4 Ways to Rid Your Inventory of Dead Stock
Dead stock is the inventory stock that sits forgotten in the back shelves and far recesses of your warehouse. It is not likely to ever move from where it rests and slowly drains valuable resources. Every bit of warehouse space dedicated to dead stock is a lost opportunity, as you can’t keep more quantities of […] ... Read More
September 11, 2018 inventory control, inventory cost, inventory holding costsInventory Strategy: Where to Start
Most of the stress involved in good inventory practice can be resolved by identifying the right inventory management strategies for your business. ... Read More
May 9, 2017 inventory holding costs, risk-based approach, SaaS, software as a service, supply chainIn the Nick of Time: Just-in-Time Inventory
When a business holds excess inventory it ties up capital and incurs holding and carrying costs. Minimizing inventory waste should therefore be a key inventory management goal for an efficient business. Just-in-Time (JIT) inventory involves the ongoing minimization of inventory waste by only procuring inventory to meet immediate demand. It stands i ... Read More
October 31, 2016 inventory holding costs, inventory practices, JIT, just-in-time methodology, supply chain managementWhy Is Safety Stock Important?
Safety stock is a term commonly used to describe a certain amount of inventory kept by a business in reserve, to protect against unforeseen events such as spikes in demand or supply shortages. Most businesses employ some kind of minimum level of stock in this way. The principal goal of safety stock is to ensure that there is sufficient product a ... Read More
November 4, 2015 customer retention, demand forecasting, inventory holding costs, safety stock, supply chain management