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Topic: inventory stock

Solving Traditional Inventory Challenges with Online Inventory Control

Marketplaces are constantly changing, and eCommerce is driving increased competition for both large organisations and SMEs from across the globe. Supply chains are becoming increasingly complex and customers are correspondingly as demanding as they are more vocal about their experiences. Factors affecting inventory managament are becoming equally c ... Read More

  October 4, 2019     

3 Benefits of a Well-crafted BI Dashboard

For business owners just starting out, it may be easy enough to keep track of business KPIs and metrics such as sales records and trends, inventory turnover and more without much outside help. However, as a business grows this process can become more and more complex and time consuming. At the same time however, it […] ... Read More

  September 24, 2019     

Dealing with Aged Inventory

Those in the business of selling goods will have at least a vague understanding of the nature of excess or obsolete inventory, and the effects these forms of inventory can have on the business holding them. A related inventory type is known as ‘aged inventory’. In this article, we define aged inventory and outline the […] ... Read More

  August 14, 2019     

Understanding How Aged Inventory Impacts Your Warehouse

Being able to understand the journey of your inventory stock and what it entails is a key part of inventory management. It’s also good to see if your inventory gets stuck on a part of its journey, Most often it pauses on the warehouse shelves. When you have a build-up of aged inventory in your […] ... Read More

  July 26, 2019     

Dynamic Pricing: Investigating the Pros and Cons

Pricing is very strategic and it makes a big difference in how a business operates. Some businesses operate on a fixed pricing model where the price point is relatively set in stone across the board. An example of this would be the iPhone. They generally are sold with a fixed price strategy and rarely veer […] ... Read More

  July 22, 2019     

How to Carry Out an Inventory Stocktake in Unleashed

Prepping for a stocktake It can get challenging to keep track of your inventory when doing a stocktake so it’s a good idea to plan a stocktake before you start it. Before you begin, pick an appropriate date and time for your stocktake that minimises disruption to your business. Don’t forget that you’ll also need […] ... Read More

  July 5, 2019     

The Consumer Response to Stockouts Can Significantly Impact Your Business

The one constant between eCommerce channels and brick and mortar stores is the critical importance of inventory stock availability. Consumer response to stockouts varies but will generally have a negative impact on your business or brand. For retailers, stockouts lower the impact of promotions and can increase operational costs through the provisio ... Read More

  May 16, 2019     

Make Smarter Purchasing, Sales and Inventory Decisions with Better Inventory Control

Smart inventory control improves forecasting and enables you to make smarter decisions around retail sales and inventory stock. Without proper inventory control businesses may end-up with unsalable lines of inventory stock or alternatively lack the inventory stock that their customers are seeking. Today’s technology offers data collection and ana ... Read More

  May 15, 2019     

The Implication of Stock-outs on Your Customers

eCommerce poses a variety of issues with order fulfilment and inventory control. It turns out that a quarter of online shoppers ditch their cart due to out-of-stock issues. This means eCommerce sites could be losing 25% of sales because of inventory control problems from stock-outs. However, this is only taking into account customers who have [&hel ... Read More

  April 27, 2019     

Consumer Shopping Preferences are Driving Changes in The eCommerce Sector

In the last few years, the eCommerce sector has seen a shift in what drives buyer behaviours. Where previously consumers looked for quality packaging and fast delivery, they are now prioritising convenience, experience and quality when making online purchase decisions. The ever-changing perspectives on how consumers shop and interact with your bran ... Read More

  April 26, 2019     

The Secret to an Online Retailer’s Success Lies in Great Inventory Management

For online retailers, inventory management can be a real challenge, especially as a business grows. Business owners and inventory managers must ensure the stock levels recorded online correspond to the actual physical stock levels in the warehouse; stock discrepancies can have far-reaching consequences. Inventory management for online retailers can ... Read More

  April 22, 2019     

Improve Your eCommerce Inventory Control by Avoiding These Common Mistakes

Inventory is the necessary part of any business and proper eCommerce inventory control is one of the essential components for business growth. A crucial element of this inventory control is ensuring consistency of stock across all sales channels. With the 24/7 shopping convenience of online stores, eCommerce inventory control is more significant th ... Read More

  March 27, 2019     

Preventing 3 Common Inventory Control Issues

For large corporations or SMEs, correctly managing your inventory stock is imperative to achieving an efficient, sustainable and profitable business. Inventory control, however, brings with it many issues but with the right tools, some of the common ones are easily managed. Problems include product stockouts that result in lost sales opportunities ... Read More

  March 26, 2019     

5 Traits of a Great Inventory Manager

Inventory management is key to the success of any business, big or small. It encompasses a wide range of tasks, all of which should streamline your supply chain and ensure the utmost productivity. As your business grows, good inventory management will become even more crucial, and you may need to hire an inventory manager who […] ... Read More

  March 23, 2019     

How To Prevent and Mitigate 3 Common Inventory Management Problems

When managing inventory, there are a wide array of challenges and problems that face business owners. These problems are an issue for small businesses, large corporations and all of those companies in between who are experiencing growth. Inventory is one of your most important assets. It’s imperative to prevent and mitigate inventory management p ... Read More

  March 14, 2019     

How to Measure If Your Inventory Control is Working Efficiently

As a successful manufacturer or distributor, you understand the importance of managing inventory to ensure the business has enough stock on hand to meet customer demand. You’ve invested considerable time and effort into streamlining and enhancing your inventory control, but now you are unsure how to measure if these efforts have been effective. T ... Read More

  March 11, 2019     

5 Benefits of Modernising Your Inventory Management Today

Sometimes you know there is room for improvement, but you simply cannot decide where to begin. If there’s one area that can have a far-reaching impact on your business in terms of making money and saving money, it has to be better inventory management. We’ve recently seen Target prioritise a $7 billion investment to optimise […] ... Read More

  March 7, 2019     

7 Inventory Control Practices That Save You Money

Not only will effective inventory control save you money, but it can also improve cash flow in other ways. It’s important to factor inventory stock into your cashflow management because it represents money spent that won’t generate cash until your inventory has been sold. The longer inventory sits on your shelves, the more it costs, […] ... Read More

  February 12, 2019     

7 Key Order Fulfilment Tips to Handle Peak Season Sales

Peak season can fall at different periods for every industry. For example, many retailers of lifestyle goods may experience theirs before summer or Christmas, whereas many sporting vendors might get volume spikes just as their specific sports season begins. The rise of eCommerce and more frequent promotions, enabling you to order online at your con ... Read More

  January 28, 2019     

The Weighted Average Cost Method of Inventory Valuation

The weighted average cost method in accounting is one of three approaches of valuing your businesses inventory stock and determines the average cost of all inventory items based on the individual costs and the quantity of each item held in stock. Businesses use the weighted average to determine the amount that goes into the inventory […] ... Read More

  December 17, 2018     

The Ins and Outs of SDE Analysis in Inventory Management

Inventory control encompasses all aspects of managing a business’ inventory stock, from purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering. Inventory control is such a critical function for many businesses spanning every industry. Without effective inventory control methods, the supply chain can suffer, y ... Read More

  December 15, 2018     

Uncovering the Implications Behind the Weighted Average Cost Method

The weighted average cost method helps determine inventory valuation based on an average price per unit. The inventory is calculated by taking the average cost of all like-goods. The average cost is determined by dividing the cost of goods sold in the inventory stock, by the total number of goods that are on the market […] ... Read More

  December 11, 2018