Expert Accounting’s Turnkey Outsourcing Service Ensures the Right Amount of Inventory
Effectively managing your inventory is one of the biggest challenges facing today’s business owners. When you outsource your accounting to Expert Accounting, their experts will see patterns in your inventory and help you streamline it to maximize sales and increase operational efficiencies.
Expert Accounting has a proven record of successful inventory management, setting it apart from other outsourced accounting services. When you choose Expert Accounting, your business will benefit from a full inventory management program that ensures optimal inventory levels are consistently maintained.
Your inventory may well be your largest asset
Effective management of inventory is essential to the profitability of your business. Unmanaged it can have a negative effect on the performance of key areas of your operation including cash flow, ability to take advantage of early payment discounts and warehousing costs. Analytical inventory management is vital to the growth and long-term profitability of your business.
The advantage of outsourcing to Expert Accounting is the objective, industry-specific advice you will get about your inventory. Their many years of experience in the home furnishing, bedding and appliance retail industry gives them unique insight into how inventory should be managed and how it can save costs.
Your accounting expert can review the following with you:
- Identifying your best and worst selling items
- How controlling and monitoring your inventory can increase cash flow and increase profitability
- What inventory levels you should be carrying based on your sales
- Explain how this process will be specifically suited to your business
Businesses often carry too much inventory
Improper inventory levels, either too little or too much, can lead to lost sales, decreased margins, and missed profit opportunities.
In many cases businesses are guilty of carrying excessive amounts of inventory. Expert Accounting will do an analysis of your inventory by category, comparing your store’s inventory performance to industry key performance indicators (KPIs) with the goal of establishing, reaching, and maintaining optimal inventory levels.
Reducing inventory to conform to industry KPI’s will have a positive effect on other key areas of your business such as: Increased cash flow, lower bank interest and carrying charges, increased GMROIs (Gross Margin Return on Investment), smaller warehouse requirements, less inventory damage, and increased profitability.
Optimal inventory levels are essential in today’s retail environment
Improved operational performance can be achieved through the maintenance of proper inventory levels. Reduction of excessive inventory often results in increased cash flow, all the while adding to your business’s profitability.
Expert Accounting has an industry-proven program that promotes inventory reduction by category. With this process over a set period of time, inventory levels are lowered until optimal levels are reached.
Let an expert manage your inventory.
As your outsourced accounting partner, Expert Accounting will help you to choose an inventory strategy that works to your benefit. You will get guidance with the management of your inventory, helping you to order more efficiently while increasing your cash flow and profitability.
Effective inventory management requires skill and time that you may not have. Expert Accounting will help you with your inventory management with the goal of increasing sales and revenues.
To find out more about Expert Accounting, download our whitepaper.