Small businesses don’t always have the same resources as larger ones when it comes to organizing inventory. Fortunately, plenty of creative inventory hacks can be implemented for virtually no investment. From utilizing hardware you already own to scan barcodes to purchasing pre-owned shelving and other stockroom equipment, here are six of our favorite small business-ready tips and tricks for organizing your inventory.
1. Create your own barcodes and QR codes
It’s no secret that, at Sortly, we are big believers in practicing perpetual inventory. Our preferred way to track inventory is on the spot, and exactly when an item is added, relocated, or consumed. Of course, without the help of barcodes and QR codes, it’s virtually impossible to track inventory this way.
That’s where creating your own barcodes and QR codes comes in. Fortunately, making easy-to-scan codes for all of your inventory is simple and inexpensive. Sortly allows customers to create and customize barcodes and QR codes directly within each inventoried item’s profile.
Additionally, these codes can be printed onto everyday label paper using regular printers your business already owns. Affix them to your stock, and they’re ready to scan just like any barcode or QR code provided by the manufacturer.
This easy, comprehensive guide will help you:
Free Ebook: The Complete Guide to Barcoding Your Inventory
2. Utilize hardware you’ve already paid for
As mentioned above, there’s no need to invest in special label paper or expensive printers to create your own barcode and QR code labels. Chances are, the materials you need to do this are already in your office. And that’s only the beginning of utilizing hardware you already have on hand to improve inventory management.
Sortly allows its customers to scan barcodes and QR codes using various devices, most notably smartphones and tablets. Using the Sortly app, a phone or tablet’s camera automatically becomes a built-in barcode scanner. There is no need to invest in external scanners, which can be expensive, bulky, and an additional asset to maintain.
That said, if your business has already purchased or prefers external barcode scanners, those can be synced with Sortly’s inventory app.
3. Create bundles and kits for inventory
This next tip is about using resources more intelligently to make several facets of inventory management more effortless. When you bundle or kit inventory, you are literally “bundling” a collection of items and tracking them as a single unit.
For example, a carpenter or construction company may decide to track 20-plus items as a single “toolbox.” This reduces the number of items that need to be checked in and out when loading a truck or heading to a job site.
That said, for bundling and kidding strategies to be successful, small businesses must commit to keeping such kits and bundles intact and entirely organized. Occasional audits can help ensure no items “walk away” from their bundles, as can a standard operating procedure that outlines how to keep bundles organized and well-stocked.
4. Purchase previously owned storage equipment
A new and effective inventory management strategy often begins with physically reorganizing storage space. However, a full-on reorganization of even the smallest of warehouses and commissaries can cost significant money. To reduce these costs, many small businesses prefer to purchase storage equipment that has been used before.
Since these shelves, bins, and more are going to experience wear and tear anyway, buying them “a little scuffed up” often makes no difference in the long run, and frees up cash for a small business’s other needs.
5. Lean on low stock alerts
Customized low stock alerts, which can give you a perfectly timed heads-up when certain items’ inventory levels dwindle too low, are another excellent hack for small businesses.
This is partly because many small businesses do not have the capital to keep tons of inventory on hand. Such companies tend to practice air-tight inventory control, which is great for profits—until inventory runs out.
By setting low stock alerts, one of Sortly’s most popular features, it’s much easier to place just-right orders confidently. After all, should inventory fall unexpectedly low, you’ll receive a customized reminder well before digging into your safety stock.
6. Customize organization to save time
Every company operates a little differently, so the way each business handles inventory varies as well. The best inventory management strategies combine proven and universal best practices with carefully tweaked and considered customizations that reflect the individual realities of a business’s day-to-day needs.
While the bundles and kits mentioned in tip #3 certainly fall under this category, that’s just one of many ways a business can customize its inventory processes and organization strategies. Another example might be creating intuitive storage strategies where the highest-turnover inventory is placed at eye level. A third might be implementing FIFO—also known as first in, first out. This is especially helpful for businesses that deal with inventory that expires quickly, such as restaurants and medical practices.
Whatever inventory hacks your small business decides to implement, don’t be afraid to get creative and tweak these processes over time to better reflect your constantly changing business needs.
About Sortly
Sortly is an inventory management solution that helps you track, manage, and organize your inventory from any device, in any location. We’re an easy-to-use inventory software that’s perfect for large or small businesses. Sortly builds inventory tracking seamlessly into your workday so you can save time and money, satisfy your customers, and help your business succeed.
With Sortly, you can track inventory, supplies, parts, tools, assets like equipment and machinery, and anything else that matters to your business. It comes equipped with smart features like barcoding & QR coding, low stock alerts, customizable folders, data-rich reporting, and much more. Best of all, you can update inventory right from your smartphone, whether you’re on the job, in the warehouse, or on the go.
Whether you’re just getting started with inventory management or you’re an expert looking for a more efficient solution, we can transform how your company manages inventory—so you can focus on building your business. That’s why over 15,000 businesses globally trust us as their inventory management solution.
Start your two-week free trial of Sortly today.
