Coping With Inventory Uncertainties: The probabilistic model of inventory control
Inventory control is exceedingly difficult if you go into it blind, with no tips and tricks and no supporting software. However, with the right knowledge and methods in place, it can be something you can manage and control with few problems. Part of the art of inventory control lies in the ability to adapt to […] ... Read More
May 24, 2019 business costs, inventory control, inventory management software, overstock, stock control, stock level, understockHow the Automotive Industry Manages Seasonal Pressures
Managing seasonal pressures in the automotive industry is an ongoing struggle for car dealers, repair shops and others in the auto business. Determining when stock levels need to be increased or reduced is largely based on previous selling trends, which for some businesses means relying on a limited field of data. In major car markets […] ... Read More
May 23, 2018 inventory control, overstock, understockFour Ways Bad Inventory Control Can Cause Chaos
In manufacturing, distribution and wholesale, your entire business revolves around inventory – having enough stock to keep the production line going and to keep customers happy is essential. Here are four ways we’ve seen bad inventory control cause chaos in business. Missing Valuable Sales Just as in the B2C context, B2B customers value rel ... Read More
March 29, 2018 inventory control, inventory software, overstock, understockWhy You Need To Know About Trade Discounting
Trade discounting is important to know about for over production of inventory stock as it can really help you sell inventory stock that would otherwise be obsolete. It can also increase the quantities of inventory stock sold too. Here we explain what trade discounting is and reasons for using trade discounting. What is trade discounting? […] ... Read More
December 6, 2017 overstock, pricing, pricing strategy, trade discountsThe Impact of the Seasons On Food Manufacturing
Changing seasons affect food manufacturers in a multitude of ways, some positive and some negative. Certain times of the year will increase demand for a particular type of food product or products, and other times of the year will see a dramatic reduction in demand for those same items. The seasonality of many food items […] ... Read More
October 16, 2017 food manufacturing, inventory management, overstock, seasonal demand, stock controlInventory control for distributors – success is within reach
To solve inventory control challenges, an inventory management software is imperative in providing an easy and effective solution, especially for manufacturers and distributors. The business of distributing involves matching the incoming product from a supplier to the ordered and shipped volume. In an ideal world, this results in little stored inve ... Read More
August 11, 2017 accurate stock levels, business costs, inventory control, inventory management, overstock, understockProduct Bundling: How to Take Advantage of Value and Convenience to Drive Sales
Almost any consumer will recall a time that they’ve gone to a store or visited a retailer’s store with the intention to buy one product, only to buy a second or even third product in the same visit. Product bundling is a simple but time-tested strategy, whether your business is a major retailer or boutique […] ... Read More
July 27, 2017 inventory management, overstock, product bundle, product bundling, valueWhy Accurate Inventory Levels are Essential
Inventory is vital for any goods sector business; retailers and wholesalers rely on inventory for sales, while manufacturers need inventory to keep the production process running. Being able to accurately determine inventory levels is important – too little and your business can’t function; too much and your business risks being swamped ... Read More
June 28, 2017 accurate inventory, inventory cost, inventory levels, overstock, overstocking, sales performance, under stock, understockingA Quick Checklist: Is Your Inventory Healthy?
Having good inventory management is a key factor to any successful company. Furthermore, ensuring you have the right levels of inventory is vital to any profitable company as it helps control costs, and in addition it acts as a bench mark to assessing your company’s overall health. Below we pose five questions to assess whether […] ... Read More
June 22, 2017 inventory health, inventory management, overstock, stock reorder, understockAccurate Inventory Records are Crucial for Success
Without keeping an accurate record of your company’s inventory, you risk dissatisfying your customers and ultimately, losing profit. Below, we summarize precisely why keeping accurate inventory records is crucial for the success of your business. Be Prepared An accurate inventory record first and foremost means that you are more likely to be able ... Read More
June 5, 2017 accurate inventory, business forecasting, customer satisfaction, employee satisfaction, inventory records, overstock, under stock4 Reasons Why Accurate Inventory Is Critical For Success
Knowing your inventory is critical. Here are four reasons why access to up-to-date, accurate inventory will keep you trading and protect your bottom line. ... Read More
May 5, 2017 accurate data, accurate inventory, overstock, stock shrinkage, understockOverstocking – from negative to positive
Being overstocked by nature isn’t normally a great problem to have. You basically have too much stock that you haven’t been able to shift — somewhere along the line something has gone wrong, be it a large order falling over, incorrect forecasting or stock mismanagement. However, let’s not look at this as a negative, but […] ... Read More
February 20, 2017 overstock, real-time analysisTurning overstocking into an opportunity
The reality is that surplus inventory is one of the largest costs for business these days and inventory management is one of the more challenging areas to control. A careful balance is required between reducing costs through streamlining inventory, and the need to meet the increasing consumer demand for product availability. Overstocking to ensure ... Read More
October 9, 2016 cost efficiency, inventory planning, lean inventory management, overstock, supply chain managementFive tried and true strategies to turn your overstock liability into a business advantage
Businesses that implement inventory management software, which integrates each node in the supply chain, are generally able to avoid running into an overstock issue. This is because it enables the ability to track, trace and account for inventory in real-time via the cloud. However, for those who remain ingrained in outdated inventory management s ... Read More
August 28, 2016 cost efficiency, lean inventory practices, overstock, supply and demand, supply chain managementHow inventory management software can maintain accurate stock
Getting a handle on accurate stock control and management is a must for all businesses who carry inventory. For many companies, this is one of their biggest ongoing investments and an area which can greatly affect profitability and overall operations.
Inventory management software provides a number of solutions and features, often with ... Read More
September 23, 2015 manufacturing, overstock, safety stock, supply and demand, understock