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Topic: inventory management

How Can Distributors Model Amazon’s Online Inventory Management?

The past few years has seen a drastic improvement on delivery times and customer service, mainly thanks to the eCommerce giant Amazon. Delivering within an hour and stocking anything a customer could possibly want is both a dream and a nightmare for retailers or distributors, with the daunting logistical problems challenging more traditional retail ... Read More

  September 8, 2018     

Stock Control and Fixed Asset Management: What’s the Difference?

Keeping track of inventory and fixed assets is crucial when calculating business success. Not only is inventory valuable because of its shelf worth, but your fixed assets enable your business to run. Knowing the difference between the two is important for both accounting and stock control purposes. What are fixed assets? A fixed asset is […] ... Read More

  September 7, 2018     

5 Key Inventory Management Reports for Business Owners

To successfully grow your business, it is essential to manage your inventory stock as accurately and optimally as possible. One way to do this is by using and understanding the right inventory management reports. Accurate, up-to-date and relevant inventory management reports will allow you to discover trends, identify weaknesses and strengths, and ... Read More

  September 6, 2018     

World Wide Web Wednesday #48

Whether you need some lunchtime reads or something to get you past hump day, we’ve curated five links you’ll enjoy! Amazon (briefly) reaches a market value of more than $1 trillion Amazon shares rose to a high of $2050.50 before slipping back. According to Neil Saunders, managing director of GlobalData Retail, “to reach a market […] ... Read More

  September 5, 2018     

How Effective Inventory Control Helps Product Returns Management

Effective inventory control and product return management strategies can result in increased revenues, lower costs, improved profitability and enhanced levels of customer service. Product returns are annoying for customers and sellers. It’s often been seen as a nuisance as it entails a hefty cost and is an area of customer dissatisfaction. Ma ... Read More

  September 5, 2018     

What You Need to Know About the Role of Inventory in Your Supply Chain

The supply chain is all about the process that gets products from their raw form all the way to their completed form and into the hands of customers. Involved in this process is a myriad of activities including production, transportation, storage, information transfer, analysis and sales. Given that this whole process revolves around the product, [ ... Read More

  September 4, 2018     

The Best Ways to Manage Dead Stock Inventory

With a big warehouse, managing inventory stock can be a challenge. It is a delicate balance to optimise your inventory stock if your warehouse stocks too little, you could lose customers, but if you stock too much, you might end up with dead stock. Dead stock can pile up in a warehouse. Before you know […] ... Read More

  September 3, 2018     

Understanding Dead Stock Inventory

When inventory management effort goes into moving products off the shelves and optimising turnover rates, it’s frustrating when some merchandise does not sell. These products lurking unsold on your warehouse shelves are considered dead stock. It can be hard to get rid of dead stock and it can put a financial strain on your business. […] ... Read More

  September 3, 2018     

Inventory Management Lessons to Take Away from Amazon

As a leading eCommerce giant, Amazon continues to hold a dominant position as one of the biggest online retailers in the market. Their quick delivery services and a wide variety of products at competitive prices keeps them ahead in the eCommerce game. Due to their sheer scale, they are able to meet the high demands […] ... Read More

  September 3, 2018     

The Best Reports for Inventory Management

It is a journey to achieve that delicate balance of inventory and manage it properly so your business sees the optimal benefits. However, businesses both big and small will all experience a variety of factors affecting inventory management. They always need to look at stock levels and decide if they need more or if it […] ... Read More

  August 30, 2018     

World Wide Web Wednesday #47

Whether you need some lunchtime reads or something to get you past hump day, we’ve curated five links you’ll enjoy! Toyota teams up with Uber Toyota is set to invest US$500m in Uber and expand a partnership to jointly develop autonomous cars. This partnership is viewed as a way for both firms to catch up […] ... Read More

  August 29, 2018     

Product Recalls Happen to Everyone, How Can Your Business Prepare?

As traceability initiatives take flight and regulators sharpen their teeth, product recalls are becoming an increasingly regular part of business for manufacturers, wholesalers and distributors. A poorly managed product recall can be a major burden for a small or medium sized business and can create outsized reputational risk for a business of any ... Read More

  August 27, 2018     

Reduce Inventory Waste with a Lean Operation

As the world shifts towards a sustainably viable means of producing and distributing, companies dealing with inventory are increasingly pressured to limit their inventory waste. Creating a more efficient manufacturing and distribution process doesn’t just benefit the environment; keeping lost profit to a minimum and improving business image are b ... Read More

  August 24, 2018     

3 Tips for Managing eCommerce Returns

For an eCommerce retailer, selling products online has a wide array of benefits. Without a brick-and-mortar storefront, an eCommerce retailer can experience decreased overhead and can optimise inventory stock with just-in-time manufacturing. Warehouse space might be easier to manage than a fully furnished storefront as well. eCommerce also allows y ... Read More

  August 23, 2018     

World Wide Web Wednesday #46

Whether you need some lunch time reads or something to get you past hump day, we’ve curated five links you’ll enjoy! Alibaba’s warning to Australian rivals Alibaba has said that Australia is now their third largest overseas market. In its home market, Alibaba is creating a variety of new shopping experiences that blend the online […] ... Read More

  August 22, 2018     

The Important Role of Inventory Management in the Supply Chain

Managing good customer and supplier relationships is a crucial aspect of effectively managing supply chains. In many cases, this collaborative relationship approach has been considered the essence of supply chain management. At the centre of these supply chain relationships, particularly those involving product flows, is inventory management. Argua ... Read More

  August 21, 2018     

5 Major Types of Inventory Waste Your Business Needs to Know to Cut Costs

Inventory waste is considered one of the seven major wastes in lean manufacturing and does not just encompass damaged or obsolete inventory stock. Types of inventory waste can be defined as any production activity that uses resources but does not add any value for the customer. As a consequence, these wastes add to the cost […] ... Read More

  August 21, 2018     

5 Essential Reports for Effective Stock Control

Whether you’re in manufacturing, distribution or wholesale, knowing your inventory position inside out is almost a prerequisite for an efficient, scalable operation. Despite its importance to ensure the business is well-placed to grow, many businesses (SMEs in particular) don’t have the necessary inventory data to optimise inventory throughout ... Read More

  August 20, 2018     

A Closer Look at Optimising Your eCommerce Inventory Stock

Once your eCommerce platform is up and running, you should be able to celebrate all of the hard work and decisions you made to get there, right? Well, it is true that an online eCommerce business can take a while to get off the ground, but once it’s up you must grow it and optimise […] ... Read More

  August 17, 2018     

World Wide Web Wednesday #45

Whether you need some lunch time reads or something to get you past hump day, we’ve curated five links you’ll enjoy! Emotional intelligence is crucial for success Even if you have all the right knowledge to succeed in your job, lacking EQ can hamper your efforts to truly succeed in the workplace. Think EQ isn’t […] ... Read More

  August 15, 2018     

Incorporating eCommerce into Inventory Management

Using an eCommerce platform to sell your product is an effective way to reach more customers. It can help grow the scope of your business and provide momentum into new markets. An essential part of a successful eCommerce platform is supporting it with an online inventory management system. Keeping track of stock With online inventory […] ... Read More

  August 13, 2018     

The Important Players in the Supply Chain

The role of inventory in the supply chain is significant because the entire function of a supply chain is to move products and supplies, from one place to another while adhering to specific time frames. Supply chains consist of more than just a few functional teams. They encompass the areas of purchasing, manufacturing, logistics, marketing, [&hell ... Read More

  August 11, 2018