Inventory management is critical to any retail store. This is doubly true for computer and electronics shops, where you don’t just track full products but individual parts and repair tools.
Without taking stock of your products, how do you know what’s available for sale or which products are in high demand? Will your sales team feel confident offering products and repair services to customers?
On top of that, inventory management is more than just counting products: It’s about understanding your target market and providing them with products that are in demand, always.
In this blog, we’ll share computer inventory management tips and discuss top tools that automate the process and make your job easier.
Let’s get started!
We don’t have to tell you that taking inventory is good for business, but we do have to ask: are you confident in the computer inventory management tool you’re using? Knowing what you have in stock on demand will help your sales team offer products and services with confidence — no more “maybes.”
Without proper computer inventory management, your electronics shop could face consequences such as stockouts, overstock, dissatisfied customers, disgruntled employees, and decreased business.
Below, we’ll share five tips and three tools to help you master computer inventory management.
We’ve already listed a few downfalls of not having a proper computer inventory management system, but what about the perks?
When your inventory is accurate, you can expect:
Here are a few tips for getting started with computer inventory management.
Inventory audits are crucial for maintaining inventory accuracy, identifying causes of shrinkage, and ensuring you have the stock you need when demand is high.
Related Read: 3 Best Inventory Counting Methods for Small Businesses
Audits can be time-consuming, and they require a lot of manual labor, but they’ll also give you a better look at how your business is performing. Physical inventory counts are one of the most popular types of audits, but there’s also ABC analysis, cycle counting, and cutoff analysis.
Another tip is to implement a barcode inventory management system.
A barcode is a visual representation of data that gets scanned to give you product information. Inside each barcode is a unique code that tracks products, and it's made up of lines or other shapes in a specific sequence.
Radio Frequency-Identification technology (RFID) involves attaching a tag to a product that identifies and tracks the product using radio waves. The tags can carry up to 2,000 bytes of data.
Whether you use barcodes or RFID, you’ll have a better understanding of your computer inventory.
Tracking serialized and IMEI inventory is also crucial for cell phone sellers and repair shops. High-value electronics like smartphones are assigned unique IMEI numbers, allowing businesses to track individual items from manufacturing to sale. This level of detail is not just a best practice but often a legal requirement for electronic sellers.
Efficient serialized inventory management enables businesses to quickly react to customer demand, track repairs, and handle warranty claims effectively. It also helps in maintaining accurate stock levels, preventing shrinkage, and ensuring compliance with industry regulations.
A reorder point is the inventory level at which you need to replenish stock of a specific item. If you wait too long, you might run out of stock, which could upset customers and leave orders in limbo. Use these numbers as a threshold or trigger point for new orders.
Use this formula to calculate:
Reorder point = (daily sales velocity) × (lead time in days) + safety stock
To your staff, counting inventory is just busy work unless you explain the significance. Using the points above, provide staff training for stock counts and explain why it matters (hello, job security!).
On the flip side, ask your staff what would make the inventory process easier and see what changes you can implement.
If you’re ready to make your life a whole lot easier, invest in inventory management software that automates nearly everything mentioned above. Good inventory management software will help you keep track of your products and alert you when reorder points are reached.
Exceptional inventory management software will go further with these features:
RepairShopr is ideal for small repair shops specializing in computers and cell phones. It offers a robust ticketing system, tools for repair management, and additional features such as email marketing and seamless integration with accounting.
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With RepairDesk, users can personalize intake forms, schedule appointments, track repair ticket progress, and seamlessly manage sales. RepairDesk also allows for mail-in repair services, simplifying repairs for customers and expanding business reach.
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Packages start at $119/month
CellSmart POS is a comprehensive POS system designed to simplify generating custom repair quotes, monitoring repair progress, and sending real-time updates to customers via text. It is tailored specifically for mobile repair and computer shops and will help improve inventory management.
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Each solution is tailored to your business needs. Use our build and price tool to get a custom quote.
The tool you choose will depend on your business needs. To help you decide, create a list of must-have and nice-to-have features. See which one checks the most boxes, and schedule a demo today!
Implementing a computer inventory management system will ensure you know what’s in stock at all times — including all the little bits of hardware. Access to this information at any time will empower your sales team and lead to increased profits and satisfied customers.
Performing audits, training your staff, and establishing reorder points are a great way to keep track of inventory, but automating everything with an all-in-one POS solution like CellSmart POS will save time, money, and frustration.
Our solution is custom-built, so you get all the features you need without paying for costly extras. Schedule a demo today to see how CellSmart POS can help streamline your inventory management.
