The Teetering Relationship Between Inventory Control and Profit
The control of inventory and the effect it has on a company’s profit is inextricable and should be duly noticed by anyone attempting to manage sales and inventory. What many companies fail to fully appreciate is that inventory and cash can often be thought of as one and the same. If too much cash is […] ... Read More
April 30, 2019 business performance, inventory control, inventory management, inventory storage, profitabilityInventory Control Impacts Profit: Make It A Positive Impact
Inventory control is something that all businesses need to get right, particularly as it is directly correlated to influencing business profitability. Factors such as how you source and store inventory stock and your approach to inventory control impacts profit. Therefore, effective inventory control is vital to maximising operational efficiency an ... Read More
April 4, 2019 business growth, inventory control, inventory turnover, profitabilityIs Your Inventory Management Helping Your Bottom Line?
Do you know where your wallet is right now? Sure, every so often you misplace your wallet. It might end up in the pocket of a pair of jeans on the floor, but it’s safe to say that 99% of the time you know where it is. This is because wallets are our important personal […] ... Read More
March 22, 2019 inventory cost, inventory management, inventory turnover, profitability, stock turnoverMark-ups and margins: Making a profit without the mess
As customers, we all know the frustration when we feel products have been priced substantially higher, creating a very expensive purchase price. What exactly is a mark-up in accounting terms and how does it differ from a profit margin? Mark-ups and margins have sadly been used interchangeably without their true meanings being properly understood. H ... Read More
October 27, 2017 business costs, profit margins, profitabilityMixing up mark-ups and margins?
Margin and mark-up have long since been a source of confusion and an improper understanding of the two can lead to some detrimental effects in terms of loss of income. So, delve in with us and learn about mark-ups and margins! What’s in a word Perhaps one of the keys to understanding these concepts is […] ... Read More
October 20, 2017 business strategy, pricing strategy, profit margins, profitabilityStock Management Improvements For Better Performance
Stock management affects a company’s performance in many ways. Too little stock can lead to a reduction in sales and a loss of customers, and too much can drastically inhibit profit. It is therefore crucial that managers find an equilibrium between the two extremes. Stock management methods can greatly influence the productivity and profitability ... Read More
August 17, 2017 business performance, inventory levels, inventory management, profitability, stock managementHow best to manage the risks you could be exposed to in your supply chain
There are many risks in the supply chain that can drastically affect a company’s profitability, reputation and ability to function optimally. These risks, in recent times, have been multiplied through things such as globalization, piracy, economic crises and exchange rates. Also, the move towards instant gratification and needing everything right ... Read More
October 24, 2016 lean inventory, profitability, risk management, suppliers, supply chain managementWhy accurate inventory management matters
There is nowhere to hide when your business runs into inventory surplus or shortages. The bottom line will take a beating, customers will turn away from you and the overall productivity of your operations will grind to a fraction of what they should be in terms of profitability and efficiency.
... Read More December 21, 2015 inaccurate data, inventory accuracy, productivity, profitability, real-time solutions