Expecting Demand to Spike? Anticipatory Inventory Could be the Answer
For businesses with unclear or fluctuating demand from customers, holding anticipatory inventory can be the only way to ensure timely product delivery. Anticipatory inventory can be defined as the accumulation of excess stock in the anticipation that it is going to be sold due to an increase in demand. This could be seasonal, such as […] ... Read More
September 13, 2018 excess inventory, excess stock, inventory control, inventory managementHow Retailers Can Use Summer to their Advantage
In the Northern Hemisphere, Jun, July and August are the sweltering summer months. This means hot weather, blue skies, long days and swimming. The last things on anyone’s mind are winter jackets, snowy days and holiday shopping. However, for many retailers, the holiday season is exactly what’s on their mind in summer. Retailers can use [&he ... Read More
June 9, 2018 excess stock, inventory control, seasonal demandToo Much Inventory In Your Manufacturing Warehouse?
Excess inventory in manufacturers warehouse can be a difficult problem. In recent reports, up to 15% of all goods are either returned, or never sold to begin with. As a result, a large amount of these goods end back with the manufacturer. This has flow on effects of increased warehousing costs, as at least 15% […] ... Read More
June 5, 2018 excess stock, inventory control, manufacturers, manufacturingIs it Time to Spring Clean Your Inventory Stock?
In retail, one of the primary reasons for holding stock is to reduce the risk of stock-outs and the potential of lost sales. Additionally, seasonal supply and demand fluctuations may require companies to hold higher stock levels at certain times throughout their business cycle. Whatever your reasons for holding stock, it is important to manage [&he ... Read More
May 26, 2018 excess stock, inventory control, reasons for holding stock, stock controlSpring Cleaning for Better Inventory Control
Problems with excess inventory is an issue in many businesses, and finding ways to clear product from shelves while minimising profit loss is essential for running a successful business. Many businesses fall into the trap of holding old inventory in the hopes of selling it eventually, but keeping idle inventory is costing your business money [&hell ... Read More
May 24, 2018 excess stock, inventory control, inventory management, retailMaintain Inventory Control Using Trade Discounts
Trade discounts are often used as a means to increase sales. They are an excellent way to sell off large amounts of stock, especially useful in the case of obsolete or excess stock. Therefore, trade discounts can form a vital part of your inventory control processes. Below, we examine the key features of a trade […] ... Read More
September 15, 2017 discount pricing, excess stock, inventory control, inventory management, trade discountsThree proven ways of turning the tables on excess inventory stock
Overstocked inventory happens when a business inaccurately orders inventory stock and is left with more than the market demands. Having excess inventory stock is bad for business because it means that there are associated inventory turnover problems and the costs involved with managing it are not great for the bottom line. Excess inventory stock ca ... Read More
August 21, 2017 excess inventory, excess stock, inventory management, inventory softwareMaking the Most of Excess Stock
Overstocking can have huge knock-on effects for your business, and one of the primary consequences are the associated draining of profits. Unless you can sell the excess, overstocking can be financially draining due to prolonged storage costs and the wasting outdated or expired stock. The most effective means to negate the problems associated with ... Read More
July 31, 2017 excess stockInventory management overview: what is it and what are some of the benefits?
Inventory management may be a term you have heard thrown around business journals, although you may have never had a good understanding of how to achieve it. Inventory management is basically just that, managing inventory and ensuring that the balance of inventory coming in to inventory being manufactured and shipped out is as close as […] ... Read More
July 13, 2017 excess stock, inventory management, inventory management software, inventory management system, stock forecastingImproving 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 efficient inventory management, excess stock, inventory, inventory management, safety stock