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 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 controlWhy Your Business Should Invest in Supplier Relationship Management
Suppliers are as important as your clients and customers; without suppliers to handle shipping, inventory manufacturing and outsourced services, many businesses would struggle to keep up. Most businesses are increasingly focused on end-user satisfaction but make sure that your business is not overlooking its suppliers. Build strong, successful rela ... Read More
August 1, 2018 inventory reporting, Manufacturing productivity, supplier management, supplier relationship, suppliers, supply chainThe Importance of Inventory Metrics for Business Success
Starting a small business can be an exciting time for the owners, who usually have a solid understanding of how to build and promote a product and how to reach their customer base. However, a key and often overlooked component to business success is understanding key inventory metrics. Managing your inventory correctly can greatly enhance [… ... Read More
April 5, 2018 inventory accounting, inventory reporting, inventory tipsGauge Your Business’ Health with these 5 Inventory Metrics
For busy manufacturers and wholesalers, inventory metrics are a fast and reliable way to gauge the performance of the business. Although there are higher-level metrics, like the current ratio or the debt-equity ratio, there’s particular value in checking in on inventory performance. Inventory stock is often one of the largest assets on a business ... Read More
March 20, 2018 inventory control, inventory management, inventory reporting, inventory turnover5 Inventory Stock Metrics for Business Success
When it comes to making the best decisions that can directly impact your business’ bottom line, it is imperative to derive actionable insights from your business’ inventory stock data. It is crucial for any business to understand key stock inventory metrics that informs this data, thus enabling your business to make better informed decisions. I ... Read More
March 19, 2018 inventory reporting, inventory stock, stock control, stock count, warehouse managementChoosing Between Local or International Suppliers
As industries increase in globalisation, establishing trading relationships with suppliers further and further afield, there is a concurrent and rather ironic push for consumers to support local entities and ‘shop small’. The idea of course is that sourcing products locally increases the likelihood that products are hand-made with attention to ... Read More
February 5, 2018 inventory reporting, supplier management, suppliers6 Factors of Considering a New Supplier
The best suppliers will provide the most suitable goods or services at the right prices and within the right time frames for your business needs. Below we give you six factors you need to know when considering a new supplier. Finding a Supplier A great place to start is generally online. This is one of […] ... Read More
December 16, 2017 inventory reporting, supplier management, supplier relationship, suppliersThe 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 reportingFrom supplier to customer: 5 challenges in the supply chain
The importance of a company’s supply chain should never be underestimated. The supply chain is, after all, the lifeline to product supply, stock control, sales and thus company profitability. However, there are many factors that make managing the supply chain very difficult. The key to dealing with them successfully is to understand them and how ... Read More
November 1, 2017 inventory reporting, suppliers, supply chain, supply chain challengesStatic 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