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Topic: inventory management

The 5 P’s of Inventory Shrinkage

Inventory shrinkage is a term used to describe the loss of inventory. It is the difference between the physical count of inventory stock and the recorded quantity. Categorised as inventory waste, the four major types of inventory shrinkage are shop-lifting, theft by employees, clerical errors and supplier fraud. Placement Shoplifting is the leading ... Read More

  October 10, 2018     

4 Wins for Demand Forecasting Success

Predicting demand accurately is an extremely pivotal part of running any company which is in the business of selling goods or services. Without being able to predict ebbs and flows in demand, inventory managers will inevitably struggle to keep things running effectively. In this article, we explain why forecasting demand accurately is so important ... Read More

  October 8, 2018     

Why You Need to Get Demand Forecasting Right

An accurate demand forecast is essential for good inventory management so it is vital that business owners get it right. In this article, we explain why demand forecasting is so important, and provide a few tips and tricks on how to get it right. Back to the basics Demand forecasting is the process of using […] ... Read More

  October 8, 2018     

Inventory Shrinkage: A Ballooning Problem Without Inventory Management

When the physical count and value of stock does not reconcile to the reported value from the accounting system, inventory shrinkage happens. Essentially, there is a loss of stock and subsequent value that must be investigated and reconciled. Inventory shrinkage is quite a problem in and of itself, but also over time if not resolved, […] ... Read More

  October 6, 2018     

Zero Inventory: The Benefits of Owning Less

Zero inventory refers to the idea of little to no stock kept on hand and orders are fulfilled using the Just-In-Time (JIT) business model. This is implemented by major companies and lean manufacturing leaders, such as Toyota and Dell, and serves its purpose of keeping inventory costs low, reducing the risk of obsolescence or spoiling […] ... Read More

  October 6, 2018     

3 Current Challenges Facing Multi-Channel Pricing

Multi-channel pricing currently faces a ream of challenges in the retail industry. With the marketplace constantly evolving, the way manufacturers are selling products is drastically changing. There are a variety of ways for your product to land into a consumer’s hands. You have traditional brick-and-mortar stores, eCommerce sites, third-party se ... Read More

  October 5, 2018     

How to Optimise Your Order Fulfilment Process

Having a streamlined order fulfilment process is an important operation that many companies strive for in the age of eCommerce. With an effective order fulfilment process, a company can deliver products to customers swiftly and achieve customer expectations. In the fast-paced eCommerce market, products are shipped around the globe. This means order ... Read More

  October 5, 2018     

Why Your Business Needs to Know About Anticipation Inventory

A common way to categorise inventory is by its function. Anticipation inventory is one of the four basic functions of inventory. It is excess levels of product held in anticipation of specific or uncertain demand. The key difference of anticipation inventory from regular inventory is that there is a reason that can be pointed to […] ... Read More

  October 4, 2018     

4 Ways Online Inventory Management Helps Manage Food-based Businesses

Understandably the food and beverage industries are one of the most regulated sectors globally; mistakes with the handling, preparation and storage of food can be a cause of serious health threats for consumers. By implementing an online inventory management system into your operations you can better meet regulatory obligations and safely manage yo ... Read More

  October 3, 2018     

Online Inventory Management for the Hospitality Industry

In the highly competitive hospitality industry, hotel operators and small business owners need access to valuable data to facilitate informed decision-making. This data plays a particularly pivotal role in developing the revenue and inventory management strategies for hotels and resorts to ensure business success and sustainability. Online inventor ... Read More

  October 2, 2018     

Zero Inventory: A Primer for Manufacturers

With more and more businesses touting zero inventory as the secret to their success, boards and executive teams are increasingly looking at cutting stock as a way to gain a competitive advantage. Zero inventory is the practice of keeping little to no inventory often through a use of just-in-time production or manufacturing inventory as a […] ... Read More

  October 1, 2018     

Managing Inventory as an Omnichannel Business

Organising inventory can be a complicated task in itself, but for omnichannel businesses, it can be even more complex. In this article, we explain the challenges involved in omnichannel inventory management and omnichannel businesses can navigate this complicated task. What is an omnichannel business? Omnichannel is a multichannel approach to sales ... Read More

  October 1, 2018     

3 Ways to Combat Inventory Shrinkage

Inventory shrinkage creates problems for businesses as it leads to a loss of sales and profits. A 2016 National Security Survey found that inventory shrinkage costs businesses $45.2 billion in 2015. In this article, we explain what inventory shrinkage may mean for your business and provide some useful tips for avoiding it. What causes inventory [&h ... Read More

  September 28, 2018     

How Inventory Management Plays a Part in the Hospitality Industry

Working in the hospitality industry is a dynamic and ever-changing environment. Menus change, daily specials vary, seasonal dishes and health and safety issues surrounding preparation are always evolving in this space. However, there’s another facet that is integral to success in the hospitality industry: inventory management. It is an important ... Read More

  September 28, 2018     

Why Your Manufacturing Business Needs to Know About Decoupling Inventory

When it comes to manufacturing, to reap the benefits of economies of scale, the plant and machinery should be running at optimal levels. Stopping machinery can be costly to a business for this reason. However, some halts in operations may be due to the lack of availability of a necessary input. Often in a production […] ... Read More

  September 27, 2018     

Unleashed is GetApp’s Inventory Management Leader in this Quarter

Unleashed Software has proudly topped the board in GetApp’s quarterly ranking of inventory management leaders! This year marks a huge jump from our top-10 position for GetApp’s ranking last year. GetApp’s ranking highlights the top 15 cloud-based inventory management apps. Each app is scored on five factors: customer reviews, integrat ... Read More

  September 27, 2018     

What is Zero Inventory and How Does it Work?

Inventory control is undoubtedly one of the biggest challenges in supply chain management and poor forecasting can leave companies with significant funds tied-up in excess stock. However, new technologies provide better inventory control solutions and with a more collaborative approach to supply chain partnerships, there is an alternative to holdin ... Read More

  September 26, 2018     

The Role of Inventory Management in the Food Industry

The food industry is somewhat different than other industries with large inventories. The inventory stock in the food industry is often perishable, which changes the way food companies manage inventory. To operate a successful food company, you need the right inventory management tools in place to manage the supply chain, delivery of the product, a ... Read More

  September 25, 2018     

Inventory Management in the Hospitality Industry

The hospitality sector can sometimes be overlooked when we think of inventory management. After all, what is their product on offer? For hoteliers, their inventory are hotel rooms rented each night; for restaurateurs, it is food and beverages that are purchased or prepared and that do not end up being consumed and paid for by […] ... Read More

  September 25, 2018     

Inventory Management Challenges in the Food & Beverage Industry

The food and beverage (F&B) industry is a fickle one that constantly changes and evolves based on consumer trends and seasonal produce growth and therefore can be very challenging to manage in terms of inventory and resource planning. The challenges it faces include tough competition within the industry, seasonal demands, a constant need for i ... Read More

  September 24, 2018     

True or False? Inventory Management Myths Debunked

Managing inventory, even as a smaller start-up business, can be a delicate balancing act requiring real dedication and commitment. There are innumerable myths about inventory management that plague the world of business and may even prevent new business owners from becoming successful. In this article, we dispel four common myths about inventory th ... Read More

  September 22, 2018     

Looking Ahead: The Future of Inventory Management

Inventory management has and always will be a key component to the successful operations of any business. In recent times, we’ve seen more and more businesses opt for inventory management software to ensure inventory management success and accurate forecasting. But what does the future hold? In this article, we predict a few exciting changes to [ ... Read More

  September 22, 2018