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Topic: inventory stock

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     

The 5 P’s of Inventory Shrinkage

Inventory shrinkage is a term used to describe the loss of inventory. It is the difference between the physical count of inventory stock and the recorded quantity. Categorised as inventory waste, the four major types of inventory shrinkage are shop-lifting, theft by employees, clerical errors and supplier fraud. Placement Shoplifting is the leading ... Read More

  October 10, 2018     

Take Stock: Cut Inventory Stock Costs to Zero

Keeping inventory costs – a lot. Traditionally, manufacturing and distribution businesses have held inventory stock, usually at an expensive but what was seen as necessary surplus, to ensure their ability to produce sufficient goods to meet customer demand, thereby generating revenue and profit. But your company can now cut expensive stock-ke ... Read More

  September 26, 2018     

Anticipation Inventory Stock Explained

Companies that produce or sell goods need to keep inventory stock on hand to meet sales demand. Occasionally they will purposely hold greater quantities of stock in anticipation of events that will or are likely to occur. This excess level of on-hand inventory is called anticipation inventory and it is predominantly held to manage the […] ... Read More

  September 19, 2018     

Decoupling Inventory: What It Is and How It Works

Production processes are said to be coupled when each one is interdependent on the other. It would, therefore, stand to reason that decoupling would provide a level of independence between processes. So how does this apply to inventory? What is decoupling inventory? Decoupling inventory involves separating inventory within a manufacturing process s ... Read More

  September 18, 2018     

What is the Difference Between Safety Stock and Cycle Stock Inventory?

A company’s on-hand inventory stock generally consists of both safety stock and cycle stock inventory. The cycle stock is the inventory expected to be sold based on demand forecasts, while safety stock is extra or buffer stock to meet excess demand or protect against delayed shipments from your suppliers. Cycle stock inventory Cycle stock invento ... Read More

  September 18, 2018