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 inventory control, inventory stock, inventory valuationShould 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 average landed cost, business costs, inventory control, inventory management, inventory valuationUsing 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 abc categorisation, inventory classification, inventory control, inventory managementOvercoming 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 B2B, inventory control, order fulfillment, supply chainInventory 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 inventory control, inventory management, inventory management software, supply chainHow 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 excess inventory, inventory control, inventory levels, inventory management softwareAs 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 abc categorisation, inventory control, inventory managementOptimising 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 inventory control, multi-channelOptimising 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 inventory control, inventory management, multi-channel, safety stockThe 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 inventory accounting, inventory control, inventory reportingWatch 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 control, online inventory management, stock controlHow 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 customer satisfaction, inventory controlControl 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 FIFO, inventory control, inventory reportingThe 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 cloud-based software, inventory control, SMEEnsuring 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 eCommerce, GB, inventory control, retail, SMEImprove 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 inventory control, order fulfillmentThe 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 inventory control, SME5 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 eCommerce, inventory control, inventory management, order fulfillmentIntegrated 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 accounting, integrated software, integration, inventory control, inventory managementRetailers 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 inventory control, order fulfillment