Business Inventory - How much is Enough?

[Dagm1]

This is actually the type of circumstance that requires a budget plan, along with budget plan you will certainly understand just the amount of you wish to invest in your stock, you will certainly likewise understand exactly how you intend on costs it. Budgeting is actually an important device in choice creating.

 

[Ruth]

It totally depends on the type of business you want to go into and how large scale you want to start. And also it depends on the shop you're renting and their environment. It's better you ask people in the line of business you want to go into.

 

[Filicit]

Before starting a business, you should have conducted a market research to give you rough estimate on how to produce and how much but if that is not the case then you can still get that information from your first sales and adjust accordingly

 

[tyrim88]

Most business persons who are just going into a new venture normally experience that period of exitment,not really knowing what the needs and prefrence of the customers are,and this will leads to over stock inventory.The process should just be followed and then focus on customers demands for your inventory.

 

[Kunkun]

There are no manuals for how much one could try to out down as payment but there would be a lot to consider too as it would depend on the type of business that's been done too but the way

 

[Alexandoy]

Most business persons who are just going into a new venture normally experience that period of exitment,not really knowing what the needs and prefrence of the customers are,and this will leads to over stock inventory.The process should just be followed and then focus on customers demands for your inventory.

Usually a new business should have ample stocks of supply. It is not good for a business to be out of stock particularly of a popular item. But in a week's time you will learn the volume of inventory that you need to maintain in order to have continuous supply of the products in your shelves.

 

[Justin]

How much inventory is enough depends on a lot of factors like how many products are being sold, how much is the cost price of the product that you are selling, etc. If the product cost is very high, you cannot stock a lot of products.

 

[Kelly5]

You alone i surpose will and should know how much you think or feel is enough and how far you can go in the business based in your capital used for the business

 

[Abigael]

There is no specific amount of inventory that one should have in his/her business. It all boils down to your duty to taste the waters and see what will work best for you. So start experimenting till you become stable on how much you need.

 

[jeff87]

When you are starting the business, you are not aware of the inventory. You are speculating the amount that you want to sell. You are going to be testing the waters initially instead of overspending on the inventory. It is hard to gauge how much is enough and how long you can keep the stock.

So on that note, I want to know how much inventory we should keep in our business?

My style with inventory will be daily, weekly, monthly and quarterly inventories. It's good to know if the business is doing very well or not.

 

[tyrim88]

Usually a new business should have ample stocks of supply. It is not good for a business to be out of stock particularly of a popular item. But in a week's time you will learn the volume of inventory that you need to maintain in order to have continuous supply of the products in your shelves.

That is very true,having stoch ahead os schedule is a function of how the dynamics of the market normally turns out to be.I remember when we started our business,we just keep restocking during a particular period,and when the price eventually go down,the product price came down and we ran into loss.

 

[Kubiat-Abasi]

It's all dependent on the business type. Also, it is a good foresight that you're budgeting because this invaluable tool will help you in evaluation and decision making.

 

[Ghost1]

It really depends on the field you are on, the capital you will need to start a car selling business will be different for a bottle water business. In any case, it's always advisable to start small and start with whatever you have.

Spot on. There are businesses that takes a while before the next sales comes in example is that car business. One must not have to speculate just start small

 

[Immilash]

Business inventory is a good idea of having a successful business,but I can say it is dependent on the kind of part you want to play ,if it is a huge part you definitely need enough income .

 

[Ralphjoe]

How much you need depends on the kinds of business u want to go into.

Realizing your business is the best option to choose First.

I think for a business to maintain it profitability it has two have all his stock in place in fact it catalogue must be always full so that whenever customers comes around they will not be asking for an item and you be telling them that it is not available that you can get it maybe next week or next month as this can go a long way in discouraging most customers from ever returning back to your business.

 

[Essy]

Your inventory is the stock that yiu produced or the products that yiu have in hand that yiu wish to sell so I think the right word is expected revenue that's money you are expecting from sales of revenue.

When you are starting the business, you are not aware of the inventory. You are speculating the amount that you want to sell. You are going to be testing the waters initially instead of overspending on the inventory. It is hard to gauge how much is enough and how long you can keep the stock.

So on that note, I want to know how much inventory we should keep in our business?

 

[tyrim88]

How much you need depends on the kinds of business u want to go into.

Realizing your business is the best option to choose First.

When it comes to inventory,it is not just good to start stock piling inventory,you really need to understand the business environment very well before embacking on such a drive.

 

[Sotherefore]

You can know the actual amount that will be needed to start up the type of business you are thinking of going into when you make a rough estimate plan of what you will need in starting up the business ,from there you will have a clue of how much it will be.

 

[Ralphjoe]

It all depends on the type of business you are about to invest in and also how you want your business to look like. You can predict a specific amount

A business inventory should be as the type that will encompass everything that is needed in that business impact a business should have a software that would be tracking the industry in its products so that immediately this product are going low in quantity then they can be reordered.

 

[Heatman]

When you are starting the business, you are not aware of the inventory. You are speculating the amount that you want to sell. You are going to be testing the waters initially instead of overspending on the inventory. It is hard to gauge how much is enough and how long you can keep the stock.

So on that note, I want to know how much inventory we should keep in our business?

It's actually something that is very important to make all the necessary research about the new business you want to start before going into it. Being half prepared is the worst thing that can happen to you in business.