Controlling Inventory Costs: Ordering, Holding and Shortage
Impact of inventory costs Inventory is likely to be one of your biggest assets. Given the size of inventory on a typical business’ balance sheet, significant inventory costs are to be expected. Although the cost of procuring stock is the most obvious component, a range of other inventory costs (such as ordering costs, holding costs […] ... Read More
May 27, 2017 cloud computing, holding costs, inventory, inventory cost, inventory management software, ordering costs, shortage costsIs your inventory in top shape?
Inventory health is where a healthy balance between stock in and stock out is achieved, which helps business growth in the longterm. ... Read More
April 25, 2017 ditch spreadsheets, holding costs, inventory health, multiple warehouses, stock turnoverDo You Know the True Costs of Inventory?
There are three costs of inventory that should be carefully considered as they can drastically affect the bottom line without any apparent cause. ... Read More
April 18, 2017 holding costs, ordering costs, sales forecasting, shortage costs, supplier managementHow does consignment inventory work?
Consignment inventory is a useful arrangement that allows a supplier and a retailer to create a “win-win” scenario through the sharing of risk. ... Read More
March 21, 2017 business capital, consignment inventory, holding costs, shared risk, supplier managementThe benefits of a strong inventory management system
There are many aspects to running a business: sales, inventory, financing, and marketing, and all will have benefits for your business if done well. ... Read More
March 16, 2017 business benefits, customer retention, flexible inventory management, holding costs, inventory control