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Topic: inventory control

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     

Managing Underperforming Suppliers: What You Need to Know

Supply chains are becoming progressively more complex as businesses rely on a large network of manufacturers, wholesalers, retailers and a growing portfolio of inventory stock varieties to meet consumer demand for more choice. Stocking goods in the right quantities to meet demand maximises inventory turnover rates and will ensure that goods move qu ... Read More

  October 10, 2019     

Solving Traditional Inventory Challenges with Online Inventory Control

Marketplaces are constantly changing, and eCommerce is driving increased competition for both large organisations and SMEs from across the globe. Supply chains are becoming increasingly complex and customers are correspondingly as demanding as they are more vocal about their experiences. Factors affecting inventory managament are becoming equally c ... Read More

  October 4, 2019     

How to Set Meaningful Assessments and Key Performance Indicators

It’s important to take the right steps when setting Key Performance Indicators (KPIs) to ensure they are meaningful and deliberate to help improve business performance. To achieve meaningful KPIs you must first have a clear understanding of the difference between KPIs and targets. Key performance indicators KPIs help businesses to understand how ... Read More

  September 20, 2019     

An Overview of Best Practices for Efficient Purchase Ordering

A purchase order (PO) is a document issued from a buyer to a seller that communicates a request for procurement of goods or services. PO’s also form part of an organisations inventory control practices; they help to increase purchase efficiency and serve as a legally binding contract, enforcing the deal between purchaser and supplier. Getting [&h ... Read More

  September 18, 2019     

Purchase Orders and Purchase Requisitions: What’s the Difference?

Supply chains are a fundamental tool for any inventory business. However, supply chains are a very involved and sometimes complex process. It’s vital to understand how the procurement process works and making sure you understand what different parts of the process mean. Two key parts of the procurement process are the purchase order and purchase ... Read More

  September 10, 2019     

Why Sales Reports are Important to Inventory Management

When managing your inventory, you are always looking for ways to optimise and improve your operations. Trying to keep healthy levels of inventory without overstocking or understocking is a difficult practice that most inventory businesses experience. Having inventory stock go in either direction can be a costly exercise. This can lead to greater pr ... Read More

  September 9, 2019     

Should Your Business be Using Purchase Order Tracking?

When you’re managing a warehouse and trying to run a business, purchase orders can play a vital role in enhancing transparency throughout your entire organisation. They can help you track what’s going on through the simplicity of a single number. Whether you run a small business or you play a role in a large procurement […] ... Read More

  September 7, 2019     

Two Ways You Can be in Control of Lead Time

Ensuring your business has enough stock on hand is a juggling act. Most businesses store inventory to ensure they have enough to meet a surge in customer demand. However, they run the risk of tying up capital in excess inventory. A better solution is to focus on reducing the lead time in your supply chain. […] ... Read More

  September 4, 2019     

The Benefits and Limitations of a Business Intelligence Dashboard

A business intelligence dashboard is an information management tool, that uses data visualisation technology to analyse and display information visually in a practical and useful way. It can be used across a multitude of functional areas within an organisation and is a useful tool for helping to measure performance and for managing inventory contro ... Read More

  August 31, 2019     

The Importance of Sales Reporting to Successful Inventory Control

Every retail, eCommerce or business owner should be familiar with financial reports because they are dictated by legislation and require the disclosure of financial results. These reports are usually released quarterly or annually and include the Balance Sheet, Income Statement, Cash Flow Statement and Statement of Changes in Equity of the organisa ... Read More

  August 29, 2019     

Overcoming Frustrating Inventory Challenges for Restaurants

Managing inventory can be stressful and time-consuming, and let’s face it, traditional methods of tracking inventory stock aren’t very effective anymore. To help eliminate this stress and save your establishment money, we’ve collated the most common frustrating inventory challenges for restaurant owners and managers. You’ll be delighted to ... Read More

  August 21, 2019     

Inventory Backorders And Their Impact On Inventory Control

Effective inventory control is a balancing act between reducing the costs of holding too much inventory stock with the need to maintain enough stock to meet customer demand. Stockouts in many cases lead to lost sales and customer dissatisfaction but what if there is a customer order that cannot be immediately filled but for which […] ... Read More

  August 20, 2019     

Dealing with Aged Inventory

Those in the business of selling goods will have at least a vague understanding of the nature of excess or obsolete inventory, and the effects these forms of inventory can have on the business holding them. A related inventory type is known as ‘aged inventory’. In this article, we define aged inventory and outline the […] ... Read More

  August 14, 2019     

How to Overcome 5 Challenges of Restaurant Inventory Control

Controlling and monitoring inventory stock is an ongoing challenge for may restaurant owners. Properly managing your restaurant inventory is, however, crucial to the financial and operational functions of the restaurant from the perspective of waste reduction and controlling your food costs. May restauranteurs find inventory stocktaking to be a tim ... Read More

  August 12, 2019     

Product Labels and Barcode Labels can Benefit Manufacturers

While everyday consumers give little thought to the simple barcode label affixed to their purchases, businesses involved in moving inventory stock and assets understand their importance and are increasingly investing in custom barcode labels for their organisations. Barcode labels are extremely common and can be found on most products in a retail o ... Read More

  August 10, 2019     

How Using Cloud-Based Software Applications Improve Inventory Control

Whether you are in retail, eCommerce, distribution, manufacturing or any other business or service that requires any type of inventory stock, effective inventory control can help to increase your company’s productivity. Efficient cloud-based inventory control applications streamline the inventory control process, saving on paperwork, promoting be ... Read More

  August 8, 2019     

How to Maintain Quality Data and Improve Your Inventory Control

One of a business’s most valuable assets is the inventory stock used to generate profits and revenue, however in today’s business environment quality data is now becoming as equally valuable. Quality data is the foundation of operations, inventory control and in driving vital financial decisions. Maintaining accurate, complete and consistent da ... Read More

  July 31, 2019     

Understanding How Aged Inventory Impacts Your Warehouse

Being able to understand the journey of your inventory stock and what it entails is a key part of inventory management. It’s also good to see if your inventory gets stuck on a part of its journey, Most often it pauses on the warehouse shelves. When you have a build-up of aged inventory in your […] ... Read More

  July 26, 2019     

3 Effective Ways to Minimise Negative Impacts of a Product Recall to Your Business

In certain industries, recall rates are high enough to be factored in as part of the business process. Recalls are particularly pertinent to automotive, food and medical industries costing companies billions of dollars. However, even the most diligent business operators are exposed to product recalls regardless of industry and whether you are a man ... Read More

  July 25, 2019     

A Peak Into the Deterministic Model of Inventory Control

The intention of inventory management is to be able to correlate the ordering quantities and frequency of products with demand so that there are always just enough products on hand, never too many and never too few. In the real world, it can be extremely difficult to predict these ordering parameters when there are uncertainties […] ... Read More

  July 16, 2019     

The Difficulties of Inventory Management and the Approach you Take

The difficulties of inventory management can be minimised simply by utilising purpose-built software, tried and true methods and adjusting one’s approach to it. In this article, we consider the difficulties of inventory management with particular attention to the reactive and proactive approaches to stock control. Reactive inventory control This ... Read More

  July 13, 2019