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Topic: inventory management system

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     

3 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     

3 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     

The 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     

Why 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     

Understanding 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     

3 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     

3 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     

Is 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     

Preventing 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     

6 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     

Look 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     

It’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     

A 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     

Helping 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     

Five 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     

Implement 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     

Inventory 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     

Just-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     

Inventory 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     

2 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     

Small-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