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Topic: inventory management

These 4 Key Elements of a Multichannel Strategy Can Impact Your Supply Chain

Going online does not just mean using desktops and laptops anymore — it is anytime, anywhere connectivity afforded by tablets, smartphones and smartwatches. Our more connected world has unsurprisingly changed the way we shop. As a direct result of exponential growth in online spaces and with numerous ways to purchase nowadays, retailers are takin ... Read More

  May 17, 2019     

How You Can Optimise Your Inventory to Save Money

The phrase ‘flushing money down the drain’ can feel like a reality if your inventory isn’t managed properly. Managing inventory can be daunting, but the feeling of losing money because of inventory can be even worse. Mistakes from a stock take can be costly: dead stock lying around the warehouse can take up storage costs […] ... Read More

  May 13, 2019     

Best Practice Inventory Control Techniques for Online Retailers

Successful inventory control enables retailers to meet customer demand by avoiding stockouts and reducing the risk of overstocking to free-up cashflow. It is crucial in the world of eCommerce, for even the smallest online retailer to have effective inventory control. Following are best practice inventory control techniques to help online retailers ... Read More

  May 9, 2019     

Better Merchandising Decisions with Better Inventory Management

Inventory management is vital for many businesses; it can make or break your bottom line. So why are 43% of small businesses still using manual methods or worse not tracking inventory at all? Without an effective inventory management system in place, you risk your business being more susceptible to many problems such as inventory stockouts [&hellip ... Read More

  May 8, 2019     

Centralised Inventory in a Nutshell

Effectively managing inventory is key to the success of any business, especially those with large and complex inventories. When a business is reasonably small, managing inventory may be a simple task of recording stock movements on paper. However, as a business grows and its inventory diversifies, inventory management can become more complex. This ... Read More

  May 6, 2019     

Understanding Inventory Par Levels in Business

As any business owner or inventory manager knows, balancing inventory and managing inventory levels effectively can be the backbone of any business. While a company is smaller, managing inventory may be a relatively simple task, but it can quickly become more and more difficult as the business growth along with the customer base. In this […] ... Read More

  May 4, 2019     

5 Inventory Control Tips to Help You Stop Leaving Money on the Table

No business wants to leave money on the table. Whether you’re a one-room startup or a large enterprise, keeping a tight eye on both your margins and your cashflow is vital to your long-term business health. Losing money to inefficiency or missed opportunities is particularly painful; it’s one thing deciding not to pursue a source [&hell ... Read More

  May 2, 2019     

Making it as a Multichannel Merchant: 4 Steps to Implement for Tangible Results

Being successful in today’s retail market is no easy feat and, in fact, can be quite daunting. However it is certainly not impossible, and with some careful thought and consideration, embarking on the right steps at the right time and committing to some hard work can get your brand off the ground. In this article, […] ... Read More

  May 1, 2019     

The Teetering Relationship Between Inventory Control and Profit

The control of inventory and the effect it has on a company’s profit is inextricable and should be duly noticed by anyone attempting to manage sales and inventory. What many companies fail to fully appreciate is that inventory and cash can often be thought of as one and the same. If too much cash is […] ... Read More

  April 30, 2019     

The Implication of Stock-outs on Your Customers

eCommerce poses a variety of issues with order fulfilment and inventory control. It turns out that a quarter of online shoppers ditch their cart due to out-of-stock issues. This means eCommerce sites could be losing 25% of sales because of inventory control problems from stock-outs. However, this is only taking into account customers who have [&hel ... Read More

  April 27, 2019     

Learn How You Can Support Your Clients at Accountex London

Accountex London is a free 2-day conference and expo designed to help accountants and bookkeepers keep up to date with the latest happenings in the industry and empower them in their careers. No other UK even brings together the biggest brands, industry leaders and cutting-edge technology. Meet big businesses like Xero and Sage, and discover [&hell ... Read More

  April 24, 2019     

The Secret to an Online Retailer’s Success Lies in Great Inventory Management

For online retailers, inventory management can be a real challenge, especially as a business grows. Business owners and inventory managers must ensure the stock levels recorded online correspond to the actual physical stock levels in the warehouse; stock discrepancies can have far-reaching consequences. Inventory management for online retailers can ... Read More

  April 22, 2019     

Making Smarter Merchandising Decisions with Better Inventory Management

Selecting the appropriate types and quantities of merchandise for your business can be a real challenge, especially as your business begins to grow. Managing your inventory well can help take the guesswork out of purchasing decisions, and lead to more profitability and less wastage. In this article, we explore how business owners and inventory mana ... Read More

  April 20, 2019     

How Setting Par Levels Can Help Improve Your Inventory Control

We see the word par in aspects of daily life and in the business world. The word par is derived from the stock exchange and it indicated that a financial stock may be above or below its normal or ‘par’ figure. In golf, par is used to highlight the number of strokes a golfer should […] ... Read More

  April 12, 2019     

Centralised Inventory Management: Is it right for you?

Inventory management is a game changer when it comes to retail profitability. When your inventory is managed well, other parts of your business reap the benefits. However, the importance of inventory management isn’t always appreciated and can be overlooked by business owners. This is interesting because, from a financial point of view, inventory ... Read More

  April 11, 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     

5 Ways to Improve Inventory Accuracy When You’re Overwhelmed With Stock

Optimum inventory management relies on accurate data so that inventory orders can be balanced with sales. By data, we mean the numbers and categories of stored and sold product, expiration dates and storage locations so that there is always just enough product ordered in to satisfy consumer demand and sales. Improving accuracy around inventory data ... Read More

  April 8, 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     

Identifying Bottlenecks in Your Manufacturing Process

Bottlenecks in the manufacturing process are almost inevitable from time to time, and rather than being an issue themselves, they are a symptom or red flag to a deeper problem at hand. Therefore, to try and solve a bottleneck, it is important to identify it, work backwards to ascertain what is causing it and then […] ... Read More

  March 29, 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     

5 Traits of a Great Inventory Manager

Inventory management is key to the success of any business, big or small. It encompasses a wide range of tasks, all of which should streamline your supply chain and ensure the utmost productivity. As your business grows, good inventory management will become even more crucial, and you may need to hire an inventory manager who […] ... Read More

  March 23, 2019     

Is Your Inventory Management Helping Your Bottom Line?

Do you know where your wallet is right now? Sure, every so often you misplace your wallet. It might end up in the pocket of a pair of jeans on the floor, but it’s safe to say that 99% of the time you know where it is. This is because wallets are our important personal […] ... Read More

  March 22, 2019