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Topic: inventory reporting

DIFOT: A Metric of Supplier Performance

Delivery In Full On Time, or DIFOT, is a metric used to analyse how accurate and efficient your supply chain is. Your supply chain is the very lifeblood of your business. Without it functioning correctly, your supplies may not arrive in the correct amount or the correct timeframe, severely compromising your ability to meet your […] ... Read More

  September 23, 2019     

How to Set Meaningful Assessments and Key Performance Indicators

It’s important to take the right steps when setting Key Performance Indicators (KPIs) to ensure they are meaningful and deliberate to help improve business performance. To achieve meaningful KPIs you must first have a clear understanding of the difference between KPIs and targets. Key performance indicators KPIs help businesses to understand how ... Read More

  September 20, 2019     

How to Tell if Your Suppliers are Underperforming

Not all suppliers are created equal: some are better at providing low-cost goods, while others are great at customisation. Some suppliers have optimised for fast-shipping times, and some suppliers focus on high-quality materials. Regardless of whether you make, manage or move products, suppliers are a vital part of your company’s success. Without ... Read More

  September 12, 2019     

Why Sales Reports are Important to Inventory Management

When managing your inventory, you are always looking for ways to optimise and improve your operations. Trying to keep healthy levels of inventory without overstocking or understocking is a difficult practice that most inventory businesses experience. Having inventory stock go in either direction can be a costly exercise. This can lead to greater pr ... Read More

  September 9, 2019     

How To Ensure Best Practice Use Of Your Business Intelligence Dashboards

Business intelligence dashboards (BI dashboards) are a technological approach to analysing and presenting information visually in a practical and actionable way. BI dashboard design combines charts and graphs on a single screen to give readers a clear picture of the business data they are assessing. Understanding how to use business intelligence to ... Read More

  August 27, 2019     

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     

7 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     

The 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     

Why 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     

The 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     

Telltale 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     

Inventory 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     

The 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     

Control 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     

5 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     

The 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     

5 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     

The 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     

Static 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     

Gourmet 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     

The 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     

The 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