Up Your Cash Flow / Goldstein 91-93

95 Take an accurate inventory

• Move identical goods to the same location
• Place inventory in order
• Make all items readily identifiable.
• Clear aisles and passageways
• Segregate scrap and worthless items.

 

If your business is a manufacturing entity, schedule production so that work-in-process is keep to a minimum. This will reduce the time and effort required to count and price those items.

 

A proper cut-off involves identifying the arrival and shipment dates of your inventory.

Good received after the cut-off date should be physically segregated and counted separately.