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Topic: forecasting

Understanding More About the Probabilistic Inventory Model

Try saying ‘probabilistic’ three times fast. It’s a bit of a mouthful. However, it’s more than just a tongue-twister, it’s a great tool for predicting inventory needs. The root of probabilistic is probability and that’s exactly what the probabilistic model is based on — probability. So I bet you’re wondering how probability will hel ... Read More

  June 11, 2019     

3 Useful Tips for Better Forecasting Before Peak Season

For many businesses, the peak season is of such critical importance as that is where most of their sales and revenue is being made. It is, therefore, no surprise that more accurate forecasting is so important for a business’ success as these forecasts will reflect predictions about sales, and in turn dictate significant business decisions. [&hell ... Read More

  January 24, 2019     

Greater Inventory Control Begins with Demand Forecasting

Effective inventory control Maintaining inventory control is a mammoth task and healthy inventory levels are a necessary part of matching inventory stock with anticipated demand. Effective inventory control can be achieved by consolidating inventory processes into a single integrated system. A great inventory management system will be transparent a ... Read More

  October 27, 2018     

Unconstrained vs. Constrained Forecasting: Balancing Commercial Dreams with Reality

A company’s inventory is a significant asset on their books, however, if frequent shortages or excess happens, it can become a significant liability, costing the business’ bottom line. It is imperative to manage inventory appropriately so that supply and demand are always balanced. However, all the inventory management techniques and softwa ... Read More

  October 16, 2018     

True or False? Inventory Management Myths Debunked

Managing inventory, even as a smaller start-up business, can be a delicate balancing act requiring real dedication and commitment. There are innumerable myths about inventory management that plague the world of business and may even prevent new business owners from becoming successful. In this article, we dispel four common myths about inventory th ... Read More

  September 22, 2018     

Five Typical Inventory Management Mistakes You Should Avoid

Inventory can pose a challenge for any business, let alone a business without a dedicated inventory management function. While some aspects of inventory management can be challenging to master, the basics are easy to get right. In this article, we discuss some of the most common inventory mistakes for growing businesses to avoid. Carrying too [&hel ... Read More

  June 7, 2017     

Avoid These Common Inventory Mistakes

It is a great idea to make sure you are aware of common inventory-related mistakes so they are not repeated unnecessarily, costing the company dearly. ... Read More

  April 17, 2017     

Using inventory management software to keep accurate stock levels

Inventory management software is well established as a valuable tool for keeping and maintaining accurate stock levels for businesses of any size. ... Read More

  April 6, 2017     

Manufacturers – can better inventory management improve business performance?

Manufacturers and inventory obviously go hand in hand, and keeping track of all the moving parts for the most profitable results can be difficult. ... Read More

  March 3, 2017