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Topic: inventory management

What’s Causing Your Inventory Management Problems and How to Avoid Them

Businesses are quickly realising that inventory control is absolutely necessary to run an efficient business and make money in the process. Especially in today’s competitive marketplace, business owners simply can’t afford to have money go down the drain. We take a look at common inventory management problems, causes and how best to avoid this. ... Read More

  March 6, 2019     

Inventory Management In An Increasingly On-Demand World

In our increasingly digital, and moreover, consumer-driven world, inventory management can be tough for business owners. Whereas traditional inventory management was fulfilled in bulk and only took into account the brick-and-mortar store, these days it’s much different. Consumers are increasingly demanding newer, more efficient and more convenien ... Read More

  March 5, 2019     

How To Improve Your Financial Health With Better Inventory Management

Small business owners may underestimate the importance of good inventory management. However, inventory management can be make-or-break when it comes to financial growth and long-term financial health. In this article, we explain how business owners can manage inventory to improve financial health. What does inventory management have to do with fin ... Read More

  March 4, 2019     

What Makes a Great Inventory Manager?

Being an inventory manager involves a varied set of skills. These skills need to span across a variety of touchpoints in a business. Not only do you need to manage the inventory, but you need to look after your staff who help you on the warehouse floor. It’s a crucial role that has responsibilities in […] ... Read More

  March 1, 2019     

How to Tackle the On-demand World of Inventory Management

It’s fast-paced, it’s busy, it’s all things go, all the time. Inventory management is an around the clock operation and the pace isn’t slowing down. The way we shop has rapidly changed. This means the way we manage inventory has rapidly adapted as well. Just think about the most basic transaction of going into a […] ... Read More

  February 28, 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     

5 Quick Solutions for Simplifying Supply Chains

Supply chains are becoming increasingly complex so simplifying them can be a complicated matter. In an attempt to get back to supply chain basics, companies need to scrutinise their processes, from procurement through to storage and shipping. Here are five quick solutions for simplifying supply chains: Clear the clutter With the rapid rise in our [ ... Read More

  February 26, 2019     

What Are Some of the Necessary Skills of Great Inventory Managers?

If optimal inventory control is imperative to maintaining a successful, sustainable and profitable business, then it’s obvious that capable inventory managers play a crucial role in achieving this. Inventory managers are responsible for leading a team of workers as they manage the flow of inventory stock in, through and out of the business. To do ... Read More

  February 25, 2019     

Just-in-time in the Real World of Inventory Management

Just-in-time inventory (JIT) is the antithesis of just-in-case inventory and can be a valuable method of reducing waste and streamlining the supply chain. The benefits of JIT inventory are numerous, although they can only be realised with hard work to set up an intricate system involving many synchronised components. In this article, we will consid ... Read More

  February 20, 2019     

5 Reasons You Need Modern Inventory Solutions for Optimum Inventory Control

Innovative technologies have made their mark on every aspect of manufacturing, retail and eCommerce business, from product design through to after sale service. When deciding where to prioritise budget spend for greatest return on investment, companies have difficult decisions to make and while inventory control continues to be fundamentally impact ... Read More

  February 19, 2019     

7 Inventory Control Practices That Save You Money

Not only will effective inventory control save you money, but it can also improve cash flow in other ways. It’s important to factor inventory stock into your cashflow management because it represents money spent that won’t generate cash until your inventory has been sold. The longer inventory sits on your shelves, the more it costs, […] ... Read More

  February 12, 2019     

5 Best Practice Inventory Control Techniques for Warehouse Management

Good inventory control techniques for warehouse management start with an organised and well-maintained site. Managers should regularly inspect warehouse operations, ensuring that stock is stored in a way that allows staff to easily and safely access it. Below are some best practice inventory control techniques to help improve your operations and en ... Read More

  February 9, 2019     

How Can I Make Sure My Business is Ready for Action in the New Year?

You’ve had your Christmas party, you’ve shipped your final orders for the holiday season and you’re enjoying your time off. But it’s never too early to start thinking about the following year – and there’s plenty to think about when it comes to making the year easier on yourself and your employees. One of the […] ... Read More

  February 8, 2019     

Is Using Excel for Inventory Management Really That Bad for My Business?

If you run a small business – or if you used to run one and your business has gotten bigger – you’re probably familiar with Excel. This versatile little piece of software is great for budgeting, accounting, scheduling, project management, customer relationship management and more. In particular, Excel can be a really handy tool for […] ... Read More

  February 7, 2019     

Inventory Accounting: When Should You Use the Weighted Average Cost?

Accounting cost methods are used to control how a businesses inventory expenses appear on the company books. The weighted average is an accounting cost method used to value a company’s inventory by applying the average cost of on-hand inventory to each item of inventory stock. This means that both the cost of goods sold (COGS) […] ... Read More

  February 6, 2019     

Use These Inventory Management Tips to Save You Money

Inventory stock can earn you money or cost you money depending on how you manage it. If your inventory stock is managed properly, it will allow you to move products quickly and efficiently, earning you money faster. However, if you have shelves of dead inventory stock taking up space throughout your warehouse and other obstacles […] ... Read More

  February 4, 2019     

Success Stories of Just-in-Time Inventory

Just-in-time (JIT) manufacturing has been revolutionary for manufacturing and inventory management companies around the globe. JIT strives to maximise efficiency and minimise costs. The concept that underpins the JIT approach is simple, it aims to eliminate waste. Essentially, when inventory is required, it is delivered. The JIT approach differs fr ... Read More

  February 2, 2019     

Overhauling Your Inventory Management System as the New Year Rolls In

With the first quarter of the new year in full swing, it is vital that you establish and follow resolutions for your business. Perhaps one of the most important areas of your business to overhaul and revitalise is inventory management. However, for this to be a success we must visualise what the end goal is […] ... Read More

  February 1, 2019     

Tips For Your Small Business to Ensure Profitability During the Holidays

The holiday season is a pressing time not only for families but also for small businesses who are trying to figure out a fool-proof way to brave the rush of shoppers in one month to the anticlimactic downturn in the next. It does not, however, have to be doom and gloom. In this article, we […] ... Read More

  January 31, 2019     

How to Prepare Your Business for the Peak Season

The peak season can be an exciting and rewarding time for business owners, with the promise of a drastic increase in sales. However, it can also be a stressful time that requires a lot of planning ahead, and possibly even some new hires to help manage the influx of customers. In this article, we outline […] ... Read More

  January 29, 2019     

How To Improve Your Business’ Financial Health with Inventory Management

Since inventory is one of the biggest assets for a company, it’s no wonder that it can impact on a company’s financial health. If inventory is poorly managed, there can be a domino effect on the company’s financial statements. For instance, if you have old stock sitting on the shelves, taking up space and not […] ... Read More

  January 26, 2019     

4 Inventory Management Best Practices You Can Implement in Your Warehouse

Keeping on top of inventory, shipments and logistics for a warehouse can be challenging. Now think about doing that for multiple warehouses. Whether you’re managing one warehouse or several, you know it can be a demanding job. There are internal pressures to keep logistics moving swiftly inside the warehouse, to keep staff trained and to [&hellip ... Read More

  January 25, 2019