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Topic: inventory management

Online Inventory Management: What it is and Why it’s Important

In this comprehensive guide to online inventory management, we’ll take a look at what it is and why your product-based business can’t do without it. We’ll also cover Online inventory management for manufacturers Online inventory management for retailers Online inventory management for wholesalers Online inventory management vs on- ... Read More

  April 12, 2021     

How to implement a supply chain management system

Successfully rolling out a supply chain management system can be an extraordinarily complex and stressful project – not to mention expensive. Or it can be surprisingly simple. The trick is to make good decisions about what you’re getting into ahead of time, so that the considerable benefits quickly outweigh the short term effort.  Here we’ll ... Read More

  March 1, 2021     

How to Calculate Inventory Turnover

Inventory management is a critical function of any business, with drastic implications on profit margins. Stock the right goods at the right levels and you can reduce carrying costs, mitigate the risk of shrinkage and still please customers. Get it wrong and those risks climb. Inventory turnover is a key formula that’s often discussed in [&hellip ... Read More

  January 6, 2021     

How to Calculate Average Inventory – The Complete Guide

Calculating average inventory is an extremely important part of your overall inventory strategy because it is the basis of knowing how much stock you should have on hand. In this article, we’ll explain the average inventory and show you how to calculate it with examples. We’ll also shed some light on Economic Order Quantity and [&hellip ... Read More

  December 10, 2020     

How to calculate safety stock – with formulas and examples

To calculate safety stock, work out your average daily use for a product and multiply it by its average lead time – how long it takes, in days, to arrive once you place an order. Then subtract this number from your maximum daily use times your maximum lead time. The result is the safety stock […] ... Read More

  November 27, 2020     

5 Tips to Improve Omnichannel Inventory Management

The world of commerce is an ever-changing one. Tech developments such as 5G and the Internet of Things are reshaping everyday life. And that includes how we all shop. Customer support is evolving with social media, artificial intelligence and unified communications. That’s a lot for any eCommerce business to keep up with. Some things, though, [&h ... Read More

  June 25, 2020     

Serial number tracking: Everything you need to know

Serial numbers or SNs have become ubiquitous in modern life: they’re on our phones, and in our software. They’re engraved on our cars and printed on the packages that are couriered to our doorsteps (and more importantly, on packages that never make it to doorsteps). They’re also a very useful part of modern inventory management. [… ... Read More

  June 18, 2020     

How To Start Your Brewery On The Path To Success

The craft beer industry has had an exciting ride, with a pre-Covid Compound Annual Growth Rate of 14.1% and a forecasted market valuation of US$107.85 billion by 2024, according to Business Wire. Knocked back just 7% in sales volumes during the height of 2020 lockdowns, according to Unleashed Software’s own data, the beer industry overall [&helli ... Read More

  May 20, 2020     

The Big B2B-B2C Pivot: How Your Stock Management Must Change

If you’re a B2B company and you’ve recently set up an online store to sell direct to consumers — or are even thinking about it — then good on you. There’s no denying there are still big challenges ahead though. As you’ve no doubt already realised you don’t just need to set up an online […] ... Read More

  April 23, 2020     

Identifying and Solving Cashflow Problems

Cashflow is the amount of cash and cash equivalents that move through your business within a given timeframe. Cashflow provides a good indication of the health of your business and is essential for measuring its liquidity. Many cashflow problems are temporary but even a profitable business can fail because of cashflow issues, particularly during ti ... Read More

  March 24, 2020     

Inventory Management Uncertainty? You’re Not The Only One

If you’re trying to get on top of your inventory management, but struggle with the many unknowns involved with inventory control, you’re not alone. It’s difficult to predict demand and how the economic environment will impact your business. It changes how you buy and reorder your stock. Deciding whether you want to reorder stock can [… ... Read More

  March 20, 2020     

The Complex Connection Between Cashflow and Inventory

Cashflow and inventory are intricately linked to each other. This is an important concept to understand for inventory managers and business owners alike, as a tell-tale sign of successful business is optimising cashflow and keeping your inventory to a safe minimum. Here we will consider the relationship between cashflow and inventory and how you mi ... Read More

  March 18, 2020     

What’s Hot in Retail: Conscious Consumerism

Organic, Vegan, Cruelty-free, Paraben-free, Fair Trade, Living Wages, No preservatives, 100% recycled materials, Keep Cup… and the list goes on. What do all these phrases and words have in common? They are consistently and repetitively heard on the lips of consumers, seen in advertising and actively guiding and emboldening the purchasing power of ... Read More

  March 13, 2020     

Reduce Your Inventory Costs With These Strategies

In any business model, cutting unnecessary costs wherever possible is always a good strategy to improve company profitability. One area in which business managers may like to remove unnecessary costs is inventory. Inventory can entail a raft of costs — known and sometimes unknown or hidden — which can really lock up a business’ cashflow. ... Read More

  March 12, 2020     

How Do Inventory Risks Impact Your Business?

Understanding the types of inventory risks that may be impacting your business will shed light on the best strategies to mitigate against these risks for your inventory control needs. Types of inventory risk As an owner or manager of a business, you need the right products in stock at the right time to be available […] ... Read More

  February 25, 2020     

How Does Inventory Management Affect Cashflow?

Good cashflow is key to the success of every business. Bad cashflow can have seriously negative effects on the overall productivity of the business, including a negative impact on the businesses bottom line. Growing businesses may not realise that good inventory management can actually be make-or-break for the quality of a company’s cashflow. In ... Read More

  January 31, 2020     

7 Types of Inventory Risk and Their Impact On Your Business

The main purpose of carrying inventory is to provide your customers with the goods and services they expect, when and how they expect them. Businesses make significant financial investment into inventory to facilitate the running of their business, for the purpose in which that business exists. Holding inventory, however, comes with numerous risks ... Read More

  January 27, 2020     

Is Your Business Experiencing Inventory Risk?

When you have a warehouse full of inventory stock, there is a lot to keep track of to make sure everything gets stored, accounted for and distributed properly. Having a healthy supply of inventory stock helps your business ensure it can meet customer demand. To keep up with demand, this often means you need a […] ... Read More

  January 22, 2020     

5 Strategies to Improve Cashflow for Manufacturers, Wholesalers and Retailers

Any business needs good cashflow to prosper because cashflow provides the funds necessary to pay bills, cover operating expenses, purchase inventory stock, pay employee wages, provide positive customer experiences and to invest back into the business. Cashflow represents the money available at any given time to keep a business running. It accounts ... Read More

  January 17, 2020     

How Inventory Control Can Benefit from Artificial Intelligence

Effective inventory control centres on the fine balance of holding enough inventory to ensure the business operates effectively while avoiding the overstocking that ties up valuable cashflow and leads to waste. Inventory control can benefit from artificial intelligence (AI) because AI provides powerful insights for companies, highlighting interesti ... Read More

  January 16, 2020     

Can AI Improve Your Inventory Management?

In our increasingly digital world, artificial intelligence (AI) is becoming part and parcel of our lives –and it is becoming particularly useful to business owners and inventory managers. In this article, we explore the relationship between AI and inventory management, and how AI can assist in inventory management. What is AI? AI is essentially a ... Read More

  January 9, 2020     

4 Causes of Inventory Discrepancy in Your Stocktaking (And What You Can Do About It)

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

  January 7, 2020