Scrip Inventory Brings Big RewardsIn the fast-paced times that we live in, wouldn’t it be nice if convenience was always guaranteed? Now it can be for your scrip program if you keep an inventory! Contrary to popular belief, having an inventory does not just benefit your families, who don’t have to worry about ordering or buying scrip on their own, but it can also benefit you in more ways than one, especially in growing your program.
Getting StartedThe first step to creating an inventory is deciding whether or not it is the right move for your program. The key here is to determine whether your demand will be high enough to require an inventory, and if you will have the funds to start. Inventory programs are popular with churches and parochial schools that have a lot of members, while often times, smaller schools don’t have the membership or the funds for an inventory.
Ideas for starting your inventoryThere are easy ways to start getting money for your inventory:
Building Your InventoryWhen you are getting started, you don’t have to have an extensive inventory, just carry the essential scrip your families need, with just a handful of cards of each. If you have a Scrip Program, you can run reports to see what the most popular cards for your families are, and start your inventory with those. If you haven’t managed an organization yet, start with things like gas and groceries that your families will definitely use; you can also ask your families what they would like to see in stock for their convenience. Word to the wise: you don’t have to get every denomination the card comes in. Just start with the higher denomination (especially for gas and groceries) so that your families can just use one card during a trip, showing them how easy scrip fundraising is. Of course what you carry, though, depends on the funds you start with.
There are really no rules when it comes to ordering for your inventory; however, you do want to make sure your stock is replenished. So when your new cards come in, sell your old cards first, so you can keep your scrip cycling!
Secure Your ScripAs important as it is to cycle your scrip, it is equally as important to take some security precautions. First and foremost, remember that scrip gift cards are like cash and, therefore, must be protected like real money. That means that you should keep your inventory in a very secure location with limited access.
It is also important to regularly reconcile your inventory to find any possible mistakes and correct them quickly. Our inventory software, SCRIPWARE®, provides a reconcile feature that verifies that you have the correct amounts on hand of each product and helps you identify any mistakes in your program.
Set up a Scrip ShopAn added bonus of carrying an inventory is being able to run cash-and-carry sales and a scrip shop. Inventories allow for a sort of “scrip-to-go” feeling where families can just come up to your scrip shop and purchase what they need right then and there. You can always check with your administrator to see where the best location for a scrip shop would be, potentially a high traffic area, like where parents drop off and pick up their kids before or after school or after a church service or event. Wherever you decide to set up shop, you could continue to be open during the summer for certain hours to, again, provide convenient scrip options for your families. Now, you don’t have to have a ton of cards at a shop, just some essentials that families need. And if you don’t have something that they want, and they have a ShopWithScrip® account, your families could still order ScripNow® eCards, or reload their registered cards on ShopWithScrip.com or our mobile experience, MyScripWallet™.
Save Time with SCRIPWAREOne way to cut out the extra work is to use SCRIPWARE for your inventory tracking. Our convenient software gives you all of the tools you need to track your inventory both safely and accurately.
- SCRIPWARE will manage your on-hand inventory and tell you what you currently have in stock to fill family orders.
- Track ScripNow and Reload purchases in one location, so your families can place their orders online and you don’t have to worry about missing information.
- SCRIPWARE tracks your money in and money out, along with sales by family, so you can better gauge what scrip you need.
- Designate where your families’ rebates are going with SCRIPWARE profit sharing feature.
- Set desired quantities for inventory products and the system will automatically include those numbers when you create a PO.