Erprev Expert

Happy New Year🎆
Welcome to 2024

Effective inventory management is not an easy task, especially now that staff members are tempted to steal on a daily basis.
As a business owner, you have to be on top of your inventory at all times.
You must do everything within your power to ensure that you maintain an accurate record of your product and raw material inventories.
USE CORRECT COST AND SELLING PRICES: This will let you know your stock value and estimated sales value. It will also help you calculate your profit margin each time you sell.
DO PERIODIC STOCK COUNT: This will help you know if any item is missing. You will also identify bad products or those about to expire during this process. You can also install cctv cameras to monitor human activities in your warehouse and shop floor.
SET RE-ORDER LEVEL: This singular act will make it easy for you to identify products or raw materials that you need to reorder. That way, you'll not run out of stock. A good information system can be configured to notify you via email or SMS when items go below the reorder level that you've set.
GENERATE BARCODE FOR ALL ITEMS: This will make stock intake and sales activities very fast. That's because your staff won't have to search for products manually. The barcode will also prevent the salespeople from selecting the wrong item at the point of sale. You can use your inventory management software to generate unique barcodes for your products and raw materials.
USE THE RIGHT UNIT OF MEASUREMENT: For example, pieces, dozen, carton, case, set, etc. It should be based on the smallest unit that can be sold to a customer, and for raw materials, it should be based on how they are used during production. A good inventory management software will allow you to keep multiple units of measurement for each product and raw material.
There are a lot of other things required to manage your inventory effectively. However, if you implement these five
(5) outlined above, you'll be in charge of your inventory to a large extent.
Share this with anyone who is having issues with their product or raw material inventory.
NOTE: You need to have robust business management software in place first.
Send a DM to get started

Welcome to the month of July

Effective inventory management is not an easy task, especially now that staff members are tempted to steal on a daily basis.
As a business owner, you have to be on top of your inventory at all times.
You must do everything within your power to ensure that you maintain an accurate record of your product and raw material inventories.
USE CORRECT COST AND SELLING PRICES: This will let you know your stock value and estimated sales value. It will also help you calculate your profit margin each time you sell.
DO PERIODIC STOCK COUNT: This will help you know if any item is missing. You will also identify bad products or those about to expire during this process. You can also install cctv cameras to monitor human activities in your warehouse and shop floor.
SET RE-ORDER LEVEL: This singular act will make it easy for you to identify products or raw materials that you need to reorder. That way, you'll not run out of stock. A good information system can be configured to notify you via email or SMS when items go below the reorder level that you've set.
GENERATE BARCODE FOR ALL ITEMS: This will make stock intake and sales activities very fast. That's because your staff won't have to search for products manually. The barcode will also prevent the salespeople from selecting the wrong item at the point of sale. You can use your inventory management software to generate unique barcodes for your products and raw materials.
USE THE RIGHT UNIT OF MEASUREMENT: For example, pieces, dozen, carton, case, set, etc. It should be based on the smallest unit that can be sold to a customer, and for raw materials, it should be based on how they are used during production. A good inventory management software will allow vou to keep multiple units of measurement for each product and raw material.
There are a lot of other things required to manage your inventory effectively. However, if you implement these five (5) outlined above, you'll be in charge of your inventory to a large extent.
Share this with anvone who is having issues with their product or raw material inventory.
NOTE: You need to have robust business management software in place first.

They're alot of ways to remain top of mind.
Outlined below, are the most cost effective ways to create a good impression on your customers minds.
Send the following info to them via email;
Invoices/Receipts,
Personalised Birthday Greetings, Loyalty Points, Quarterly Ledger, Sales Promos etc.
You might be wondering how to go about it.
It's very simple, you can configure your business management solution to send this information to your customers automatically.
For example, you always feel appreciated whenever you receive an sms or email from your bank, first thing in the morning on your birthday. You can do the same things for your customers.
All you need to do is start collecting their email addresses and their birthday information. You don't need the year of birth. Only the day and month is sufficient.
Once the email and birthday information is available, you can enable the option in your business management tool to automatically send this info to your customers.
Your customers will be happy and your brand equity will increase tremendously.
Implement it in your business and thank us later.

Avoid these pitfalls if you're a Production-Based Business:
Not counting your raw materials inventory regularly.
Not calculating your bill of materials every time you produce an item.
Not keeping proper sales records (especially for items supplied on credit).
Not keeping proper records of bad or expired raw materials and products.
If you don't take care of these 5 aspects mentioned above, there are a lot of things that can go wrong in a production-based business.
If you need further details, feel free to send us a direct message.

Running a business can be very stressful, especially when you take certain things for granted.
Do the following before you open your business to customers:
Evaluate last year's sales performance.
Set sales targets for 2023.
Count all your stock and do a stock adiustment so that your stock in the system will tally with what you have physically.
Create a budget for inflow and outflow (i.e., receivables and payables).
Outline strategies to achieve your goals, and share them with all those whose contributions will make them happen.
Then go ahead and open shop.
In 2023, refuse to run your business from your head or with pen and paper only.
Invest in a good app that can help you achieve all the points outlined above with ease. Send us a DM to get started

Please ensure you do a proper stock count before you open officially to customers.
As you spend time to set goals and sales target for the year 2023. Please take out time and do a stock count for products and raw materials. Don’t run away from this exercise to avoid stories.

Happy New Year to our esteemed Clients.
Thank you for using the solution to manage your businesses.

Don’t dull yourself or your business this year that manual record cannot make your business successful. Send us a DM let’s take your business to the next level

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2021 was a great year because you used the ERPREV software to manage your business processes and also recommended the tool to other business owners.
Thank you so much we really appreciate 🙏🏾

Happy New year to our Esteemed Customers. 2022 will indeed be a great year for us all. 🎆🎆🎆

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