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Topic: inventory

6 Signs Your Business is Achieving Efficient Inventory Management

Did you know that better inventory management and control is one of the biggest parts of running a successful business and yet it is one that is often put on the back burner for misconceptions of that it is not a major profitable pursuit? Business owners know that holding inventory stock ties up a lot […] ... Read More

  March 19, 2019     

Use These Inventory Management Tips to Save You Money

Inventory stock can earn you money or cost you money depending on how you manage it. If your inventory stock is managed properly, it will allow you to move products quickly and efficiently, earning you money faster. However, if you have shelves of dead inventory stock taking up space throughout your warehouse and other obstacles […] ... Read More

  February 4, 2019     

The Ins And Outs Of Inventory Shrinkage

Inventory management is an extremely important part of running a successful business, but it can be a complicated task. Theft, damage, miscounting, incorrect units of measure, evaporation and other issues can cause what is known as inventory shrinkage. In this article, we explain what inventory shrinkage is and how you can avoid it. What is [&helli ... Read More

  September 28, 2018     

The Differences Between Pipeline Inventory and Decoupling Inventory

Inventory is a basic component of any retail or wholesale operation, so getting your inventory management right is essential to the success of your business. However, there is more than one type of inventory; in this article we explain the ins-and-outs of both pipeline inventory and decoupling inventory, to ensure your inventory management is succe ... Read More

  September 22, 2018     

Don’t Overlook These Differences Between Inventory and Fixed Assets

Especially at the beginning for small businesses, it’s easy to get inventory and fixed assets confused. Inventory and fixed assets are sometimes treated as assets on a business’s balance sheet, though not all assets are inventory. Knowing the essential differences between inventory and fixed assets helps for better tracking, as well as to h ... Read More

  September 14, 2018     

4 Tips to Manage Inventory in a Seasonal Business

For many small, independent businesses, managing inventory is one of the most challenging aspects of running a business. Unfortunately, inventory management can be even more challenging when firms operate seasonally. Here are four ways to make sure you are well placed to manage stock throughout the ups and downs of the year. Forecasting is critical ... Read More

  June 21, 2018     

Achieving Sustainability in the Supply Chain

As there is a general shift towards lessening our carbon footprints and becoming more environmentally friendly, there is a growing pressure on industries to focus on their level of environmental, social, and economic impact. When it comes to manufacturing inventory, sustainability has become a buzzword for enticing customers to purchase your produc ... Read More

  April 24, 2018     

Dealing with Seasonal Inventory

Inventory forecasting is critical for the smooth operation of any stock-based business. Managing demand can be tricky, however, if a large part of your inventory is subject to seasonal demand. Seasonality essentially refers to inventory with repetitive or predictable supply and demand patterns over a period of time. Manufacturers, distributors and ... Read More

  October 4, 2017     

Breaking Down Types of Inventory

Every business has different types of inventory depending on what goods they sell. There are different ways to account for inventory and different systems to keep stock levels at an optimum balance. By breaking down the types of inventory, it will make it easier to see what can go into the process of producing, storing, […] ... Read More

  August 25, 2017     

Inventory Tracking: Keeping Track of Every Moving Part

Inventory tracking is essentially a process for monitoring inventory levels, orders, sales and inventory movements. In any business, particularly in stock based businesses, there are a lot of moving parts. Keeping track of every aspect of the production process can be difficult, so businesses turn to inventory tracking to understand where each item ... Read More

  July 19, 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     

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     

The Importance of Inventory Control

Inventory control is essentially about reducing costs and improving service. It is also how you manage your working capital to maintain consistent and adequate cash flow. Achieving effective inventory control is accomplished by having the right product, in the right place, at the right time. Maintaining the stock necessary to meet customer’s need ... Read More

  May 26, 2017     

Do you know the basics of inventory management?

Inventory is a vital part of any retail or manufacturing business, yet inventory management often doesn’t get the attention it deserves. If you think about it, even in our homes there is some semblance of order to how we store our groceries. Instinctively undertaking basic inventory management, we generally place tea, coffee and sugar together [& ... Read More

  May 25, 2017