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Topic: inventory stock

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     

How Does the Weighted Average Method Work?

There are a variety of ways to measure the value of your inventory. If you’re a business owner, you might look at different tactics to see what work best for you. This may include the last-in-first-out method, the first-in-first-out method or the weighted average method. Unleashed Software uses the weighted cost method. There are pluses [… ... Read More

  December 11, 2018     

Optimise Cashflow With Better Inventory Management

It is imperative to understand that cashflow and profit are two different things. While you evaluate your cashflow you may encounter situations where you have made a profit, but you are lacking in working capital. Low working capital means that your current liabilities exceed your current assets in this case the company may have outstanding [&helli ... Read More

  December 5, 2018     

What Are the Best Ways to Optimise Your Inventory?

Inventory optimisation is changing the way businesses are running their warehouses and managing their inventory stock. It’s allowing them to become more competitive in the market and see advantages on a global scale. Focusing on inventory optimisation allows companies to free up working capital without substantially changing the service levels. I ... Read More

  December 3, 2018     

What Makes a Good Bill of Materials?

An effective Bill of Materials (BOM) can enhance businesses productivity and operations. A BOM is a lengthy list that comprises everything a company needs to manufacture and deliver a product. It outlines the entire lifecycle of a product. This can include a list of raw materials, parts, components and quantities of inventory stock needed to [&hell ... Read More

  October 31, 2018     

Growing Your Business With Each Click and Collect

Buy online, pick up in-store (BOPIS), or “click and collect” as customers know it, is a valuable omnichannel concept that has benefits for both retailers and shoppers. BOPIS essentials It sounds obvious but the first thing you need in order to offer BOPIS to your customers is an online store. This is more than just […] ... Read More

  October 19, 2018     

Making Sure Your Inventory Stock Adds Up: Avoiding a Stock Discrepancy

Let’s say you run a garden centre, selling plants and gardening equipment. You’re stock taking and you’ve noticed that something’s wrong: the number of garden gnomes you have on the shelf doesn’t match the number of garden gnomes that you’ve recorded in your inventory stock count. You’re surprised – how could this have happened? How ... Read More

  October 12, 2018