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Inventory management is one of the challenging parts of running a cell phone repair business. It includes organizing several small parts and accessories and keeping your stock to the fullest, which can be difficult for phone repairs. And what makes this even tougher? Keeping an eye on the stock using manual methods and procedures.
However, in this post, we are going to disclose how someone can simplify inventory management at their cell phone repair store. Moreover, we will let you know how shop inventory management software can help you in this regard. Below are the details.
1. Prioritize Inventory
Prioritizing your inventory can help you understand what accessories you need to order more and which repair parts are the high-selling items. You can also divide them into different groups depending on their sales, availability, costs, etc.
For instance, the poor battery is one of the common cell phone issues. So, you must order batteries for the trending or the latest smartphones; as you would know, 1 out of every 2 or 3 customers will visit you to get their phone’s battery fixed or replaced.
Similarly, you can look for other common mobile phone problems, such as screen damage, charging port issues, etc., and can organize your inventory according to that.
2. Automate the Process
Being a repair business owner, you can’t monitor your stock 24/7 using manual methods, registers, counting, etc. Additionally, you cannot always be present at your store and manage everything on your own, as there will be a high chance of human errors.
But, using the cell phone repair shop software, you can now track your inventory whenever you want. The highly efficient system will never let you run out of stock.
Its notification feature will inform you whenever you are low on stock. Thus, you will never lose any of your sales due to an inventory shortage. Moreover, you can order parts and accessories from your desired vendor, saving you a lot of additional hassle.
3. Hire an Inventory Controller
Inventory control is used by businesses to show the amount of stock they have at a particular time. And as you run a cell phone repair store, where you have to organize and keep an eye on several small repair parts and accessories, you require a designated person responsible for that.
He/she will ensure that you are ordering the required parts and check on the stock from time to time. In addition, a stock controller is responsible for processing everything related to inventory, including purchase orders and deliveries, and ensuring the ordered parts are the same.
4. Get rid of what has been in your Inventory for a Long Time.
At a phone repair store, there must be repaired parts or products in your inventory that no one is interested in buying. So, instead of keeping them in your shop, get rid of them if they have been there for more than two years. For instance, this is 2023, and Samsung has launched its S23 series.
If you still have LCD panels or ICs of S7 and S8, you should keep them somewhere else, as no one would be interested in buying that. Rather, try to have repair accessories for trending smartphones such as iPhone 14, and Oppo Reno, as they are high in demand and will sell out quickly, not taking your shelf space.
However, if you have a customer interested in repairing their older generation cell phone, you can order special parts using the shop inventory management software. Also, you can charge an additional amount as those parts are not readily available, and one needs time to source that.
5. Forecasting
Businesses forecast their inventory to predict how much stock they will need to meet the demand. This can depend on several factors, such as the growth of your repair business, the latest trends in the industry, or the customers’ requirements.
Also, it can estimate how many days you can last with the current inventory—for instance, 5 or 10 days- helping you fix your inventory management issues so that you can grow even faster with streamlined operations.
6. Auditing
Auditing is one of the crucial parts of managing your inventory. Some retail and repair businesses do it once a year; others perform it twice a month. Whether you do it weekly or monthly, ensure it matches what you think you have in your stock. Also, if you don’t perform the auditing, start doing this today, and you will see the difference yourself.
Final Words
Your cell phone repair business will surely grow at full pace if you streamline the inventory management process using technology, having an inventory controller, and properly auditing your stock. Also, the suggestions we have mentioned above are highly effective and will give you the results if properly followed.
Hopefully, you enjoyed reading this post.
