Is Inventory necessary in business?

[Hate2Wait]

Without any Inventory, we cannot do well in business as who knows we may get bigger order and then it will be impossible to manage

 

[Starmix]

Without any Inventory, we cannot do well in business as who knows we may get bigger order and then it will be impossible to manage

That is right, it is a preparation for the next displays of products and know which products sold out fast.

 

[Hate2Wait]

When we are experienced we know which product has more demand and which has less so we can plan accordingly

 

[Bisolami]

To do an inventory means to find out how much you gaining a week or in a month. You can also come up with a remedy for the profit that is going down.

You are right about this but the major thing is that your product need to always be on sales which means that it's always been to sell fast and you have a lot of customers

 

[AmazingJob]

When we are experienced we know which product has more demand and which has less so we can plan accordingly

That is important than knowing the product. Of course, it is important too to know what product we have but is it necessary that inventory is given importance to know we have enough supply or to know what needs to be dispatched first; when we know our inventory it is easy to sort things out.

 

[Starmix]

That is important than knowing the product. Of course, it is important too to know what product we have but is it necessary that inventory is given importance to know we have enough supply or to know what needs to be dispatched first; when we know our inventory it is easy to sort things out.

That's one objective of inventory. It's a must in business to have a look of what's needed or lacking. Know which product is weak or strong for buyers.

 

[hastral45]

This inventory is what is called stock taking in layman language. Inventory is needed as it portrays the state of the business either it is run on profit or loss.

 

[Starmix]

Yes, you're so right. It guides the business owners.

 

[Niyi Briggs]

Inventory is very important. It helps you to know the physical assets in the business. For a retailer, inventory can help to discover soon to expire goods.

 

[Starmix]

Inventory protects one's business. It serves as a monitoring way of expenditures and net profit in a week or month. In my milk tea business, I do inventory every week. I will know from it what I need, what to improve want customers to expect more.

 

[cherry123]

Business without accountability and sense of creativity is bound to be bankruptcy. A business owner must always take a proper evaluation of the business often to know if the business is growing or dwindling

Your last sentence is very important in business. You need to know that your business is making money from inventory or else you run it down

 

[eldavis]

I believe this is also important for every business to have, it creates a from of orderliness for the business and also prevents mistakes from taking place in terms of pricing.

 

[Chibson]

inventory is very important and necessary in any business venture. This is because it will help you to keep track record of your profit and sales as well.

 

[Bisolami]

It helps a business person to do things in an orderly manner. It is good

 

[Heatman]

That's what my cousin is doing. She's selling volume of egg trays.

A lot of people eat eggs everyday and I believe that is why the sales of egg keeps increasing on daily basis and those that are into it are making good profit.

 

[Stardom22]

For me inventory is the heart of the business. It's through the inventory that the business gets to grow to its wonder's. This however should be treated with great care in the business.

 

[IB D]

It is when you regularly do inventory that you would get to see goods that are about to expire and find a way to dispose them off.

 

[Stardom22]

I think inventory is a very crucial thing for the business. It's therefore according to me a must have thing in the business. It is through it that we manage the incoming, and what we have in store for the business.

 

[uptrendfinancialsignal]

Creating inventory is necessary for business because that is part of the business features.

 

[Starmix]

Yes, they should keep the minimum inventory of finished as well as raw materials to run the operations nicely. There are lots of theories which are used to calculate how much one needs to keep in a manufacturing unit.

That is so right, how could we know about our stocks if almost drained or consumed? Through it, we will also know the current situation of our business and which needs support.