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Topic: inventory control

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     

12 Reasons Why You Have Stocktake Discrepancies

Stocktake discrepancies happen when the actual quantity of inventory stock on hand is different from the quantity recorded in an inventory system for any particular item. Unfortunately, this is a real issue every business tasked with maintaining and controlling inventory is faced with. If not avoided or detected, discrepancies will bring about vari ... Read More

  October 30, 2018     

Outsourcing Order Fulfilment? Avoid These Common Mistakes

Businesses of all sizes use order fulfilment services, either in-house or outsourced, to get their products from their production facilities to the end buyer, whether this is a business or consumer. Inventory control is one of the main factors which leads to errors in the order fulfilment process. This article will explore mistakes that businesses ... Read More

  October 30, 2018     

3 Mistakes to Avoid When Outsourcing Order Fulfilment Processes

Ensuring your order fulfilment processes are up to scratch can be a challenging task under the simplest of circumstances, but especially when outsourcing parts or all of the process to an external party. In this article, we examine three common mistakes business owners make when outsourcing the order fulfilment process and provide some insight into ... Read More

  October 29, 2018     

Optimise Inventory Control with an Effective Bill of Materials

A Bill of Materials (BoM) is a comprehensive, hierarchical list of the quantities of components, ingredients or materials needed to make a finished product. It is the blueprint for the product and essential to all aspects of its life cycle. A BoM can range from small assemblies to complete machinery, possibly consisting of many smaller […] ... Read More

  October 27, 2018     

Greater Inventory Control Begins with Demand Forecasting

Effective inventory control Maintaining inventory control is a mammoth task and healthy inventory levels are a necessary part of matching inventory stock with anticipated demand. Effective inventory control can be achieved by consolidating inventory processes into a single integrated system. A great inventory management system will be transparent a ... Read More

  October 27, 2018     

Avoid These Common Causes of Inventory Discrepancies

Optimum inventory control requires specific job skills and a certain amount of strategic planning. A good understanding of common mistakes in inventory management will help avoid inventory discrepancies, reduce costs and improve responsiveness to fluctuating consumer demand. Responsibility for inventory management should be assigned to a person emp ... Read More

  October 26, 2018     

Accounting for Inventory: The Impact of Inventory Discrepancies on Financial Reporting

Proper inventory valuation is important when accounting for inventory through financial reporting. If inventory is not correctly valued inventory discrepancies will impact financial statements such as balance sheets, income statements and statements of retained earnings. When accounting for inventory the recorded amount is the total quantity and va ... Read More

  October 25, 2018     

Causes of Inventory Discrepancy in Your Stocktaking

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

  October 25, 2018     

The Impacts of Inventory Stock Discrepancies in Accounting

When the number of stock recorded in your business’ records do not match up to your physical number of stock counted, this results in stock discrepancies. This is one of the main reasons stocktake is so important as it reveals if any such discrepancies exist. Discrepancies, if not prevented or detected, can bring about serious […] ... Read More

  October 23, 2018