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#Organise jewellery how to#

#Organise jewellery how to#

If you want to run a lean jewelry business – meaning a business that only has what it needs when it needs it – you have to learn how to organize and track your inventory.Ī labeling system is a jeweler’s best friend. It’s all about finding the perfect balance so your business can be as profitable as possible. But if you have too much, you’re essentially leaving cash to collect dust on the shelves of your studio. If you don’t have enough on hand, you won’t have anything to sell. Inventory management is a careful balance. If your jewelry business is struggling, it might be because you have an inventory problem.

Scrap metal that can be traded in for money.

ALL of your raw materials – right down the smallest components.

So let’s talk about how you can avoid making the same mistakes I did all those years ago… Why Inventory Tracking is Crucial to Running a Lean Jewelry Businessīefore we go any further, we need to define what inventory is so that you understand what to measure. If you’re anything like I was, having 150K in cash would be far more beneficial to your jewelry business than 150K in extra inventory. Turns out all those years of impulse purchases and poor inventory management added up to create a serious problem for my business.Īnd the worst part – I never even realized it was an issue.

That’s triple my original estimate! I was shocked. When we added it all up, I actually had over 150K worth of dead inventory just lying around the studio. It took a whole week to get through all of it.

Together, we started sorting through dusty boxes of pre-made stock, unsold samples, and raw materials. “I don’t know, maybe about 50K?” I guessed. One of the first things he asked me to do was estimate the value of how much inventory I had on hand. What he discovered was… honestly a little embarrassing. After years of struggling, I finally hired a consultant to help me get to the bottom of my cash flow issue. The sales were flooding in, and my business was seemingly growing, but somehow I was still barely scraping by each month. Many, many years ago, when I was still running my first jewelry business, I was having major cash flow problems. The way you organize and track your inventory could be the reason your jewelry business is struggling…