How to: Manage InventoryIf you don't know what's in stock, there could be trouble in store.
ByJan Norman•
Opinions expressed by Entrepreneur contributors are their own.
Ruth Kelsey's method of tracking inventory for her giftbasket business, Brittany's Balloons and Gifts, used to beinformal--to say the least. "I was going by sight,"recalls the Lithonia, Georgia, entrepreneur. "Basically, Istored everything in my den and garage, and every so often I wouldcount it all."
As Kelsey's business grew and expanded to include partydecorations, her inventory system became inadequate. "I wouldthink I had 20 baskets left, then I'd go to fill several ordersand find I had only 14," she says. "That would put me ina pinch, especially in my busy seasons." Kelsey is in theprocess of computerizing her inventory, which she expects to giveher a more accurate method of tracking.
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