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 demand forecasting, forecasting, inventory control, inventory management, stock control3 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 forecasting, seasonal demandGreater 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 demand forecasting, forecasting, inventory controlUnconstrained 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 business forecasting, demand forecasting, forecasting, inventory management, inventory planning, supply and demandTrue 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 forecasting, inventory management, small business, SME, stock controlFive 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 accurate stock levels, cloud-based software, ditch Excel, forecasting, inventory managementUsing 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 cloud-based inventory, ditch spreadsheets, forecasting, SaaS, software as a serviceManufacturers – 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 business streamlining, forecasting, lean production, manufacturers, supply chain management