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Topic: inventory control

The Ins and Outs of SDE Analysis in Inventory Management

Inventory control encompasses all aspects of managing a business’ inventory stock, from purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering. Inventory control is such a critical function for many businesses spanning every industry. Without effective inventory control methods, the supply chain can suffer, y ... Read More

  December 15, 2018     

Should Your Business Be Using the Weighted Average Cost Method?

The weighted average cost method is an accounting method that businesses use to value inventory. This method of valuing inventory involves proportional treatment of both the cost of goods sold (COGS) and the inventory item in stock at the time of valuation. This means that both are treated the same when it comes to determining […] ... Read More

  December 14, 2018     

Using ABC Analysis to Make Your Inventory Work For You

Whether you’re a manufacturer, a retailer or a trader, it’s important to keep on top of your inventory. Everything in your inventory has value – you’ve invested time and resources and money into each and every item, and you’ve done that because each and every item is worth something to someone else. If you aren’t […] ... Read More

  December 13, 2018     

Overcoming the Challenges of B2B Order Fulfilment

B2B commerce is expanding exponentially and with this growth, there’s been a significant shift in the way companies manage their sales and B2B order fulfilment processes with greater focus in the areas of inventory control, speed and the ability to meet order deadlines. In an increasingly eCommerce environment, the necessity for companies to eff ... Read More

  December 10, 2018     

Inventory Optimisation for Greater Inventory Control

The biggest challenge of inventory control is getting the balance right, to meet the challenge of matching supply volumes to customer demand and with any good enterprise or activity, it usually pays to start with the basics. Inventory optimisation basics There are many different inventory control techniques out there, knowing what to stock and the ... Read More

  December 10, 2018     

How To: Improving Your Inventory Turnover Ratio

If you’re in business, you may have heard of something called inventory turnover. So, what exactly is it and why is it important for business owners? In this article, we explore the ins-and-outs of inventory turnover and how you can improve your inventory turnover ratio to maximise the success of your company. The basics Essentially, […] ... Read More

  December 7, 2018     

As Easy As ABC: Categorising and Managing Inventory

ABC analysis is an inventory management principle which stands for Always Better Control. It is based on the Pareto principle (20% of a commodity accounts for 80% of the net result) and can be very useful for management of a company’s inventory. In this article, we consider what ABC analysis is exactly and how it […] ... Read More

  December 6, 2018     

Optimising Inventory Control in Multichannel Businesses

For business owners, keeping up with the changing demands of customers can be challenging, especially when these demands require considerable changes to the way your business operates. With better inventory control and optimised management, your multichannel operation can perform at a higher level and meet customer expectations. Integrating invento ... Read More

  December 5, 2018     

Optimising Inventory Management for Multichannel Businesses

Managing multichannel inventory requires clear and concise inventory strategies to combat the challenges associated with multi-platform sales. By increasing visibility, working with supply chains, reconciling inventory, connecting systems, and managing safety stock levels, you can improve multichannel inventory management. Offering visibility throu ... Read More

  December 4, 2018     

The Relationship Between Cashflow and Inventory Control

How you manage your inventory will directly impact the cashflow of your small business and when you fail to effectively manage stock you are putting your business at a disadvantage. Why? Because your cash is tied up in that very stock. The correlation between inventory control and cashflow is largely determined by the levels of […] ... Read More

  December 3, 2018     

Watch Your Cashflow Improve with Inventory Management

There’s a lot to think about when managing a business. One of the most important activities a business can do is to optimise cashflow. There are numerous approaches to refining the operational cashflow in a business. One of the primary keys to a healthy cashflow is inventory management. The following tips break down how you […] ... Read More

  December 1, 2018     

Inventory Management for Multiple Warehouses: The challenges companies face

The warehouse is the heart of inventory management where all goods receipted in, handed to production and shipped out must be in perfect synchronisation, no stream accumulating more than the others. This is not an easy task and requires a lot of attention to detail and dedication, and it becomes even more difficult where multiple […] ... Read More

  November 30, 2018     

How Much is Bad Inventory Control Costing You?

Inventory is one of biggest assets for a company. However, keeping track of inventory can be tricky. Acquiring the inventory from other suppliers is only part of the equation. Once you have the inventory it needs to be adequately organised and you need to monitor stock levels. Managing a warehouse with sound inventory control is […] ... Read More

  November 29, 2018     

Control Your Inventory to Control Your Cashflow

When you think of inventory, you might think of a warehouse, cardboard boxes or endless aisles of products stacked high into a ceiling. When you think of inventory, do you think of how it’s impacting a business’s daily cashflow? It might not be the first thing to come to mind, but it sure is important. […] ... Read More

  November 28, 2018     

The Benefits of Cloud-based Software for SMEs

For every business that wants to stay competitive, cloud adoption is becoming less of an option and more of a necessity. Cloud-based software are the perfect tool for SMEs to optimise operations and increase efficiencies. Benefits of cloud software for SMEs Cloud-based software solutions take a lot of the worry out of running a small […] ... Read More

  November 28, 2018     

The Ongoing Evolution of Inventory Control

Prior to the industrial revolution, inventory control was all but not existent. Sure, some merchants and shopkeepers would count their stock numbers at the end of each day to determine what had been sold. Or perhaps they wrote down all sales and deducted the transactions from the inventory quantities they presumed they had. Either way, […] ... Read More

  November 27, 2018     

Ensuring Your High-Margin Products Are Irresistible, In-Store & Online

There’s no doubt about it; in today’s crowded market, it pays to put time and effort into the visual aspects of your products. Whether you’re a retailer competing against big-name players in national supermarkets or a local retailer with a full store at your disposal, when it comes to making sales, it’s often the first […] ... Read More

  November 23, 2018     

Improve Order Fulfilment in These 5 Areas

Order fulfilment is the task of getting merchandise to your customer each time an order is received. It sounds simple, but it’s a complete process that requires multiple steps to achieve. This process involves warehousing, picking, packing and shipping the product, and sending an automated email to the customer to let them know the order [&he ... Read More

  November 15, 2018     

The Future of Inventory Control for Small Business

Small business inventory control is not what it used to be. Gone are the days where store owners and merchants would count their stock at the end of each day or use the punch card system introduced in the 1930s. Inventory management has come a long way, products no longer need to be tracked down […] ... Read More

  November 14, 2018     

5 Challenges of Fulfiling eCommerce Orders

For any retailer, fulfiling customer orders in a timely and appropriate manner is the primary goal first and foremost in their minds. However, order fulfilment is not a simple concept that involves receiving orders, locating the product in the warehouse and calling it a day. The challenges arise in ensuring the received orders and inventory [&helli ... Read More

  November 3, 2018     

Integrated Inventory Management Software and Accounting Software for Successful Business Growth

More than ever, competitive businesses are acknowledging the importance of adequate inventory control practices and appropriate management software, but the integration of accounting software with that of inventory management offers many advantages for better holistic business management. Combining forces in this way offers visibility and optimisat ... Read More

  November 1, 2018     

Retailers are Facing These Difficulties with Click and Collect

Online shopping is a way of life. It gives us flexibility and a variety of choice. It lets us choose when we shop and which retailer we want to buy from. Lots of retailers are looking at different delivery methods to support their eCommerce platforms. Some retailers have adopted the BOPIS model in response to […] ... Read More

  October 31, 2018