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Topic: inventory control

How to Optimise Inventory Control

Inventory optimisation makes sound business sense. Applying best practice approaches to inventory control will improve competitive advantage and profitability. The primary goal of optimisation is to get the balance right between supply and demand. Having the right stock on-hand to service consumer demand while trying to reduce inventory carrying co ... Read More

  January 9, 2018     

Are You Using the Right Inventory Control System?

As an inventory stock manager it is significantly important to be able to develop an inventory stock control system to manage customer demand. This is because that demand for the product will control inventory costs, carrying costs, ordering costs and storage costs. Inventory stock control systems can be categorised as push or pull models. Knowing ... Read More

  January 2, 2018     

What it Means to Optimise Inventory Control

Effective inventory control starts with knowing exactly what stock you have and expertly managing that stock to achieve the greatest benefit and financial return for your business. Inventory optimisation can have a significant impact on supply chain performance, resulting in the reduction of capital tied up in inventory. In addition, optimising you ... Read More

  December 30, 2017     

Inventory Control: Balancing Inventory and Demand

Having enough inventory should be one of the biggest priorities for any stock-based business. Running short means missing sales and letting down customers, while carrying too much involves tying up lots of capital to buy and store inventory that your business doesn’t actually need. Inventory managers have approached this balancing issue in two di ... Read More

  December 27, 2017     

Highlights of Inventory Management Software

Inventory management software is changing the way businesses operate. It’s a modernised system, bringing benefits and positive results to companies big and small. Like all technology, this software is constantly evolving. Part of that evolution means it is becoming more and more adaptable to a variety of business scenarios. Inventory management s ... Read More

  December 26, 2017     

Learning the ABCs of Inventory Management

Inventory management is of the utmost importance to any company as unhealthy inventory stock levels can quickly spell disaster regarding the ability to supply and the bottom line. Gaining inventory control can be difficult at the best of times, however there are some tried and true methods which can make the road to inventory control […] ... Read More

  December 25, 2017     

How to Best Support Your Mobile Sales Team

As rewarding as closing is, managing a high performing mobile sales team is a significant challenge. One of the biggest challenges that sales managers face is providing their sales teams with all the information they need while out in the field. Without clear targets and access to inventory control information, mobile sales teams often fail [&helli ... Read More

  December 23, 2017     

ABC Analysis: Focusing on the Critical Few

In most stock-based businesses, the Pareto Principle, often known as the 80-20 rule, holds true for most aspects of inventory management. Roughly 80% of the value of a business’ inventory is usually tied up in about 20% of its product lines. This implies that managing the top 20% of a business’ inventory is critically important. […] ... Read More

  December 15, 2017     

What Barcoding Means for Distribution

Barcoding technology has revolutionised inventory control and has played an important role in streamlining the distribution industry. From receipt to dispatch, distributors will often process hundreds, if not thousands of stock keeping units per day. Hand-held mobile devices improve picking accuracy by 99.9 percent and efficiency by up to 15 percen ... Read More

  December 12, 2017     

Holiday Season Challenges to Inventory Management

The holiday season is a special time of year for many of us. However, it can also be a challenging time, especially for retail. Whether you’re a manufacturer making the goods, a supplier delivering the goods, a retailer selling the goods, or an employee involved along the way, there can be difficulties with inventory management […] ... Read More

  December 11, 2017     

Push or Pull: Choosing Your Inventory Control System

Inventory control is exceedingly important for your company though achieving it can be very tricky. Accurate inventory management is largely based on the inventory system implemented and the nature of the company and its products. Here we delve into the differences between push versus pull inventory control systems and which would be best suited fo ... Read More

  December 9, 2017     

Automation: Changing the Face of Inventory Management

Inventory control and supply chain management has evolved on a near continuous basis since the 1980s. Although the tools and technology that back the supply chain have constantly changed, the aim of supply chain planning has remained constant: to get the right product to customers in a timely manner, and to safeguard against stock outs […] ... Read More

  December 8, 2017     

All About Consignment Sales

Consignment sales are a very interesting approach to selling products. Like any sales strategy there are always advantages and disadvantages to any approach. Consignment is effectively when a supplier stocks their goods in another retail store or outlet. The catch is that the store or outlet has not yet purchased the inventory. In the consignment [ ... Read More

  December 7, 2017     

Dealing with Seasonality: A Guide for Food Manufacturers

At first blush, many food manufacturers’ business plans seem straightforward. Food manufacturers choose a mix of innovative food products, optimise costs and plan to sell as many units as possible. Unfortunately, the market for processed food is highly dynamic, so food producers are unlikely to produce consistent volumes of food products in fixed ... Read More

  December 7, 2017     

The Ins and Outs of Barcoding

Barcoding software and hardware are essential tools for accurate stock taking in business. These tools give you easy access to a centralised record of information pertaining to your company’s stock, including pricing, availability, stock levels and product tracking. In general, barcoding systems are essential for running a successful business, co ... Read More

  November 25, 2017     

Understanding What Is Inventory Control

Inventory control regulates the stock that is already in your warehouse. This involves knowing what is in stock, where is it located in the warehouse, and the condition it is in. It is also about ensuring your warehouse is set up in a way that allows warehouse staff to quickly pick and pack products to […] ... Read More

  November 24, 2017     

Four Tips to Optimise Inventory Control

Inventory management can be a puzzle for many businesses, particularly those with large and varied stock catalogues. Keeping track of thousands of SKUs can be tricky as there are simply so many moving parts. In a stock-based business, inventory is probably one of your business’ biggest assets, so it’s important to manage inventory as ef ... Read More

  November 16, 2017     

Inventory Control: The Ins and Outs of Optimisation

Businesses are always looking for effective ways to manage the supply-demand balance when it comes to inventory control. The primary way to do this is through what is known as inventory optimisation. While there is some confusion as to what the term includes, inventory optimisation is integral for any business’ inventory control processes. In ... Read More

  November 15, 2017     

What Is the Difference Between Tiered and Volume Pricing?

Tiered and volume pricing are both great ways to target an audience and encourage consumers to spend. However, the terms are often used interchangeably, whereas in reality they are very different. It’s important to consider pricing as that will play a part in your customers’ overall satisfaction. This article examines each pricing strat ... Read More

  November 6, 2017     

Inventory control and inventory management – two different things?

Inventory control and inventory management are often used interchangeably. Though they have similar scopes, there are some important distinctions to make. Inventory control is a method of regulating the inventory you have on hand in your warehouse. On the other hand, inventory management is the activity of forecasting and replenishing inventory, fo ... Read More

  October 30, 2017     

A guide to optimising your supply chain lead time

Inventory control is all about ensuring there is always enough inventory stock to supply customers with what they need when they need it. It also involves reducing the volume of any inventory stock kept in storage unsold, as this can be at risk of becoming obsolete or expired. When inventory stock is under control, these […] ... Read More

  October 30, 2017     

Discounts and inventory control

Trade and cash discounts are essential tools that you can implement to help boost sales and increase profitability. Such discounts are also an essential component for good inventory control, and can be used when it is necessary to sell large amounts at once or to reduce inventory in a short time frame. There are key […] ... Read More

  October 27, 2017