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Topic: inventory management

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     

The inventory cost of purchasing an item – there’s more than meets the eye

When running a company, it is imperative to understand every reason for outgoing revenue and to try and find methods to reduce these so that the bottom line does not suffer. One such area that can sometimes take people by surprise is all the hidden costs associated with purchasing stock. They are not so much […] ... Read More

  July 7, 2017     

Vendella International improves inventory management with Unleashed

Upon stepping into your hotel room, you’re greeted by a plush bed with crisp bedsheets and a lush duvet. But where do all the contents of your hotel come from? Luke Brodie, manager of Vendella International says, “we provide anything you find in the room.” After spotting a gap in the tourism sector, Luke established […] ... Read More

  July 7, 2017     

Use Barcodes to Grow Your Small Business

Time is at a premium in a growing business, so it pays to operate as efficiently as possible. This extends to inventory management, which can often absorb inordinate amounts of time. Barcodes are an easy way to improve your inventory management function; they improve the accuracy of your inventory records, allow for real-time updates and, [… ... Read More

  July 6, 2017     

Conducting a Successful Stocktake

A stocktake is a record of the inventory a business has on hand, which is commonly done at the end of the year. However, some businesses may perform stocktakes more regularly. An accurate stocktake is essential for making informed business decisions relating to inventory management and control. A successful stocktake gives you valuable insight into ... Read More

  July 1, 2017     

5 Inventory Management Strategies to Boost Results

Inventory is one of the key factors that can be managed to improve business performance. The strategies in which a company manages its inventory has major consequences to performance. There is a real need and a shift to more efficient inventory management and software can help achieve this. In particular, software that oversees inventory management ... Read More

  June 27, 2017     

5 key ways to manage inventory management supply chain risks

It is imperative to understand the interconnected ways of inventory management supply chain risks so executives can tailor balanced and effective risk reduction inventory strategies for their businesses. Inventory management is crucial to the heart of a business’s profitability, and as such supply chain risk management is of extreme importance. T ... Read More

  June 26, 2017     

A Quick Checklist: Is Your Inventory Healthy?

Having good inventory management is a key factor to any successful company. Furthermore, ensuring you have the right levels of inventory is vital to any profitable company as it helps control costs, and in addition it acts as a bench mark to assessing your company’s overall health. Below we pose five questions to assess whether […] ... Read More

  June 22, 2017     

Why accurate inventory management is important

Having accurate inventory management is an important investment for any company. This can help with efficiency and in turn create greater customer satisfaction, which is beneficial to your bottom line. We will be looking at five major reasons and benefits of why you need accurate inventory management today and why you should be taking control [&hel ... Read More

  June 21, 2017     

Five ways to improve your inventory management today

Many business owners know that ordering the right levels of inventory is crucial as it controls costs in addition to acting as a blueprint for a business’s overall health. Here we look at five ways we can help improve your inventory management today. Break down your inventory into key categories Breaking down your inventory into […] ... Read More

  June 20, 2017     

It’s time for inventory management automation

There are two ways a business can track and manage inventory. There’s the hard way or there’s the easy way. Taking the hard way can be time-consuming, tedious and inefficient while the easier option, automation, will free-up personnel to better utilize their skills and capabilities performing more relevant tasks. Automation, what is it really? ... Read More

  June 19, 2017     

Four Simple Reasons Why Inventory Control Systems are Important

Inventory control systems are a collection of hardware and software-based tools, such as barcode scanners and inventory tracking programmes, which help businesses to keep track of their stock. These systems give companies who sell quantifiable goods an accurate means of overseeing their stock levels, sales, losses and much more. Inventory control s ... Read More

  June 15, 2017     

Consider these aspects of inventory management

In most businesses but particularly in retail, having the right amount of stock on hand that is in optimum condition and within the expiry date, is the key to instigating sales and creating a reliable customer experience. To do this is no easy feat and there are often a lot of managerial practices that must […] ... Read More

  June 8, 2017     

Five Typical Inventory Management Mistakes You Should Avoid

Inventory can pose a challenge for any business, let alone a business without a dedicated inventory management function. While some aspects of inventory management can be challenging to master, the basics are easy to get right. In this article, we discuss some of the most common inventory mistakes for growing businesses to avoid. Carrying too [&hel ... Read More

  June 7, 2017     

Inventory Turnover Ratio: What is it telling you?

The inventory turnover ratio is the number of times a business sells and replaces inventory within a specified period. In effect, the inventory turnover ratio determines how long a company takes to sell its on-hand inventory and helps a business determine how well they are performing. Calculating Inventory Turnover The first task in establishing yo ... Read More

  June 6, 2017     

Two Approaches to Tracking Inventory

Accurate inventory control is a serious business and organizations are increasingly recognizing the importance of implementing sound inventory management practices within their organizations. How then do we go about tracking inventory? There are two approaches, the traditional method of manually tracking and recording the flow of goods into and out ... Read More

  June 2, 2017     

5 Reasons To Make Barcodes a Priority

If your business relies on manual stock handling processes, then chances are that you are not managing your inventory as effectively as possible. Manual processes cost a lot of time and can often increase error rates in an organization’s inventory data. While some forms of automation can be costly to set up, barcode tracking is […] ... Read More

  June 1, 2017     

Six Common Barcodes Explained

Barcode symbols are used to encode information such as product numbers, serial numbers and batch numbers. Barcodes can be scanned electronically using laser or camera-based technology that allows goods to be tracked throughout the supply chain. There are over 100 various barcode symbols which are typically either one or two-dimensional. The linear, ... Read More

  May 31, 2017     

Getting Started with Inventory Barcoding

Barcodes are easy to implement, and they have the potential to take a lot of pain out of the inventory management process. Not only do barcodes speed up data entry, they also increase the accuracy of your inventory records and make real-time inventory control possible. Here’s how to set up barcoding for inventory management. Generating […] ... Read More

  May 30, 2017     

Do you know the basics of inventory management?

Inventory is a vital part of any retail or manufacturing business, yet inventory management often doesn’t get the attention it deserves. If you think about it, even in our homes there is some semblance of order to how we store our groceries. Instinctively undertaking basic inventory management, we generally place tea, coffee and sugar together [& ... Read More

  May 25, 2017     

A few how-to’s of SaaS for a small business

It is difficult for small businesses to compete with large companies that monopolize the industry. But it seems that, currently, we are coming back to celebrating the niche, the small and the boutique, such as with craft beer or handmade clothing. One tool for the computing side of the small business, which makes it easier […] ... Read More

  May 20, 2017