inventory

Tom_31

I do agree with everything said about inventory, but... If you take longer on a job or must make several trips to a job site this will expend money that will never be recovered in the form of labor and fuel and etc.. There is a fine line as to how much inventory to handle and when it hurts cash flow. I do know inventory can really make your year end bottom line look bleak! However, inventory $ CAN be recovered time and labor can't. It may often take as much time to manage an inventory as it can to make sure the right materials are on the job site without costing time.

mike from pa.

starting an inventory

Hey guys. I am trying to get control of my small plumbing and heating company's inventory. I was wondering what kinds of computer programs that you guys have found to be useful and easy to use. Is there a upc scanner type that is available that is geared toward the trades? Any other type of programs available? Thanks!

Bill Nye_2

Inventory

Talk to your accountant. Imventory can be a good thing and a bad thing. I learned the hard way, every time I thought I was getting a "deal" on something it sat on the shelf for months and cost me money.

Now I would rather let it sit on my suppliers shelf and buy it as needed. I am fortunate, I am with in a reasonable distance of several good supply houses.

Mad Dog_2

Been there too, Bill

Since I started in this trade 20 years ago, I have been stockpiling materials, new and used like Mad Squirrel that's in a rush to stock up for an arctic winter. First, I took over my mom's garage, then I filled my Barn, and even had stuff at my inlaws. I would buy up stuff from retiring plumbers (albeit it cheap but still), and take stuff that was free. Had tons of great stuff AND it was in bins and that, but stuff wasn't segregated that well. I'd have the same stuff in different spots. The last few years however, I have made a concious effort to drain down my stock. I use Wintac software and they have a good inventory program. Its at the point now, I buy no more than one of something unless I will use it again that week. The supplier I use thought I was going elsewhere because our bills dropped that much. I'm still not where I want to be...but I'm on my way. Mad Dog

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Dale

Where to start

I would go to the library or book store and get some books on cost accounting and focus on inventory cost. I remember how much an eye opener that was for me. By reading up a bit you will find out the jargon and see what's in the computer programs you are considering. Cash is king. Problems with cash flow are huge in most small businesses and inventory eats up cash, and what is your time worth? Handling things take time which is money, storing things take time and money.