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Topic: inventory management

5 Ways SMEs Can Improve Inventory Turnover

To ensure your small business is operating efficiently, effectively managing inventory and meeting customers’ needs, you should aim to improve inventory turnover. This, in turn, will help optimise business cash flow and maximise profits. Inventory turnover is the number of times a business sells and replaces inventory within a specified timeframe ... Read More

  November 30, 2018     

The Difficulties of Managing Multiple Warehouses

Managing a warehouse is a complex and multi-faceted job. There are many factors affecting inventory management that need to be considered when you’re looking after a warehouse: stock levels need to be kept at healthy levels and shipments need to go out on time; staff schedules and training need to be organised; overhead costs need […] ... Read More

  November 26, 2018     

How You Can Overcome These 5 Challenges of Managing Multiple Warehouses

Many benefits can arise from adding extra warehouses such as reduced shipping costs by adding new warehouses closer to customer locations, added storage capacity where extra warehouse space may be needed, warehouses for specific purposes that can simplify warehouse management to contingency plans to alleviate risk, such as if one warehouse is taken ... Read More

  November 21, 2018     

How Inventory Management Has Evolved Over Time

When it comes to inventory management, there has been a significant shift in the way warehouses operate today and the future holds even greater changes. It is certainly an exciting time for inventory management as the evolution is rapidly changing. Manual inventory management In most warehouses, the days of pens, paper and spreadsheets are coming [ ... Read More

  November 19, 2018     

Using Online Inventory Management to Give Your SME a Competitive Edge

As a small business competing in a large market, tracking inventory is the first step to grow into a successful company. Online inventory management for businesses of all sizes is becoming the new norm, with customer expectations of delivery times and stock availability becoming tougher for smaller businesses to meet. By updating to an online [&hel ... Read More

  November 16, 2018     

Getting a Grip on Order Fulfilment

As a retailer, you want to do everything you possibly can to serve your customers and boost your business. An effective way to keep that happening is by making your fulfilment of products you dispatch as easy as possible. With online inventory management software, you can improve your order fulfilment and deliver best-in-class service to […] ... Read More

  November 16, 2018     

The Growth of Inventory Management

Inventory management originated even before the Industrial Revolution and has certainly evolved with time and expertise to become what it is today. The need for inventory management has always existed where trading was a livelihood and the stock management was imperative to protect one’s resources. The Industrial Revolution ushered in a boom in t ... Read More

  November 13, 2018     

4 Benefits of Integrating Inventory Management and Accounting Software

Inventory management software is a must for a business of any size and so is accounting software to improve efficiencies and organise businesses smartly. Accounting software defines the current standing of your company while inventory management software is used to maintain inventory health. Inventory management is about knowing what you have in yo ... Read More

  November 8, 2018     

5 Challenges of Fulfiling eCommerce Orders

For any retailer, fulfiling customer orders in a timely and appropriate manner is the primary goal first and foremost in their minds. However, order fulfilment is not a simple concept that involves receiving orders, locating the product in the warehouse and calling it a day. The challenges arise in ensuring the received orders and inventory [&helli ... Read More

  November 3, 2018     

Integrated Inventory Management Software and Accounting Software for Successful Business Growth

More than ever, competitive businesses are acknowledging the importance of adequate inventory control practices and appropriate management software, but the integration of accounting software with that of inventory management offers many advantages for better holistic business management. Combining forces in this way offers visibility and optimisat ... Read More

  November 1, 2018     

Order Fulfilment Differences in B2B and B2C

Order fulfilment is a critical part of both B2B and B2C environments; both markets play important roles in the global economy. Each model has a slightly different order fulfilment method. Their approaches to logistics, operations and end-customers vary, as well as the regulations they are subject to in the business world. B2B order fulfilment In [& ... Read More

  November 1, 2018     

12 Reasons Why You Have Stocktake Discrepancies

Stocktake discrepancies happen when the actual quantity of inventory stock on hand is different from the quantity recorded in an inventory system for any particular item. Unfortunately, this is a real issue every business tasked with maintaining and controlling inventory is faced with. If not avoided or detected, discrepancies will bring about vari ... Read More

  October 30, 2018     

The Challenges of Effective Order Fulfilment

Effectively fulfilling customer orders is an art and perfecting the process can be a real challenge for new business owners – as well as seasoned business owners like. In our increasingly digitised world, consumers have become accustomed to convenience at every point of the purchasing process – from browsing the catalogue, to choosing t ... Read More

  October 29, 2018     

Where Does Dissatisfaction with BOPIS Stem From?

The omnichannel retail method, BOPIS, can benefit both consumers and retailers alike. The two main reasons consumers are attracted to BOPIS are the savings they can make by avoiding shipping fees, and the convenience of not waiting for deliveries. This is especially true during the busy holiday seasons where packages have failed to be delivered [&h ... Read More

  October 27, 2018     

Avoid These Common Causes of Inventory Discrepancies

Optimum inventory control requires specific job skills and a certain amount of strategic planning. A good understanding of common mistakes in inventory management will help avoid inventory discrepancies, reduce costs and improve responsiveness to fluctuating consumer demand. Responsibility for inventory management should be assigned to a person emp ... Read More

  October 26, 2018     

3 Common Challenges You’ll Face with Order Fulfilment

With the speed that retail moves these days, it’s understandable that the order fulfilment process can bring on some difficult challenges for businesses. Customers have demands to be met around the clock. It’s essentially a requirement for businesses to have an online presence and a highly functional eCommerce platform. However, this means that ... Read More

  October 26, 2018     

Causes of Inventory Discrepancy in Your Stocktaking

An inventory discrepancy happens when the actual on-hand inventory stock is different from the item quantity recorded in an inventory system. Discrepancies are not uncommon and can have a substantially negative impact on any business operation. Undetected stock discrepancies can result in lost sales, overstocking and poor customer service. Frequent ... Read More

  October 25, 2018     

Inventory Management Paves the Way for a Successful BOPIS Model

There are several benefits of a “click and collect” retail model for both the customer and the retailer, however, it is vital to get inventory management right if BOPIS is going to work for you and not against you. Delve in with us as we look at what you need to have in place for […] ... Read More

  October 24, 2018     

Why is Demand Forecasting the Way to Go?

As discussed in this article, demand forecasting is a seemingly straightforward concept to grasp yet can be difficult to achieve with 100% accuracy. However, making it a focus of company operations is certainly worth the effort. In this article, let us consider some benefits of demand forecasting. The customer experience It stands to reason that [& ... Read More

  October 24, 2018     

What Does a BOPIS Retail Model Have to Offer?

Buy online pickup in store (BOPIS) is the successful, albeit relatively young, marriage between brick-and-mortar stores and eCommerce. So how does this relationship work so successfully? It amalgamates two shopping experiences for consumers to optimise efficiency, buyer satisfaction and cost-savings for the retail brand. It allows consumers to brow ... Read More

  October 24, 2018     

The Impacts of Inventory Stock Discrepancies in Accounting

When the number of stock recorded in your business’ records do not match up to your physical number of stock counted, this results in stock discrepancies. This is one of the main reasons stocktake is so important as it reveals if any such discrepancies exist. Discrepancies, if not prevented or detected, can bring about serious […] ... Read More

  October 23, 2018     

The Omnichannel “Click and Collect” Model

In a world of omnichannel shopping, the BOPIS, or ‘click and collect’ model gives consumers the ability to research, select, order and pay for products online, then pick up in-store. The BOPIS model helps shoppers overcome traditional objections to shopping online, such as the inability to see or touch the product, converting them from single-c ... Read More

  October 22, 2018