Background Image

Topic: inventory control

Here’s How to Maximise Cashflow with Better Procurement Processes

The cashflow your business generates largely depends on how you source and manage inventory stock. A positive cashflow means the business has more incoming than outgoing cash, which gives you greater buying power and puts you in a position to realise greater opportunities for growth. Business owners know that a healthy cashflow is essential to [&he ... Read More

  March 30, 2020     

What are the 3 Decision Rules for Inventory Control?

Effective inventory control is a process. It involves many areas of an organisation and is a delicate balance between the three categories of inventory costs. As one of a business’ greatest assets, inventory is also the cause one of the hardest decisions manufacturers, retailers and eCommerce businesses have to make. Therefore, it is importan ... Read More

  March 25, 2020     

Identifying and Solving Cashflow Problems

Cashflow is the amount of cash and cash equivalents that move through your business within a given timeframe. Cashflow provides a good indication of the health of your business and is essential for measuring its liquidity. Many cashflow problems are temporary but even a profitable business can fail because of cashflow issues, particularly during ti ... Read More

  March 24, 2020     

How Can eCommerce Businesses Save Money with Better Inventory Control?

In our digital age, businesses are turning to eCommerce and multichannel selling strategies to help them reach larger, more diverse audiences from across the globe. eCommerce is an excellent way to expand your target base, give your brand international exposure and presence, and grow your business financially. It opens up hundreds of new markets, w ... Read More

  March 11, 2020     

The 3 Guiding Factors For Decision Rules To Greater Inventory Control

Implementing an effective inventory control and planning solution or system is only the first step in optimising your inventory management. Another vital component of this process is the set of rules you establish to speed up inventory control and make it more effective. These decision rules for inventory control are designed to eliminate the uncer ... Read More

  March 5, 2020     

Learn to Save Your eCommerce Business Money With Inventory Control

There’s never been a better time to operate an eCommerce business. Shoppers are prolifically turning to online shopping for whatever they need. Whether it’s clothing, food, sports gear or even toiletries, people constantly seek it out on the internet. They compare prices, try to get the best deal and maximise their convenience. There’s a lot ... Read More

  February 28, 2020     

Get a Handle On Your Inventory Costs — Here’s How

Inventory is one of the biggest assets and biggest costs for a business. It allows you to store a wide range of products to meet customer demand, but without proper inventory control, your stock can be a financial drain if it’s mismanaged. You can use inventory control tactics to decrease your overall inventory costs and […] ... Read More

  February 18, 2020     

How Can Small Businesses Leverage Big Data?

While it may seem like big corporations and small businesses are on two different playing fields, that’s not the case when it comes to big data. Despite the fact that small businesses have less self-generated data than those big corporations, they can still get access to big data. Big data is comprised of a large […] ... Read More

  February 3, 2020     

7 Types of Inventory Risk and Their Impact On Your Business

The main purpose of carrying inventory is to provide your customers with the goods and services they expect, when and how they expect them. Businesses make significant financial investment into inventory to facilitate the running of their business, for the purpose in which that business exists. Holding inventory, however, comes with numerous risks ... Read More

  January 27, 2020     

Understanding How Business Intelligence and Reporting Impact Your Business

When you’re running a warehouse, you need to be in the loop with what’s going on, what product is moving where, and if your inventory control is working how you intended it to. There are a few different ways to gain this understanding — some inventory managers turn to reports, while others use business intelligence […] ... Read More

  January 24, 2020     

Is Your Business Experiencing Inventory Risk?

When you have a warehouse full of inventory stock, there is a lot to keep track of to make sure everything gets stored, accounted for and distributed properly. Having a healthy supply of inventory stock helps your business ensure it can meet customer demand. To keep up with demand, this often means you need a […] ... Read More

  January 22, 2020     

5 Factors Affecting Lead Times for Manufacturers

Lead times refer to the time taken between the initiation of a manufacturing process and its completion. Types of lead times differ based on the product or customer but for the purpose of manufacturing or assembly, the primary four lead times are: Customer lead time Material lead time Production or manufacturing lead time Cumulative lead […] ... Read More

  January 13, 2020     

4 Causes of Inventory Discrepancy in Your Stocktaking (And What You Can Do About It)

An inventory discrepancy happens when the actual on-hand inventory stock is different from the item quantity recorded in an inventory system. Discrepancies are not uncommon and can have a substantially negative impact on any business operation. Undetected stock discrepancies can result in lost sales, overstocking and poor customer service. Frequent ... Read More

  January 7, 2020     

5 Causes of Inventory Waste That’s Costing Your Business and How to Avoid Them

Inventory waste can cost your business valuable time and resources. Inventory ties up capital and if you’re not managing it effectively it will quickly absorb important cash flow and worse, it can hide inefficiencies within your operations. It is crucial to optimise inventory control to help reduce your inventory waste. However, before you can re ... Read More

  December 16, 2019     

The Pros and Cons: International and Domestic Sourcing

It’s easy to oversimplify the differences between sourcing for parts locally or internationally. When considering where to purchase from, the prevailing idea seems to be that domestic sourcing allows for better control and shorter lead time, but international sourcing is more cost-effective. Let’s compare the strengths and weaknesses of both in ... Read More

  December 16, 2019     

Understanding The Difference Between Lead Times and Inventory Cycle Times

Lead time and cycle time are widely used terms in the world of lean manufacturing processes. However, people are often confused when trying to understand the difference between the two and their significance to lean operations. Lead times are an external process that start when a request is made for a product or service and […] ... Read More

  November 20, 2019     

Understanding the Key Factors Affecting Inventory Control for eCommerce Businesses

The nature of online businesses is significantly different in scale and operations to traditional retail outlets and as a result the scale of inventory stock can range from small home storage to vast, multiple warehouses facilities. Regardless of whether it’s a multichannel business, its size or nature of the business, it is essential to keep ... Read More

  November 11, 2019     

A 3-Step Guide: Identifying Underperforming Suppliers

Properly tracking and evaluating supplier performance helps ensure smooth operations and profitability. This becomes extra important as you prepare to order stock in the lead up to the holiday season. If a supplier seems to always have an excuse, you’re not wrong in being sceptical if it’s a common occurrence and affects your business schedule. ... Read More

  October 31, 2019     

Aged Inventory Reports: What are they and how do they impact inventory control?

Aged inventory generally refers to inventory stock that has been held for longer than six months usually due to low consumption or slow sales. Aged inventory is not an overnight occurrence however, any surplus of inventory stock is both costing you money and restricting your cashflow. Aged inventory reports Aged inventory reports are documents that ... Read More

  October 30, 2019     

Online Inventory Control and the Importance of Purchase Order Tracking

A purchase order (PO) represents a legal contract between a business and its suppliers for the purchase of goods and services. POs help to ensure that the right quantity of goods or services is delivered in a specified time frame and at the level of quality expected. They also provide a framework for accurate inventory […] ... Read More

  October 29, 2019     

The Unique Challenges Inventory Management Poses to the Restaurant Industry

Restaurants are arguably one of the most challenging businesses in which to control inventory; the fundamental nature of supply, demand and the products themselves set them up for a fickle inventory ride. They are governed inevitably by seasonal availability and subsequent pricing, trends and individual palates, health and safety compliance, the pr ... Read More

  October 21, 2019     

Big Obstacles for eCommerce Retailer

Inventory management is a vital part of a retail business. When you’re selling products via eCommerce platforms, it is even more important to make sure your inventory is under control. There are still a significant amount of retailers who run a stock take manually to manage their inventory, which leads to many problems on how […] ... Read More

  October 11, 2019