If you sell handmade goods, resell items or do markets, a simple inventory record tells you what you have, what sells and when to restock, without expensive software.
1. Give every product a SKU
A short code (for example CND-LAV-8) keeps similar items apart and makes logging quick.
2. Record cost and price
Cost per unit (materials or purchase price) and selling price let you see margin per item. Products with thin margins may need a price check.
3. Log stock in and stock out
Each time you make or buy stock, log it in. Each sale, giveaway or damaged item goes out, with the channel (online, market, wholesale).
4. Set reorder points
Pick the quantity at which you restock or make more, so best sellers don't run out before a busy weekend.
5. Count before big events
Do a quick count before a craft fair and at year end, and fix any differences in your log.
Checklist
- ☐ SKU for every product
- ☐ Cost and price recorded
- ☐ Stock in logged
- ☐ Sales logged by channel
- ☐ Reorder points set
- ☐ Physical count done
This is record-keeping, not accounting or tax advice. Doing a year-end look back? See the small business year-end review.