The 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 tipsSix Tips For Inventory Management Best Practice
Inventory is one of the largest assets in a goods-based business, and even if your business is small-scale, chances are that a significant part of its capital is invested in inventory. In a goods-based business, your success depends on inventory being managed well. In this article we look at what best practice looks like in […] ... Read More
July 25, 2017 best practice, efficient inventory management, inventory tips, real-time inventory control, stock control, supply chain riskConducting a Successful Stocktake
A stocktake is a record of the inventory a business has on hand, which is commonly done at the end of the year. However, some businesses may perform stocktakes more regularly. An accurate stocktake is essential for making informed business decisions relating to inventory management and control. A successful stocktake gives you valuable insight into ... Read More
July 1, 2017 accurate inventory, accurate stock counts, inventory management, inventory tips, stock take, stocktakeStocktake day – 10 points to consider
An accurate stocktake is an essential part of inventory management as it provides a reference point for assessing other inventory components. ... Read More
April 19, 2017 accurate stock counts, business management, how-to, inventory tips, stocktake