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Topic: stock levels

Enhance Your Processes with these New Unleashed Enhancements

Interested in our latest Xero enhancements? Based on great customer feedback, we’ve been working on enhancing Unleashed to help increase efficiency in your business. You’ve asked us for additions that will make a difference in your day-to-day operations, so here are some new small but mighty enhancements that your team will love. Filter by sell ... Read More

  December 11, 2018     

How You Can Overcome These 5 Challenges of Managing Multiple Warehouses

Many benefits can arise from adding extra warehouses such as reduced shipping costs by adding new warehouses closer to customer locations, added storage capacity where extra warehouse space may be needed, warehouses for specific purposes that can simplify warehouse management to contingency plans to alleviate risk, such as if one warehouse is taken ... Read More

  November 21, 2018     

5 Easy Tips to Reduce Your Inventory Shrinkage

When your physical stock in the warehouse doesn’t agree with the inventory on record, you’ll have a problem on your hands. You now have the onerous task of figuring out where the rouge inventory went so you can reconcile the numbers. This is what we call inventory shrinkage. It occurs where inventory disappears or cannot […] ... Read More

  October 16, 2018     

Understanding Stock Take Discrepancies and Why They Happen

A stock take discrepancy can present a real problem for businesses, potentially costing the bottom-line in lost sales, build-up of surplus stock, and perhaps most detrimentally – creating dissatisfied customers. Accurate stock recording and inventory management are essential to understanding a company’s true capacity to meet and capitalise ... Read More

  October 13, 2018     

4 Wins for Demand Forecasting Success

Predicting demand accurately is an extremely pivotal part of running any company which is in the business of selling goods or services. Without being able to predict ebbs and flows in demand, inventory managers will inevitably struggle to keep things running effectively. In this article, we explain why forecasting demand accurately is so important ... Read More

  October 8, 2018     

Zero Inventory: The Benefits of Owning Less

Zero inventory refers to the idea of little to no stock kept on hand and orders are fulfilled using the Just-In-Time (JIT) business model. This is implemented by major companies and lean manufacturing leaders, such as Toyota and Dell, and serves its purpose of keeping inventory costs low, reducing the risk of obsolescence or spoiling […] ... Read More

  October 6, 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     

Cycle Stock and Why It’s Important for Inventory Management

Inventory management is a complex process which can involve the input of multiple parties, suppliers and producers, and can sometimes be driven by factors beyond the control of business owners and staff alike. For this reason, it is important that business owners understand key terms and phrases used when discussing inventory management, in order t ... Read More

  September 8, 2018     

The Differences Between Stocktakes and Cycle Counts

Neglecting inventory tracking will set you up for things like delayed orders, unhappy customers and false inventory reports. However, accurately keeping track of your inventory can greatly enhance your chances of success. There are two primary methods for doing so – namely, cycle counts and stocktakes – and this article explores both. Stocktake ... Read More

  April 5, 2018     

Taking Stock to Maximise Your Bar or Coffee Shop’s Profit

Stock taking is essential in any business to forecast what stock you will need to purchase given how much you sell. Getting it right is essential for your business to maximise profit and minimise waste. Taking stock regularly allows you to to evaluate how much product is used on a regular basis, meaning you can […] ... Read More

  January 17, 2018     

7 Inventory Management Techniques to Master

Understanding what you have in your warehouse, what you need to order in the coming weeks and what inventory is going into which product batches – it’s all crucial information for any stock-based business. Inventory management is important to keep stock-based businesses running. Here are seven basic techniques to get your inventory under co ... Read More

  January 11, 2018     

How to Optimise Inventory Control

Inventory optimisation makes sound business sense. Applying best practice approaches to inventory control will improve competitive advantage and profitability. The primary goal of optimisation is to get the balance right between supply and demand. Having the right stock on-hand to service consumer demand while trying to reduce inventory carrying co ... Read More

  January 9, 2018     

The Significance of Stock Control

Maintaining inventory can feel like a delicate balance that is infinitely wavering. If you don’t have enough inventory, the repercussions can set a business back in the form of lost sales. Conversely, if you have too much inventory on hand, it can add up to be a very expensive exercise for the business. Having an […] ... Read More

  December 30, 2017     

Is ABC Analysis Affecting Your Inventory Stock?

The ABC analysis is an inventory categorisation technique. It can be put to use for a wide range of inventory items, such as manufactured products, components, spare parts, finished goods, unfinished goods or sub-assemblies. The ABC analysis suggests that inventories of an organisation are not of equal value. Thus, the inventory is grouped into thr ... Read More

  December 29, 2017     

Inventory Control: Balancing Inventory and Demand

Having enough inventory should be one of the biggest priorities for any stock-based business. Running short means missing sales and letting down customers, while carrying too much involves tying up lots of capital to buy and store inventory that your business doesn’t actually need. Inventory managers have approached this balancing issue in two di ... Read More

  December 27, 2017     

Highlights of Inventory Management Software

Inventory management software is changing the way businesses operate. It’s a modernised system, bringing benefits and positive results to companies big and small. Like all technology, this software is constantly evolving. Part of that evolution means it is becoming more and more adaptable to a variety of business scenarios. Inventory management s ... Read More

  December 26, 2017     

Learning the ABCs of Inventory Management

Inventory management is of the utmost importance to any company as unhealthy inventory stock levels can quickly spell disaster regarding the ability to supply and the bottom line. Gaining inventory control can be difficult at the best of times, however there are some tried and true methods which can make the road to inventory control […] ... Read More

  December 25, 2017     

Stock Taking for the Drinks Industry

Inventory management and stock taking are painful processes for any business, however it seems it can be a far more daunting task for the drinks industry due to the level of estimation required and variances in the quantity of product sold. If you are a bar owner however, do not despair as there are tried […] ... Read More

  December 25, 2017     

How to Resolve Stock Take Discrepancies

Performing a complete stock take at least once year can be tedious, however it is critical for maintaining healthy inventory levels and minimising losses in a business. Stock take is important because it reveals discrepancies between inventory stock records and the number of stock you actually have. Uncovering the issues that attribute to stock los ... Read More

  December 20, 2017     

The Art of Improving Inventory Management

Inventory management is a key component of small, medium and large businesses. If there is one thing that they all have in common, it is that there is always room for improvement. Getting the right level of inventory can be a delicate balance between ordering too much and having too little on hand. There are […] ... Read More

  August 31, 2017