How To Decrease Your Purchase Order Cycle Time
If you’re looking to make your business more efficient, you might need to revamp some processes. Of course, there are big processes in a business that take lots of time and effort to overhaul. Rather, how about spending some time focusing on some of the little processes such as reducing your purchase order cycle time. […] ... Read More
September 6, 2019 inventory management system, purchase order, supplier management3 Common Methods for Analysing Inventory on the Balance Sheet
Business owners need to take care when analysing information displayed in the company’s balance sheets. A statement of the assets, liabilities, and capital of the business, the understanding and interpretation of the balance sheet can have a huge impact on the direction of inventory management and the overall success of the business. It is extrem ... Read More
August 13, 2019 inventory balance, inventory levels, inventory management, inventory management system3 Effective Ways to Minimise Negative Impacts of a Product Recall to Your Business
In certain industries, recall rates are high enough to be factored in as part of the business process. Recalls are particularly pertinent to automotive, food and medical industries costing companies billions of dollars. However, even the most diligent business operators are exposed to product recalls regardless of industry and whether you are a man ... Read More
July 25, 2019 batch tracking, inventory control, inventory management, inventory management system, inventory trackingThe Connection Between Sales and Inventory Management
When filling your warehouse with inventory stock, how do you know you’ve got the right amount? Do you have enough to keep up with a spike in demand? Did you order too much and now your inventory stock is parked on the shelves collecting dust? Manufacturing companies use a variety of tactics to not only […] ... Read More
June 13, 2019 inventory management, inventory management systemWhy Inventory Control Doesn’t Have to be Difficult
If you have ever caught yourself asking why inventory management is so difficult, you are certainly not alone. Inventory management can give businesses a real headache and be viewed as overwhelmingly hard if not taken control of early on. Major reasons why inventory management can be challenging is because it’s never-ending, complex and it takes ... Read More
June 1, 2019 inventory control, inventory management, inventory management systemUnderstanding Inventory Reconciliation
Keeping tabs on everything that’s happening in your warehouse takes time. It can be a pretty big task, but inventory management is necessary to keep a company afloat. One piece of the inventory management puzzle is inventory reconciliation. It’s an integral part of checks and balances in the warehouse. Let’s delve into the ins and […] ... Read More
May 22, 2019 inventory management, inventory management system, stock control3 Inventory Management Bottlenecks That Stifle Growth
Many expanding businesses encounter productivity bottlenecks that stifle potential growth. Typical bottlenecks occur when an inventory management system fails to meet a business’ growing demands. Bottlenecks should be treated as temporary disruptions that can and should be fixed. Examples include an unexpected material shortage, an absent operato ... Read More
April 10, 2019 business efficiency, business growth, inventory management, inventory management system3 Smart Tactics For Achieving Multichannel Retail Success
Consumers today shop across multiple channels switching between online and offline, to research and buy products they want, when they want them. As a result, retailers are now implementing multichannel selling strategies to keep abreast of customer expectations. However, it is important not to confuse omnichannel with multichannel because the two s ... Read More
April 5, 2019 B2C, inventory management system, multi-channel, retailIs Your Inventory Management System Saving You Time?
As a business owner, it’s understandable that you want to keep costs low. After all, low costs and low overhead means more at the bottom line for the business, right? Essentially yes, but what if those low-cost measures are costing you more in lost opportunities? Basically, opportunity cost is the alternative cost or value of […] ... Read More
March 30, 2019 cloud-based inventory, inventory management, inventory management system, stock takePreventing 3 Common Inventory Control Issues
For large corporations or SMEs, correctly managing your inventory stock is imperative to achieving an efficient, sustainable and profitable business. Inventory control, however, brings with it many issues but with the right tools, some of the common ones are easily managed. Problems include product stockouts that result in lost sales opportunities ... Read More
March 26, 2019 inventory control, inventory management, inventory management software, inventory management system, inventory stock6 Signs Your Business is Achieving Efficient Inventory Management
Did you know that better inventory management and control is one of the biggest parts of running a successful business and yet it is one that is often put on the back burner for misconceptions of that it is not a major profitable pursuit? Business owners know that holding inventory stock ties up a lot […] ... Read More
March 19, 2019 inventory, inventory control, inventory management, inventory management software, inventory management systemLook to Modernisation to Give Your Inventory Management a Make-Over
If you’re looking to make improvements to your inventory management, but you’re not sure where to start, we’ve got a few suggestions to help you out. When you take a step back and look at your processes, your warehouse, and your staff, you will undoubtedly see methods that can be better. It’s one thing to […] ... Read More
February 27, 2019 inventory management, inventory management software, inventory management systemIt’s Time to Clean Out Your Inventory Stock!
Having too much inventory stock on hand costs your business money that could be put to better use. Holding too much inventory stock raises your storage costs and as a result the cost of goods sold. Centralised inventory management system Most businesses will experience peaks and dips. In the relatively calmer periods of business, why […] ... Read More
June 4, 2018 excess inventory, inventory control, inventory management system, inventory stockA snapshot of manufacturing in New Zealand in 2017
Sales, seasonally adjusted for the March 2017 quarter compared with the December 2016 quarter, show that total manufacturing in New Zealand fell 0.3 percent; excluding meat and dairy product manufacturing, sales rose 1.7 percent. Meat and dairy product manufacturing fell 7.8 percent. In light of this, the value of total manufacturing in New Zealand ... Read More
September 21, 2017 inventory management system, lean manufacturing, manufacturing, New Zealand, NZHelping Retailers with Cloud Inventory Management
When running a retail business, one of the most important skills you need is great customer service. Another key ability, is the ability to track merchandise and efficiently control your inventory which in turn helps to facilitate great customer service. It therefore stands to reason that having the right inventory software is worth the investment, ... Read More
August 3, 2017 cloud-based inventory, cloud-based software, inventory management system, retailFive Measures to Increase Efficiency and Reduce Cost in Your Business
There are several cost-reducing measures that your business can adopt today to increase your business’ bottom line. The important cost-reducing measures at the forefront of business operations that can directly impact your business’ costs are negotiating new contracts, taking advantage of opportunities by looking at alternative suppliers, havin ... Read More
July 18, 2017 business efficiency, business management, efficient inventory management, inventory management system, suppliersImplement Change Management with New Software
Change is inevitable but not always popular. When initiating any change within your organisation it is usually prudent to expect a certain level of resistance. The introduction of new systems and technology into your business is no different. How you manage the change is crucial to the success of the new system implementation. When you […] ... Read More
July 14, 2017 business planning, change management, change planning, inventory management software, inventory management systemInventory management overview: what is it and what are some of the benefits?
Inventory management may be a term you have heard thrown around business journals, although you may have never had a good understanding of how to achieve it. Inventory management is basically just that, managing inventory and ensuring that the balance of inventory coming in to inventory being manufactured and shipped out is as close as […] ... Read More
July 13, 2017 excess stock, inventory management, inventory management software, inventory management system, stock forecastingJust-in-Time Inventory: Streamlined Inventory Management
Just-in-Time inventory, as the name implies, is where products for manufacture are purchased shortly before they are needed so that they arrive ‘just-in-time’. There are several advantages associated with this method of inventory management as well as a few notable disadvantages. We will look as some of these as well as some things that should ... Read More
July 11, 2017 efficient inventory management, inventory management, inventory management software, inventory management system, inventory methodology, JIT, just in time inventoryInventory Management: Five Key Tips for Distributors
Distributors entire business revolves around inventory. Due to the nature of the distribution model where distributors profit by selling inventory to their customers, failing to manage inventory well can be a major liability for distributors. From tasks including inventory receiving, replenishment, inventory stocking, compliance labelling, processi ... Read More
July 10, 2017 automated inventory control, distribution, distributors, inventory automation, inventory management, inventory management system2 Effective Ways to Grow Your SMEs Globally
With ever-growing globalization of the market place, the need to successfully export goods and services overseas is significantly important when it comes to growing your business. With the help of the internet the challenges facing small to medium sized enterprises (SMEs) can be made easier when considering exporting. Here, we will look at two effe ... Read More
June 23, 2017 business success, globalization, inventory management system, SMEsSmall-Man-Syndrome: How SMEs can be successful on a global stage
Small and Medium-sized Enterprises (SME) are companies that are independently owned and managed with less than 250 employees in their ranks and bringing in less than 50 million euros per year. The fact is, these companies make up 95% of the OECD (Organisation for Economic Co-operation and Development) and in most countries, they provide 60-70% [&he ... Read More
June 10, 2017 cloud computing, globalization, inventory management software, inventory management system, small businesses, SMEs