Online Store - How to Manage Your Inventory

What You Will Learn?

• If you are a small retail business and have questions about how to manage your inventory effectively, you are in the right place. This class will teach you step-by-step how to take control of your inventory..
• You shouldn’t have some advantage of business knowledge or technical skills. This class is suitable for beginners, as well as for people who have some experience in this field but want to expand their competency..
• In this class, I will be talking about the “Open-to-buy” system and its importance when in a retail business. Then I will begin with easy-to-follow explanations of the the foundations of “Open-to-buy” system. I will reveal to you the main simple formulas that you can use to track and manage your inventory properly..
• Once I cover the theory part, I will go deeper and give you some examples of how to apply this inventory management system in real life..
• The next step will be to integrate the “Open-to-buy” system into Google sheets and create a calculator, which will help you to plan your inventory purchases..
• Of course, this class will be complete with a small project that will help you to put into action everything you’ve learned in the class..
• When you complete the class, you will know how to calculate the most appropriate quantity inventory for your small retail business and how to integrate this knowledge into Google sheets. This way, you will be able to create a simple and very effective inventory management system for your small retail business that works accurately and is free. It will inform you how much inventory you need to purchase to satisfy clients’ needs and generate the profit you’re planning. By having this information, you will make the right business decisions and your small retail business will go to the next level..