Inventory management is a critical component of running any business, including a salon. Salon inventory refers to the products and supplies on hand to use during appointments and sell to clients. Inventory management is the process of tracking, organizing, and ordering inventory to ensure that the salon always has stock. Effective inventory management is essential for salon owners a it can impact the bottom line. 40% of salons have products sitting on shelves, with the rising costs of backbar products, that is a lot of cash flow locked up.
Fortunately, technology can provide salon owners with tools to streamline and improve their inventory management processes. Here are three ways that technology can improve your salon inventory management:
Track product usage in real-time
One of the most challenging aspects of inventory management is knowing what products have been used during appointments. With a digital system, you can track the products used each appointment, to determine which products need to be restocked. This enables salon owners to make informed decisions about which products to reorder, rather than simply ordering based on guesswork.
Utilize stock alerts
The process of completing a stock count can take hours. Digital solutions, like SalonScale, save time and create ease in your day-to-day operations. A system that shows the status of stock alerts gives salon owners direct insight into what they have in stock. This prevents over-ordering and ensures that products are reordered before they run out. This can also prevent ordering hungry or letting discounts drive what you purchase. With SalonScale, you can download the order form showing exactly what you need and send it off to your distributor. This feature can help salon owners save money and reduce waste by preventing expired products from sitting on shelves.
Restock Inventory with one click
Now there is still the manual process of placing your items back on the shelf. With SalonScale, after you receive your order, you can mark that product back in stock with just one click. This makes the entire process seamless and repeatable, reducing the time and effort required to manage inventory.
In conclusion, salon inventory management is a critical part of running a successful salon. By utilizing digital tools to track product usage, utilize stock alerts, and restock inventory with one click, salon owners can streamline their inventory management processes, save time, and reduce waste. If you’re looking to level up your backbar, get in touch with our team today!