29.3195 3.87732 30.6805 3.87732 31.9223 4.32887L48.7973 10.4652C51.0173 11.2725 52.5 13.3777 52.5 15.7462V33.1425C52.5 33.7407 52.4058 34.3605 52.1888 34.9629C47.861 46.9738 35.9939 53.5676 32.1164 55.464C30.7986 56.1086 29.2843 56.1505 27.9278 55.5549C23.9729 53.8185 12.0728 47.6941 7.77513 34.8948C7.58399 34.3255 7.5 33.7394 7.5 33.1762V15.7481C7.5 13.3807 8.98165 11.2729 11.2027 10.4652L28.0777 4.32887ZM22.4998 24.1662L22.4999 24.375C20.4289 24.375 18.75 26.054 18.75 28.125V35.625C18.75 37.6961 20.4289 39.375 22.5 39.375H37.5C39.5711 39.375 41.25 37.6961 41.25 35.625V28.125C41.25 26.0539 39.5711 24.375 37.5 24.375L37.5 24.166C37.5016 22.4546 37.5037 20.19 36.5989 18.3802C36.0848 17.352 35.2859 16.4621 34.115 15.855C32.9776 15.2652 31.6017 15 30 15C28.3983 15 27.0224 15.2652 25.885 15.855C24.7141 16.4621 23.9152 17.352 23.4011 18.3802C22.4961 20.1901 22.4982 22.4547 22.4998 24.1662Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg><\/div>\r\n        <h3 id=\"list-your-unused-space\">List your unused space<\/h3>\r\n        <p>People are earning $1,000s per year from their garages and outdoor space.<\/p>\r\n      <\/div>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\">\r\n          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M13.125 9.375C11.0539 9.375 9.375 11.0539 9.375 13.125V46.875C9.375 48.9461 11.0539 50.625 13.125 50.625H46.875C48.9461 50.625 50.625 48.9461 50.625 46.875V13.125C50.625 11.0539 48.9461 9.375 46.875 9.375H13.125ZM28.125 16.875C28.125 15.8395 28.9645 15 30 15C31.0355 15 31.875 15.8395 31.875 16.875V20.625H35.625C36.6605 20.625 37.5 21.4645 37.5 22.5C37.5 23.5355 36.6605 24.375 35.625 24.375H26.25C25.2145 24.375 24.375 25.2145 24.375 26.25C24.375 27.2855 25.2145 28.125 26.25 28.125H33.75C36.8566 28.125 39.375 30.6434 39.375 33.75C39.375 36.8566 36.8566 39.375 33.75 39.375H31.875V43.125C31.875 44.1605 31.0355 45 30 45C28.9645 45 28.125 44.1605 28.125 43.125V39.375H22.5C21.4645 39.375 20.625 38.5355 20.625 37.5C20.625 36.4645 21.4645 35.625 22.5 35.625H33.75C34.7855 35.625 35.625 34.7855 35.625 33.75C35.625 32.7145 34.7855 31.875 33.75 31.875H26.25C23.1434 31.875 20.625 29.3566 20.625 26.25C20.625 23.1434 23.1434 20.625 26.25 20.625H28.125V16.875Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg>\r\n        <\/div>\r\n        <h3 id=\"approve-your-renters\">Approve your renters<\/h3>\r\n        <p>You're in control. Approve who rents and the hours of access.<\/p>\r\n      <\/div>\r\n      <div class=\"service-option\">\r\n        <div class=\"service-option-icon\">\r\n          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M31.2776 51.9974L31.7666 51.5417C32.0789 51.2503 32.527 50.8317 33.0706 50.3224C34.1576 49.3041 35.6276 47.9224 37.158 46.4698C40.1682 43.6127 43.5576 40.3461 44.596 39.1282C46.7163 36.6414 48.1719 33.6468 48.8127 30.4251C49.5529 26.704 49.173 22.847 47.7211 19.3418C46.2692 15.8366 43.8105 12.8407 40.6559 10.7329C37.5015 8.62514 33.7942 7.5 30.0001 7.5C26.2061 7.5 22.4973 8.62504 19.3428 10.7329C16.1882 12.8407 13.7295 15.8366 12.2776 19.3418C10.8257 22.847 10.4458 26.704 11.186 30.4251C11.8268 33.6468 13.2824 36.6414 15.4027 39.1282C16.4411 40.3462 19.831 43.6128 22.8415 46.4698C24.3721 47.9224 25.8422 49.3042 26.9294 50.3225C27.4731 50.8318 27.9212 51.2504 28.2336 51.5418L28.723 51.9979C29.4428 52.6672 30.5579 52.6668 31.2776 51.9974ZM28.723 51.9979C28.723 51.9979 28.7232 51.998 30.0001 50.625L28.723 51.9979ZM30.0001 50.625L31.2776 51.9974C31.2776 51.9974 31.2771 51.9979 30.0001 50.625ZM30 32.8125C33.6243 32.8125 36.5625 29.8744 36.5625 26.25C36.5625 22.6256 33.6243 19.6875 30 19.6875C26.3756 19.6875 23.4375 22.6256 23.4375 26.25C23.4375 29.8744 26.3756 32.8125 30 32.8125Z\" fill=\"#005EB8\"><\/path>\r\n          <\/svg>\r\n        <\/div>\r\n        <h3 id=\"get-paid-monthly\">Get paid monthly<\/h3>\r\n        <p>Sit back and collect automatic payments each month.<\/p>\r\n      <\/div>\r\n    <\/section>\r\n    <footer>\r\n      <button>Learn more about hosting <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" fill=\"none\">\r\n          <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M18.8304 5.17619L4.55227 11.6663H11.1779C11.8199 11.6663 12.3404 12.1867 12.3404 12.8288V19.4543L18.8304 5.17619ZM19.029 3.43822C20.0069 2.99374 21.0129 3.9997 20.5684 4.97757L13.0612 21.4935C12.5438 22.6316 10.8404 22.2627 10.8404 21.0124V13.1663H2.99417C1.74398 13.1663 1.37497 11.4628 2.51312 10.9455L19.029 3.43822Z\" fill=\"#EFF5F8\"><\/path>\r\n        <\/svg><\/button>\r\n    <\/footer>\r\n  <\/div>\r\n<\/a>\n  <\/div><\/body><\/html><h3 id=\"the-perpetual-inventory-system\" class=\"wp-block-heading\"><strong>The Perpetual Inventory System<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This inventory strategy is a <strong>computerized method that maintains a continuous record of inventory levels, <\/strong><strong><em>updating electronic records in real-time<\/em><\/strong><strong> <\/strong>as products are purchased and sold.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This system enhances accuracy through ongoing updates and precise inventory records, leading to improved cost flow assumptions, decreased inventory costs, and enhanced decision-making capabilities. Implementing perpetual inventory management can greatly benefit businesses in maintaining an efficient and accurate inventory process.<\/p>\n\n\n\n<h4 id=\"periodic-vs-perpetual-inventory-systems-which-is-better\" class=\"wp-block-heading\">Periodic vs. Perpetual Inventory Systems: Which is Better?<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>periodic inventory system <\/strong>is a system in which <strong>inventory records are updated at specific intervals<\/strong>, whereas the perpetual inventory system maintains a continuous and up-to-date record of the quantity and cost of each inventory item.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>perpetual inventory system is most appropriate for businesses with significant inventory volumes<\/strong> that require precise and real-time stock-level monitoring.<\/p>\n\n\n\n<h3 id=\"lean-manufacturing-and-just-in-time-jit\" class=\"wp-block-heading\"><strong>Lean Manufacturing and Just In Time (JIT)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Lean Manufacturing and <a href=\"https:\/\/www.business.org\/finance\/inventory-management\/what-is-just-in-time-inventory-management\/\" target=\"_blank\">Just In Time (JIT)<\/a> are two inventory management techniques that serve to minimize waste, enhance cash flow, increase flexibility, and optimize human resources.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, organizations may encounter various challenges when integrating Lean Manufacturing and JIT, such as heavy reliance on suppliers for punctual deliveries, employee hesitance in embracing new procedures, and the need for continuous training and development of personnel.<\/p>\n\n\n\n<h3 id=\"abc-analysis-for-inventory-prioritization\" class=\"wp-block-heading\"><strong>ABC Analysis for Inventory Prioritization<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">ABC Analysis contributes to inventory management by <strong>categorizing inventory items into three classifications<\/strong>&mdash;<em>A, B, and C<\/em>&mdash;based on their value and importance to the business. This categorization helps prioritize resources more effectively and optimizes inventory efforts by focusing on items that require more attention and allocating resources appropriately.<\/p>\n\n\n\n<h3 id=\"vendor-managed-inventory-vmi\" class=\"wp-block-heading\"><strong>Vendor Managed Inventory (VMI)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Vendor Managed Inventory (VMI) is a method of inventory management that takes some of the weight off of you as the supplier, transferring responsibility to the vendor. This method can enhance inventory accuracy and forecasting, reduce overhead, improve in-stock performance, and elevate your cash flow.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, you need to have<strong> a thorough consignment inventory agreement<\/strong> with your vendor. This formal arrangement outlines the relationship terms and allocates inventory management rights and responsibilities.&nbsp;<\/p>\n\n\n\n<h3 id=\"barcode-and-rfid-systems\" class=\"wp-block-heading\"><strong>Barcode and RFID Systems<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Using barcodes or RFID tags for inventory management is a surefire way to accurately track how much of each product you have in stock. Plus, <strong>barcoding items can speed up the checkout process<\/strong>, which in turn improves customer satisfaction.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, barcode systems offer several benefits:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Facilitate rapid access to current inventory information<\/li>\n\n\n\n<li>Enable precise tracking of inventory levels<\/li>\n\n\n\n<li>Contribute to decreased unnecessary expenditure on inventory products<\/li>\n<\/ul>\n\n\n\n<html><body><div id=\"2_in_post\">\n    <a href=\"https:\/\/www.neighbor.com\/host\" onclick=\"rudderanalytics.track('press editorial cta button', {location: 'second in post', version: '2.0'}, () =&gt; { console.log('track call'); });\">\r\n  <div class=\"second-in-post-cta\">\r\n    <section>\r\n      <div class=\"service-option\">\r\n        <h2 id=\"earn-1000s-per-year-with-your-unused-space\">Earn $1,000s per year with your unused space<\/h2>\r\n        <button>Become a Neighbor host<\/button>\r\n      <\/div>\r\n    <\/section>\r\n  <\/div>\r\n<\/a>\n  <\/div><\/body><\/html><h3 id=\"economic-order-quantity-eoq-methodology\" class=\"wp-block-heading\"><strong>Economic Order Quantity (EOQ) Methodology<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">EOQ is a calculation used to <strong>determine the most efficient order size for a company&rsquo;s inventory<\/strong>, aiming to minimize costs related to inventory, including holding costs, shortage costs, and order costs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A higher turnover ratio signifies adept inventory management and robust sales, while a lower ratio may indicate procurement challenges or slow sales, which can lead to the risks associated with excessive or insufficient stock.<\/p>\n\n\n\n<h3 id=\"batch-tracking-for-quality-control\" class=\"wp-block-heading\"><strong>Batch Tracking for Quality Control<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Batch tracking, also referred to as lot tracking, is a method employed in inventory management for the purpose of categorizing similar production characteristics. It contributes to quality control by facilitating:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Product quality assurance<\/li>\n\n\n\n<li>Regulatory compliance<\/li>\n\n\n\n<li>Expiry date tracking<\/li>\n\n\n\n<li>Recall management<\/li>\n\n\n\n<li>Maintenance of high-quality goods<\/li>\n<\/ul>\n\n\n\n<h2 id=\"best-practices-for-optimizing-inventory-control\" class=\"wp-block-heading\"><strong>Best Practices for Optimizing Inventory Control<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As you start to understand the best kind of inventory management process that works for your business, you can expand your methods for inventory control. To really fine-tune your inventory management systems, you&rsquo;ll want to adopt the following best practices.&nbsp;<\/p>\n\n\n\n<h3 id=\"leverage-inventory-management-software-solutions\" class=\"wp-block-heading\"><strong>Leverage Inventory Management Software Solutions<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Using Inventory management software facilitates real-time tracking, allowing you to focus on the day-to-day of your business. Your inventory software can help you determine proper safety stock levels and keep the reordering process free of hiccups.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Key features to take into account when selecting inventory software include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Real-time inventory tracking<\/li>\n\n\n\n<li>Barcoding and scanning capabilities<\/li>\n\n\n\n<li>Advanced reporting and analytics<\/li>\n\n\n\n<li>Integration with other systems<\/li>\n\n\n\n<li>Mobile accessibility<\/li>\n\n\n\n<li>Centralized inventory management<\/li>\n\n\n\n<li>Robust data security and backup protocols&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">To choose the right inventory management system for your business, ask yourself the questions in <a href=\"https:\/\/www.cin7.com\/blog\/7-questions-to-ask-when-choosing-an-inventory-management-system\/\" target=\"_blank\">this article.<\/a>&nbsp;<\/p>\n\n\n\n<h4 id=\"mobile-inventory-management\" class=\"wp-block-heading\">Mobile Inventory Management<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.neighbor.com\/storage-blog\/popular-types-of-small-business\/\">For small businesses<\/a>, mobile inventory management can be a game-changer. These softwares use smartphones and other handheld devices to give you flexibility in your <a href=\"https:\/\/www.neighbor.com\/storage-blog\/7-warehouse-storage-systems\/\">storefront or warehouse<\/a>, while also keeping your finger on the pulse of your business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some of the top mobile inventory management apps or software include TradeGecko, <a href=\"https:\/\/asapsystems.com\/\" target=\"_blank\">ASAP Systems<\/a>, QuickBooks Commerce, and <a href=\"https:\/\/squareup.com\/help\/us\/en\/article\/5776-get-started-with-square-for-retail\" target=\"_blank\">Square for Retail.<\/a><\/p>\n\n\n\n<h3 id=\"synchronizing-with-supply-chain-partners\" class=\"wp-block-heading\"><strong>Synchronizing with Supply Chain Partners<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If reducing lead times and decreasing occurrences of stockouts is your objective, you&rsquo;ll need to align production schedules with customer demands,&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Aligning inventory control with supply chain partners can optimize inventory levels, mitigate stockouts, and decrease carrying costs related to surplus inventory, ultimately leading to a reduction in storage costs.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Working with suppliers is key if you&rsquo;re using raw materials for production, as the lack of supplies means a lack of product, which can really stall your business.&nbsp;<\/p>\n\n\n\n<h3 id=\"re-evaluate-your-inventory-policies\" class=\"wp-block-heading\"><strong>Re-evaluate Your Inventory Policies<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">As the market changes, so too will the demand for your products. One month you might require a massive safety stock of a popular item, and by the next month, the demand has died out. To make sure your inventory system is running smoothly, <a href=\"https:\/\/www.neighbor.com\/storage-blog\/what-to-do-when-business-is-slow\/\">always re-evaluate and adjust<\/a> your inventory policies to match customer demand. Remaining agile is key for effective inventory management.&nbsp;<\/p>\n\n\n\n<h3 id=\"proper-inventory-storage\" class=\"wp-block-heading\"><strong>Proper Inventory Storage<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.neighbor.com\/storage-blog\/inventory-storage\/\">Effective inventory storage<\/a> necessitates <strong>ample storage space<\/strong> and the <strong>appropriate working space<\/strong> for staff.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An effectively planned inventory storage layout has the potential to minimize transportation costs, improve order-picking accuracy, and ultimately boost productivity for the organization.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Choosing the right storage solution for your business will greatly impact the efficiency of your inventory practices.&nbsp;<\/p>\n\n\n\n<h2 id=\"improve-inventory-management-efficiency-with-proper-storage\" class=\"wp-block-heading\"><strong>Improve Inventory Management Efficiency with Proper Storage<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Whether you&rsquo;re a small brick-and-mortar business or a mid-sized e-commerce storefront, it&rsquo;s important to choose the right inventory management system for your stock. With the proper system in place, you can reduce inventory costs, ensure a faster workflow, and achieve higher profits.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A key factor of proper inventory management is proper storage for your products. The success of your strategy depends on having safe stock areas, good illumination, and sufficient space for all the inventory.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For many small business owners, their home (or the storefront itself) doubles as an inventory storage space&ndash;<em>which isn&rsquo;t always the most efficient method<\/em>. <strong>If you lack the proper space for all your inventory, consider renting a new warehouse or a suitable storage unit. <\/strong>There are even budget-friendly options available, such as the <strong>local storage units available on <a href=\"https:\/\/www.neighbor.com\/self-storage-near-me\">Neighbor&rsquo;s peer-to-peer storage marketplace<\/a>. <\/strong>These locations are safe, clean, and accessible, so you can focus on growing your business, not worrying about where you&rsquo;ll keep your inventory.&nbsp;<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"Is your small business filled to the gills with inventory? Or is it always running out of your&hellip;\n","protected":false},"author":38,"featured_media":12422,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[205],"tags":[],"class_list":["post-12419","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-operators","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>7 Inventory Control Techniques For Your Business\u00a0 - Neighbor Blog<\/title>\n<meta name=\"description\" content=\"Check out these 7 inventory control techniques Inventory that can boost sales, help you meet customer demand, and reduce your stress levels.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"7 Inventory Control Techniques For Your Business\u00a0 - Neighbor Blog\" \/>\n<meta property=\"og:description\" content=\"Check out these 7 inventory control techniques Inventory that can boost sales, help you meet customer demand, and reduce your stress levels.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/\" \/>\n<meta property=\"og:site_name\" content=\"Neighbor Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-31T22:49:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-31T20:50:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.neighbor.com\/storage-blog\/wp-content\/uploads\/2024\/01\/Inventory-storage-techniques-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1335\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Isaac Payne\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Isaac Payne\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/\",\"url\":\"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/\",\"name\":\"7 Inventory Control Techniques For Your Business\u00a0 - Neighbor Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/#website\"},\"datePublished\":\"2024-01-31T22:49:00+00:00\",\"dateModified\":\"2024-01-31T20:50:03+00:00\",\"author\":{\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/#\/schema\/person\/8dae4a492280110e57eeae8f046116d2\"},\"description\":\"Check out these 7 inventory control techniques Inventory that can boost sales, help you meet customer demand, and reduce your stress levels.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.neighbor.com\/storage-blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"7 Inventory Control Techniques For Your Business\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/#website\",\"url\":\"https:\/\/www.neighbor.com\/storage-blog\/\",\"name\":\"Neighbor Blog\",\"description\":\"Official Blog of Neighbor.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.neighbor.com\/storage-blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/#\/schema\/person\/8dae4a492280110e57eeae8f046116d2\",\"name\":\"Isaac Payne\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.neighbor.com\/storage-blog\/wp-content\/uploads\/2023\/12\/cropped-Freelance-Editor-Headshot-Isaac-96x96.jpg\",\"contentUrl\":\"https:\/\/www.neighbor.com\/storage-blog\/wp-content\/uploads\/2023\/12\/cropped-Freelance-Editor-Headshot-Isaac-96x96.jpg\",\"caption\":\"Isaac Payne\"},\"description\":\"Isaac has four years of experience writing and editing content in a wide range of niches, including survival gear, gardening, gambling, winemaking, science fiction, and many more. He is the happiest when he\u2019s learning new things and writing about them.\",\"url\":\"https:\/\/www.neighbor.com\/storage-blog\/author\/isaacpayne\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"7 Inventory Control Techniques For Your Business\u00a0 - Neighbor Blog","description":"Check out these 7 inventory control techniques Inventory that can boost sales, help you meet customer demand, and reduce your stress levels.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/","og_locale":"en_US","og_type":"article","og_title":"7 Inventory Control Techniques For Your Business\u00a0 - Neighbor Blog","og_description":"Check out these 7 inventory control techniques Inventory that can boost sales, help you meet customer demand, and reduce your stress levels.","og_url":"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/","og_site_name":"Neighbor Blog","article_published_time":"2024-01-31T22:49:00+00:00","article_modified_time":"2024-01-31T20:50:03+00:00","og_image":[{"width":2000,"height":1335,"url":"https:\/\/www.neighbor.com\/storage-blog\/wp-content\/uploads\/2024\/01\/Inventory-storage-techniques-.jpg","type":"image\/jpeg"}],"author":"Isaac Payne","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Isaac Payne","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/","url":"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/","name":"7 Inventory Control Techniques For Your Business\u00a0 - Neighbor Blog","isPartOf":{"@id":"https:\/\/www.neighbor.com\/storage-blog\/#website"},"datePublished":"2024-01-31T22:49:00+00:00","dateModified":"2024-01-31T20:50:03+00:00","author":{"@id":"https:\/\/www.neighbor.com\/storage-blog\/#\/schema\/person\/8dae4a492280110e57eeae8f046116d2"},"description":"Check out these 7 inventory control techniques Inventory that can boost sales, help you meet customer demand, and reduce your stress levels.","breadcrumb":{"@id":"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.neighbor.com\/storage-blog\/inventory-control-techniques\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.neighbor.com\/storage-blog\/"},{"@type":"ListItem","position":2,"name":"7 Inventory Control Techniques For Your Business\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/www.neighbor.com\/storage-blog\/#website","url":"https:\/\/www.neighbor.com\/storage-blog\/","name":"Neighbor Blog","description":"Official Blog of Neighbor.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.neighbor.com\/storage-blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.neighbor.com\/storage-blog\/#\/schema\/person\/8dae4a492280110e57eeae8f046116d2","name":"Isaac Payne","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.neighbor.com\/storage-blog\/#\/schema\/person\/image\/","url":"https:\/\/www.neighbor.com\/storage-blog\/wp-content\/uploads\/2023\/12\/cropped-Freelance-Editor-Headshot-Isaac-96x96.jpg","contentUrl":"https:\/\/www.neighbor.com\/storage-blog\/wp-content\/uploads\/2023\/12\/cropped-Freelance-Editor-Headshot-Isaac-96x96.jpg","caption":"Isaac Payne"},"description":"Isaac has four years of experience writing and editing content in a wide range of niches, including survival gear, gardening, gambling, winemaking, science fiction, and many more. He is the happiest when he\u2019s learning new things and writing about them.","url":"https:\/\/www.neighbor.com\/storage-blog\/author\/isaacpayne\/"}]}},"_links":{"self":[{"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/posts\/12419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/comments?post=12419"}],"version-history":[{"count":1,"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/posts\/12419\/revisions"}],"predecessor-version":[{"id":12423,"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/posts\/12419\/revisions\/12423"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/media\/12422"}],"wp:attachment":[{"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/media?parent=12419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/categories?post=12419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.neighbor.com\/storage-blog\/wp-json\/wp\/v2\/tags?post=12419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}