5 Inventory Control Practices To Save You Money
Inventory control is the process of keeping track of inventory stock and monitoring the company’s stock levels across various platforms and locations. Getting inventory control right can save you money, increase cashflow and improve your competitive advantage. The following five inventory control practices can help streamline your business and sa ... Read More
April 3, 2019 abc categorisation, inventory control, stock control, supplier relationshipHow 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 business growth, inventory control, inventory management, inventory stock, inventory tracking, inventory turnover, stock controlHow To Improve Your Financial Health With Better Inventory Management
Small business owners may underestimate the importance of good inventory management. However, inventory management can be make-or-break when it comes to financial growth and long-term financial health. In this article, we explain how business owners can manage inventory to improve financial health. What does inventory management have to do with fin ... Read More
March 4, 2019 inventory control, inventory management, stock controlWhat Makes a Great Inventory Manager?
Being an inventory manager involves a varied set of skills. These skills need to span across a variety of touchpoints in a business. Not only do you need to manage the inventory, but you need to look after your staff who help you on the warehouse floor. It’s a crucial role that has responsibilities in […] ... Read More
March 1, 2019 inventory management, inventory management software, stock controlWhat Are Some of the Necessary Skills of Great Inventory Managers?
If optimal inventory control is imperative to maintaining a successful, sustainable and profitable business, then it’s obvious that capable inventory managers play a crucial role in achieving this. Inventory managers are responsible for leading a team of workers as they manage the flow of inventory stock in, through and out of the business. To do ... Read More
February 25, 2019 inventory control, inventory management, stock controlHow Can I Make Sure My Business is Ready for Action in the New Year?
You’ve had your Christmas party, you’ve shipped your final orders for the holiday season and you’re enjoying your time off. But it’s never too early to start thinking about the following year – and there’s plenty to think about when it comes to making the year easier on yourself and your employees. One of the […] ... Read More
February 8, 2019 inventory control, inventory management, inventory management software, stock control, stock take3 Simple Tips to Prep Your Business for Peak Periods
It’s very common for a business to earn a substantial amount of their revenue over a short period of time. Peak periods lead to an influx of sales and it seems to happen relatively quickly. These fluctuations are important to prepare for and even more important to capitalise on. Don’t miss out on the peak […] ... Read More
December 24, 2018 inventory control, stock control, supplier relationship, suppliers, supply chainWatch Your Cashflow Improve with Inventory Management
There’s a lot to think about when managing a business. One of the most important activities a business can do is to optimise cashflow. There are numerous approaches to refining the operational cashflow in a business. One of the primary keys to a healthy cashflow is inventory management. The following tips break down how you […] ... Read More
December 1, 2018 inventory control, online inventory management, stock controlA Stock Control Guide to Omnichannel Inventory
Omnichannel retail used to be solely the domain of large enterprises but building an eCommerce site or setting up an online marketplace is now much easier for smaller retailers and SMEs. The omnichannel pursuit, however, does have its challenges particularly when it comes to stock control. Inventory ownership The difficulty with inventory ownership ... Read More
October 9, 2018 inventory control, omni-channel, stock controlWhat You Need to Know About the Difference Between Pipeline and Decoupling Inventory
If your business manages inventory, you will appreciate how important it is to get it right. However, managing inventory can be complex. Depending on your business model and the products you are selling, there are different reasons for holding inventory. It’s not always clear and the art of managing inventory can be the result of […] ... Read More
September 25, 2018 inventory control, inventory types, stock controlTrue or False? Inventory Management Myths Debunked
Managing inventory, even as a smaller start-up business, can be a delicate balancing act requiring real dedication and commitment. There are innumerable myths about inventory management that plague the world of business and may even prevent new business owners from becoming successful. In this article, we dispel four common myths about inventory th ... Read More
September 22, 2018 forecasting, inventory management, small business, SME, stock controlFreeing up Manufacturing Inventory with Decoupling
Production lines and interdependent process stages can be a nightmare for manufacturing inventory management but understanding the use of management techniques such as decoupling inventory can ease the load in various stages of production. Decoupling inventory acts as a buffer against breakdowns in machine production rates that would prevent the ne ... Read More
September 13, 2018 inventory control, inventory management, manufacturing, stock controlStock 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 inventory management, inventory stock, stock controlThe Best Ways to Manage Dead Stock Inventory
With a big warehouse, managing inventory stock can be a challenge. It is a delicate balance to optimise your inventory stock if your warehouse stocks too little, you could lose customers, but if you stock too much, you might end up with dead stock. Dead stock can pile up in a warehouse. Before you know […] ... Read More
September 3, 2018 inventory management, stock controlUnderstanding Dead Stock Inventory
When inventory management effort goes into moving products off the shelves and optimising turnover rates, it’s frustrating when some merchandise does not sell. These products lurking unsold on your warehouse shelves are considered dead stock. It can be hard to get rid of dead stock and it can put a financial strain on your business. […] ... Read More
September 3, 2018 inventory management, stock controlHow Inventory Control Can Ease the Pain of Product Returns
Poorly managed inventory and product returns can wreck havoc on your inventory control and consume your margins. eCommerce has grown rapidly and the volume of returned goods has kept pace; more consumers return products purchased online than at brick-and-mortar shops. That means your business needs to be prepared to handle increasing numbers of pro ... Read More
August 20, 2018 eCommerce, inventory control, stock control5 Essential Reports for Effective Stock Control
Whether you’re in manufacturing, distribution or wholesale, knowing your inventory position inside out is almost a prerequisite for an efficient, scalable operation. Despite its importance to ensure the business is well-placed to grow, many businesses (SMEs in particular) don’t have the necessary inventory data to optimise inventory throughout ... Read More
August 20, 2018 inventory control, inventory management, inventory reporting, stock controlIncorporating eCommerce into Inventory Management
Using an eCommerce platform to sell your product is an effective way to reach more customers. It can help grow the scope of your business and provide momentum into new markets. An essential part of a successful eCommerce platform is supporting it with an online inventory management system. Keeping track of stock With online inventory […] ... Read More
August 13, 2018 eCommerce, inventory management, stock controlThe Important Players in the Supply Chain
The role of inventory in the supply chain is significant because the entire function of a supply chain is to move products and supplies, from one place to another while adhering to specific time frames. Supply chains consist of more than just a few functional teams. They encompass the areas of purchasing, manufacturing, logistics, marketing, [&hell ... Read More
August 11, 2018 inventory management, stock control, supply chainPlanning for Inventory Management in a Seasonal Business
For those businesses that operate in an industry that is seasonal by nature, inventory management becomes even more complex. Navigating seasonal fluctuations requires owners to have sufficient inventory control skills so that they remain profitable during the slow season and can survive through the off season. Planning is crucial and even if you on ... Read More
June 28, 2018 inventory management, seasonal demand, stock controlInventory Mastery: Where Should Online Businesses Start?
With consumers demanding quicker turnover and a larger product range, the online retail industry has to keep up with much more complex customer needs than a decade ago. Managing inventory well is essential for reaching customer expectations; let’s look at some easily achievable ways to get closer to best practice inventory management. Keeping dat ... Read More
June 26, 2018 distribution, inventory management, online inventory management, retail, stock control