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Topic: efficient inventory management

Five Effective Ways to Reduce Cost of Goods Sold

Cost of goods sold, also known as COGS, is one of the most important elements of your business to understand. COGS can be defined as: “The direct costs attributable to the production of the goods sold by a company. This amount includes the cost of the materials used in creating the good along with the […] ... Read More

  March 7, 2018     

What Does Optimising Inventory Really Mean?

As one of your business’ biggest assets, inventory is too important to take half measures. Businesses are increasingly realising how crucial it is to prevent stock outs but at the same time, a lot of firms are facing tighter operating budgets than ever before. Many businesses talk about optimising inventory, but what does this really […] ... Read More

  January 20, 2018     

ABC Analysis: Focusing on the Critical Few

In most stock-based businesses, the Pareto Principle, often known as the 80-20 rule, holds true for most aspects of inventory management. Roughly 80% of the value of a business’ inventory is usually tied up in about 20% of its product lines. This implies that managing the top 20% of a business’ inventory is critically important. […] ... Read More

  December 15, 2017     

Barcode Scanning to Track Every Moving Part

Small businesses sometimes struggle with inventory control but, unfortunately, many of these businesses consider that they do not have the time or capital to spare to implement a solution. In reality, an effective stock control system is likely to save both time and money. An automated or semi-automated inventory management system that combines bar ... Read More

  August 25, 2017     

Inventory Management: Ten Ways Spreadsheets Let You Down

Spreadsheets and other manual inventory tracking methods have a number of weaknesses when compared with best in class inventory management software. If you are still using spreadsheets to manage your inventory here are ten reasons why you need to stop so that your business can reap the rewards it deserves. Manual data entry is prone […] ... Read More

  August 16, 2017     

The Importance of Barcode Software in Inventory Management

Manually controlling inventory can be time-consuming and error-prone. Even smaller businesses can run in to trouble if all processes are conducted manually. Barcode software can be a hugely beneficial tool for inventory management. This software eliminates the risk of inventory control mishaps which can occur when relying solely on manual processes ... Read More

  August 2, 2017     

Why correct inventory levels are a must

Keeping correct inventory records is a major management tool for any business that carries inventory. Businesses need to be able to rely on accurate inventory levels to operate and fulfil client orders. Here are some of the key benefits from accurate inventory management: Correct inventory levels are essential for planning By having correct invento ... Read More

  August 1, 2017     

Six Tips For Inventory Management Best Practice

Inventory is one of the largest assets in a goods-based business, and even if your business is small-scale, chances are that a significant part of its capital is invested in inventory. In a goods-based business, your success depends on inventory being managed well. In this article we look at what best practice looks like in […] ... Read More

  July 25, 2017     

Four Proven Ways to Streamline Your Inventory Management

Inventory management is a core business function which is responsible for all decisions about all goods and materials in an organization. Effective inventory management involves ensuring that policies, activities and procedures are in place to make sure the correct amount of each item is held in stock at any time. Let’s discuss four proven ways [ ... Read More

  July 20, 2017     

Factors Affecting Inventory Management – Inventory Control 101

In this guide to the basics of Inventory Control we explain: 6 factors that affect your Inventory Management Inventory Control vs Inventory Management A short history of Inventory Management The basics of modern Inventory Management The 4 fundamentals of Inventory Control 6 Factors Affecting Inventory Management When managing your inventory process ... Read More

  July 19, 2017     

Five Measures to Increase Efficiency and Reduce Cost in Your Business

There are several cost-reducing measures that your business can adopt today to increase your business’ bottom line. The important cost-reducing measures at the forefront of business operations that can directly impact your business’ costs are negotiating new contracts, taking advantage of opportunities by looking at alternative suppliers, havin ... Read More

  July 18, 2017     

Ready2Go Furniture experiences increased sales with Unleashed

Ready2Go Furniture is a wholesale office furniture retailer that sells office furniture to retailers all across Australia. Adam Tobias, owner and operator of Ready2Go has worked in the industry for seven years and spotted a gap in the market. Five years ago, he noticed that import solutions for office furniture were severely lacking. Ready2Go was [ ... Read More

  July 14, 2017     

Improving Inventory Management

Inventory management processes can be continuously improved. Many businesses fail to adequately organise inventory in a way that will effectively reduce costs and improve efficiency. Below, we summarise some key factors which can improve inventory management. Categorisation of operating inventory In order to make well-rounded decisions regarding in ... Read More

  July 12, 2017     

Inventory Management for Drop Shipping Success

If you are a proud business owner, you will know the inventory game all too well. The goal is to ensure inventory receipted into stock is perfectly balanced with inventory sold. Unfortunately, this level of harmonious inventory management is difficult to achieve without the right support. Now imagine how difficult it is to effectively manage [&hell ... Read More

  July 10, 2017     

5 Inventory Management Strategies to Boost Results

Inventory is one of the key factors that can be managed to improve business performance. The strategies in which a company manages its inventory has major consequences to performance. There is a real need and a shift to more efficient inventory management and software can help achieve this. In particular, software that oversees inventory management ... Read More

  June 27, 2017     

Volt Bikes improves inventory efficiency for their manufacturing business

VIDEO TRANSCRIPT Unleashed has given a lot more time to us, we finish our work at normal business hours now rather than having to stay late go through multiple spreadsheets, double- check everything, we just know it’s reliable and really, is really given us more time just to see family and stuff afterwards, it’s nice, just relax. My name is ... Read More

  June 6, 2017     

ShinDigger boosts inventory management efficiency for their brewing company

Simple brewing beginnings The seeds of ShinDigger Brewing Co were sown when founders Paul Delamere and George Grant started home brewing at the University of Manchester. With a loan from the government, they began shadow brewing. This means they didn’t actually own their brewery facilities. Instead, they developed their own recipes and brewed the ... Read More

  May 30, 2017     

Creating Efficiencies in Distribution Inventory

Distribution and wholesaling revolve around inventory. Distributors are in the business of consolidating procurement and minimizing cost for retailers and other businesses. Because distributors work with narrow margins and compete extensively on price, efficient inventory management is essential. Let’s look at some ways that a distributor can car ... Read More

  May 15, 2017     

Uncertain Transportation Costs: An Opportunity to Become More Efficient

Uncertainties in transportation capacity, underlying costs and demand mean that the cost to merchants can be difficult to understand and plan for. ... Read More

  May 1, 2017     

Understanding the Difference Between 3PL and 4PL

There is often a fair amount of confusion and debate around the difference between 3rd Party Logistics (3PL) and 4th Party Logistics (4PL). While they are indeed different, and offer different levels of logistical services, some 3PLs call themselves 4PLs, and vice versa. This of course, tends to further confuse the matter. When it comes […] ... Read More

  February 18, 2017