Do you keep good track of inventory in your business?

Keeping track of inventory and business assets is important for maintaining profitability. Insist on regular and accurate counts, and don't allow sloppy storage or haphazard inventory control procedures.

If shortages occur, resolve to find the reason; don't just write off the difference. Spoilage and shrinkage has a way of growing and affecting the bottom line.

Devise and maintain good systems to deter shoplifting. Remember, every dollar lost to theft or inventory shrinkage eats up the profit of ten dollars' worth of sales. Make it clear to your employees that taking stock or supplies home without paying is the same -as stealing and won't be tolerated.

Keep track of your inventory and assets, account for every transaction, and watch your profitability grow. He who fends thefigtree will eat its fruit; and he who cares for his master will be honored (Proverbs 2 7:18).

Scripture: Everything was numbered and weighed, and all the weight was recorded at that time (Ezra 8:34).

 

 

Outline for developing a business plan