Inventory Management for Kirana Stores

Kirana stores that have mostly operated as the unorganised grocery retail segment are undergoing a digital transformation in recent times. The Kirana store owners must take inventory management for Kirana stores very seriously to efficiently serve their customers.

Types of Inventory in Kirana Stores

The inventory in Kirana Stores include the following:

• Finished Goods- This refers to the finished, saleable goods available by hand.
• Maintenance, Repair, and Operations (MRO) Goods- This refers to items required to maintain the products or the store. Cleaning supplies, safety equipment, machines, repair tools, etc., fall under this category.
• Packing Material- This refers to the items required to pack or protect the finished products.
• Safety Stock and Anticipation Stock- Safety stock refers to the extra inventory that a store keeps dealing with any unexpected events in the future. On the other hand, the anticipatory stock is purchased and stored to deal with any production or sale trend.
• Transit Inventory- Also known as the pipeline inventory, transit inventory refers to the stock shipped by the supplier but not yet received by the buyer. 
• Obsolete Inventory- This refers to the unused inventory consisting of products that are not expected to be used or sold.

Inventory Management at Kirana Stores

• Managing Demand- Working closely and maintaining healthy relations with the suppliers, distributors, etc., to secure a dependable and fast supply to meet customer demands and expectations.
• Maintaining Stocks at Par Level- Maintaining stocks at par levels allows owners to restock products only when necessary. This eliminates the problems of having inadequate or excessive stocks.
• Grouping Related Products- Stocking similar products can increase sales by making customers buy impulsively. Customers might also buy products because of such grouping that they otherwise would have forgotten.
• FIFO Approach– First in, the first-out approach enables retailers to sell the new inventory only when the old inventory is completely sold out. This reduces shrinkage or spoilage and allows the retailers to see the true picture of inventory costs.

Inventory Management Software for Kirana Stores

Using inventory management software like ClearOne can significantly reduce employee costs and increase efficiency. More and more Kirana stores opt for ClearOne to eliminate discrepancies and get absolute control and accuracy of their inventory and purchases.