The Basics of Business Intelligence Dashboards
If you’re an inventory manager or a business owner, having data about the way your business runs can be a game-changer. However, gathering data is only part of the equation. Collating and analysing a wealth of information can be a tedious challenge, especially in the face of insurmountable piles of data. These issues are common […] ... Read More
August 19, 2019 business growth, business success, inventory reporting, real-time reporting7 Ways to Improve Your Company’s Data Quality for Better Decision Making
If you were asked what your company’s most important assets were, you might reel off a list of the essentials such as sites, equipment, inventory stock and employees. However, what often gets overlooked, and increasingly becoming one of the most valuable assets, is company data. Data-driven decisions are not a fleeting business trend but rather [ ... Read More
July 29, 2019 accurate data, intuitive data, inventory management, inventory reportingThe 6 Essentials of Writing Better Business Reports
Any successful business owner will know how important it is to get their business reports right. Business reports such as annual reports are a great way to enable business owners to communicate key information between companies and with shareholders and customers alike. But getting the report right is essential. In this article, we explain how [&he ... Read More
July 27, 2019 inventory reporting, profitabilityWhy Poor Quality Data is Hurting Your Business
Data is one of the most powerful components of a business. Information gathering and information sharing can help shape the direction of a business, and it can support both staff and customers. Data is undoubtedly a very formative part of any business and a phenomenally important asset. With data, your business can make better decisions […] ... Read More
July 8, 2019 accurate data, clean data, inventory control, inventory management, inventory reportingThe 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 clean data, inventory control, inventory management, inventory reporting, stock takeTelltale 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 accurate data, clean data, data accuracy, inventory control, inventory management, inventory reportingInventory 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 inventory control, inventory management, inventory reporting, real-time inventoryThe Relationship Between Cashflow and Inventory Control
How you manage your inventory will directly impact the cashflow of your small business and when you fail to effectively manage stock you are putting your business at a disadvantage. Why? Because your cash is tied up in that very stock. The correlation between inventory control and cashflow is largely determined by the levels of […] ... Read More
December 3, 2018 inventory accounting, inventory control, inventory reportingControl Your Inventory to Control Your Cashflow
When you think of inventory, you might think of a warehouse, cardboard boxes or endless aisles of products stacked high into a ceiling. When you think of inventory, do you think of how it’s impacting a business’s daily cashflow? It might not be the first thing to come to mind, but it sure is important. […] ... Read More
November 28, 2018 FIFO, inventory control, inventory reporting5 Key Inventory Management Reports for Business Owners
To successfully grow your business, it is essential to manage your inventory stock as accurately and optimally as possible. One way to do this is by using and understanding the right inventory management reports. Accurate, up-to-date and relevant inventory management reports will allow you to discover trends, identify weaknesses and strengths, and ... Read More
September 6, 2018 inventory control, inventory management, inventory reportingThe Best Reports for Inventory Management
It is a journey to achieve that delicate balance of inventory and manage it properly so your business sees the optimal benefits. However, businesses both big and small will all experience a variety of factors affecting inventory management. They always need to look at stock levels and decide if they need more or if it […] ... Read More
August 30, 2018 inventory control, inventory management, inventory reporting5 Essential Reports for Effective Stock Control
Whether you’re in manufacturing, distribution or wholesale, knowing your inventory position inside out is almost a prerequisite for an efficient, scalable operation. Despite its importance to ensure the business is well-placed to grow, many businesses (SMEs in particular) don’t have the necessary inventory data to optimise inventory throughout ... Read More
August 20, 2018 inventory control, inventory management, inventory reporting, stock controlThe Difference Between Static and Real-Time Reporting
In today’s fast-paced society and with the introduction of new technology, it is now desirable to have real-time dashboards that stakeholders can access anywhere, anytime rather than static historical summary reports. With this in mind both static and real-time reporting are powerful and useful when it comes to making business decisions. Here we ... Read More
December 13, 2017 inventory reporting, real-time reporting, static reportingStatic or Real Time Inventory Reporting: Which Will Keep Your Business Moving?
Inventory reporting can be simple, but it can also involve a lot of guesswork. With a perpetual, real time inventory management system, a business typically has access to always accurate inventory information that changes as inventory moves through the production process. On the other hand, a business that carries out a periodic inventory system wi ... Read More
July 8, 2017 inventory reporting, real time, real-time inventory, real-time inventory control, real-time reporting, static reporting, stock countGourmet Gadgetry brings back time efficiency for their retailing business
Gourmet Gadgetry designs the next generation of cookware, gourmet gadgets and chocolate fountains for the home. With their unique machines on shelves, it’s sure to tempt any budding home baker. Playing with your food In 2011, co-founder Lisa Scott saw a gap in the market for good quality kitchen appliances that you could have fun […] ... Read More
June 13, 2017 GB, Gourmet Gadgetry, inventory reporting, retail, time management, UKThe Importance of Inventory Control
Inventory control is essentially about reducing costs and improving service. It is also how you manage your working capital to maintain consistent and adequate cash flow. Achieving effective inventory control is accomplished by having the right product, in the right place, at the right time. Maintaining the stock necessary to meet customer’s need ... Read More
May 26, 2017 inventory, inventory control, inventory levels, inventory reportingThe Key Drivers of Negative Inventory
Inventory is something a business can count, so it is surprising that inventory can be negative on paper or in an inventory management system. ... Read More
November 8, 2016 inventory reporting, manufacturing, negative inventory, stock movements, warehousing