Augusta
VIP Contributor
inventory is about the quantities of products or items at a business at a given period.The inventory of a business at a given time depends solely on the demands at that. This is to say high demands bring high inventory while low demands brings low inventory.
So a business needs to be careful of their inventory to avoid waste , expiration of the stock and of course losses.So what can be done to minimise this
Buy maximum quantities
The business need to look at the level of demand and buy only quantities that can be sold within a period of time.
check the expiration date
Always check the expiration date of your products bought. Don't buy products that the expiration date is less than 6 months to avod early spoilage of your items bought
sell at discounted price
if your inventories are near the expiry date then you would need to give discounted price to make people quickly buy them of
So a business needs to be careful of their inventory to avoid waste , expiration of the stock and of course losses.So what can be done to minimise this
Buy maximum quantities
The business need to look at the level of demand and buy only quantities that can be sold within a period of time.
check the expiration date
Always check the expiration date of your products bought. Don't buy products that the expiration date is less than 6 months to avod early spoilage of your items bought
sell at discounted price
if your inventories are near the expiry date then you would need to give discounted price to make people quickly buy them of