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Topic: inventory stock

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     

Consider These 2 Types of Inventory Stock Before You Purchase Inventory

For a business owner, deciding on how much inventory stock alone can be a massive undertaking. When a business owner is trying to decide how much inventory stock to order, it is important to understand what components are involved in inventory levels. Integral components of inventory stock The basics of inventory levels can be broken down into ... Read More

  September 12, 2018     

The Essential Difference Between Fixed Assets and Inventory Stock

Company assets are all the resources owned by the business, such as cash, receivables, inventory stock, investments, land, buildings and equipment. It’s important to know what makes up your fixed assets, and particularly to understand what represents your consumable inventory because it loses value the longer it is held. From an accounting perspe ... Read More

  September 10, 2018     

Stock Control and Fixed Asset Management: What’s the Difference?

Keeping track of inventory and fixed assets is crucial when calculating business success. Not only is inventory valuable because of its shelf worth, but your fixed assets enable your business to run. Knowing the difference between the two is important for both accounting and stock control purposes. What are fixed assets? A fixed asset is […] ... Read More

  September 7, 2018     

Improve Your Customer Returns Process with Inventory Control

Nearly a third of all eCommerce sales are returned and this is particularly true of fashion items that are sent back because of fit or style. In addition, the free shipping and hassle-free return policies offered by large retailers such as Amazon make it risk-free for consumers to buy now and return later. It is […] ... Read More

  August 28, 2018     

A Closer Look at Optimising Your eCommerce Inventory Stock

Once your eCommerce platform is up and running, you should be able to celebrate all of the hard work and decisions you made to get there, right? Well, it is true that an online eCommerce business can take a while to get off the ground, but once it’s up you must grow it and optimise […] ... Read More

  August 17, 2018     

5 Causes of Inventory Waste and How to Avoid Them

Inventory waste can cost your business valuable time and resources. Inventory ties up capital and if you’re not managing it effectively it will quickly absorb important cash flow and worse, it can hide inefficiencies within your operations. It is crucial to optimise inventory control to help reduce your inventory waste. However, before you can re ... Read More

  August 11, 2018