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Topic: inventory management

The Data Cleansing Process: Cleaning Up Bad Data

Many organisations invest considerable time and money to implement data collection systems but then fail to continuously monitor and manage the data they collect. Having considerable volumes of data can be counterproductive and does not mean that it is of relevance or value to your business. Reliable data provides better customer insight to ensure ... Read More

  July 2, 2019     

Telltale Signs You Are Using Bad Data

In this digital age where technology and software solutions gather and track billions of pieces of information, data is king. Data provides detailed information on which business can base decisions and it enables them to provide their customers with personalised tailored experiences. However, as organisations increase investment in the technology f ... Read More

  July 1, 2019     

The Important Relationship between Sales and Inventory Management

With the surge of eCommerce, retailers are facing extreme pressure to maintain profit margins. In fact, poor inventory management has been a leading factor in how many businesses collapse. Proper investment in inventory control is a necessity to avoid losses and to sustain profitability. This is where the relationship between sales and inventory co ... Read More

  June 28, 2019     

Inventory Reporting: Creating a Great Business Report

Great business reports need to be clear and well-structured. Before writing your report, you need to be clear on your brief, who the report is being written for and why. What action are you asking the reader to take? Is it decision-making based on the information presented, requesting an agreement to recommendations made or some […] ... Read More

  June 27, 2019     

Warehouse Optimisation: Improving Workflow Efficiency in Your Warehouse

Warehouse optimisation improves workflow efficiency and supports optimal inventory control, productivity and performance. By optimising the design and flow of your warehouse you can also significantly increase storage and improve order fulfilment rates. Improving workflow efficiency will help you achieve better order fulfilment. Reducing the time i ... Read More

  June 26, 2019     

Inventory Reconciliation: The Ins and Outs

If you’re in the business of selling goods, you’ll know how important good inventory management is for the success of your business. Failing to adequately manage inventory can have dire consequences for your business’s productivity and ultimately, profitability. Holding too much inventory, for instance, can lead to obsolete stock with valuabl ... Read More

  June 21, 2019     

Staying Ahead of the Inventory Game with Stock Control

Inventory management and stock control can be a very difficult game to play let alone to actually win. It can be the thing that saves you money, time and increases your ability to meet customer demand; or, it can be the reason for companies having frequent stock-outs, having to purchase more stock expediently and at […] ... Read More

  June 18, 2019     

Is Your Business Prepared to Handle a Product Recall?

If your business finds itself in a situation where you have to do a product recall, will you be able to manage it? Safety is at the top of consumer’s minds and it should be at yours. If you send a product to market that is deemed unsafe, you’ll need to be prepared and know […] ... Read More

  June 17, 2019     

Hogan’s Cider achieves business accuracy with Unleashed Software

Working with a variety of clients across different verticals means that you need to have a good understanding of what specific customers need. The team at Unleashed want to understand as much as possible about the processes and challenges our customers are facing so that we are able to deliver a better value system. This […] ... Read More

  June 14, 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     

Understanding More About the Probabilistic Inventory Model

Try saying ‘probabilistic’ three times fast. It’s a bit of a mouthful. However, it’s more than just a tongue-twister, it’s a great tool for predicting inventory needs. The root of probabilistic is probability and that’s exactly what the probabilistic model is based on — probability. So I bet you’re wondering how probability will hel ... Read More

  June 11, 2019     

The Importance of Accurate Stock Taking for Measuring Inventory Turnover

Inventory control is not just about what products you have on hand at any given time. Good inventory control should also consider how quickly that inventory stock moves into and out of your business. Sales revenue alone is not enough to measure the success of a business if expenses exceed your revenue, then the business […] ... Read More

  June 7, 2019     

How Sales Quoting Impacts Inventory Management

When you work in a retail environment, you’ll recognise that there’s a lot of little steps to take before you get to the final transaction. There can be quoting, sales orders and invoicing. This can also be coupled with invoice-waybill, receipts, and customs declarations. These terms are used to make it easier for companies to […] ... Read More

  June 3, 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     

The Probabilistic Model of Inventory Control Explained

Regardless of the industry, it is necessary for manufacturers and retailers to maintain the right quantities of inventory stock to ensure the smooth running of production operations and sales activities. Holding certain levels of inventory stock helps companies to avoid lost sales, will reduce ordering costs, help to maintain efficient production r ... Read More

  May 30, 2019     

The Ins and Outs of Stock Control: The reactive and proactive approach

Managing stock can be a complicated task, especially as your business grows. Many inventory managers and business owners fall into the habit of reactive stock control, where stock issues are dealt with as they arise. However, this type of stock control is largely ineffective and, sometimes, may be counter-productive. Business owners should be worki ... Read More

  May 29, 2019     

Inventory Control: Deterministic vs. Probabilistic Models

Different business owners and inventory managers will have varied approaches to inventory control. A business owners’ approach to inventory management will determine the company’s inventory levels, which can be make-or-break for any business selling goods. Getting inventory to an optimum level so that demand is consistently met by supply – ... Read More

  May 27, 2019     

4 Inventory Management Techniques to Simplify the Life of an Online Retailer

The world of eCommerce is expanding at a rapid rate with more and more opportunities opening up for online retailers. It really is an exciting time, providing larger audiences with greater geographical diversity equating to better selling opportunities and higher profits. However, all this promise can be undone very quickly without the appropriate ... Read More

  May 23, 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     

How Stocktaking Can Shed Light on Inventory Turnover

An accurate stock take ensures that the inventory turnover ratio is going to be a reliable tool. If the numbers are right, business owners can plan for the future. It is a powerful part of inventory management and allows the business to make smarter decisions on what parts of the inventory stock they should invest […] ... Read More

  May 21, 2019     

Are You Proactively or Reactively Controlling Your Inventory Stock?

As a business owner, it’s easy to feel like you’re being pulled in all different directions across your business. It’s an around-the-clock job and there are always decisions that need to be made. Inventory stock is one of those fundamental components that a business owner needs to ensure is getting looked after. However, the phrase […] ... Read More

  May 20, 2019     

What is a Deterministic Model of Inventory?

It is so important to maintain the optimum level of inventory, but sometimes it is easier said than done. The good news is that there are proven models and methods that have been developed for determining the optimum level of inventory stock for your business. Models can only help with predictions and forecasts, and they […] ... Read More

  May 18, 2019