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Topic: stock management

The Difficulties of Inventory Management and the Approach you Take

The difficulties of inventory management can be minimised simply by utilising purpose-built software, tried and true methods and adjusting one’s approach to it. In this article, we consider the difficulties of inventory management with particular attention to the reactive and proactive approaches to stock control. Reactive inventory control This ... Read More

  July 13, 2019     

3 Causes of Dead Stock Inventory That’s Costing Your Business

What is dead stock? Dead stock inventory are items in your business that has not been or cannot be sold – inventory that has never been worn, used, or sold and has been on shelves for an extended period of time. Businesses that do not use good inventory management systems can end up having dead […] ... Read More

  September 17, 2018     

Managing Supply Chains Effectively During the Holiday Season

Gift giving is a major part of the holiday season. As a result, the holiday seasons is hectic, not only for the consumers, but also the retailers and manufacturers supplying the gifts. Supply chains and logistics processes must be in place in order to satisfy consumer demand, with supply chain management a critical part of […] ... Read More

  March 7, 2018     

Critical Practices for Sound Inventory Management

Inventory management is crucial for a company. Holding inventory stock ties up a lot of a company’s cashflow and just like cash flow it can either make or break a business. Great inventory management can save your business money. Here are some good practices when it comes to sound inventory management. Avoid Wasting Stock Sound […] ... Read More

  December 21, 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     

Understanding What Is a Stock Take

A stock take is a record of the inventory a business has on hand. A stock take needs to be conducted at least once a year but with the right processes and systems in place, businesses should conduct stock takes more regularly to ensure greater visibility of their inventory. Proper inventory control is a key […] ... Read More

  November 29, 2017     

Seasonality and Business Cycles: The Key Difference

Seasonality refers to fluctuating business conditions that correspond to defined seasons, such as winter or Christmas time. During peak seasons, demand tends to be high, and supply chains are typically strained. Inventory stock is often in short supply. On the other hand, businesses often struggle with low cash flow during the off season and experi ... Read More

  October 10, 2017     

Top Reason For Holding Stock

The primary reason for holding stock is to generate revenue through the sale of goods and services. To avoid the risk of a stock-out occurring and the subsequent potential towards lost sales, a company will typically hold some level of stock on hand. This is generally referred to as buffer or safety stock. The clothing […] ... Read More

  September 20, 2017     

Barcodes Simplify Stock Management for Food Manufacturers

The market for processed foods has undergone a significant transformation in the past decade, with a decisive shift towards premium, health-focussed products. This trend is particularly evident in the snack products space, where producers have experimented with innovative ingredients and have responded to customer demand for organic, natural and et ... Read More

  September 19, 2017     

How Inventory Management Software Informs Better Business Decisions

Inventory management software can be costly, especially if you are a small business. However, if incorporated into a business properly it can become quite the asset. We look at five ways that inventory management can help inform better business decisions. Time saver Good inventory management software allows you to keep on top of your inventory, [&h ... Read More

  September 18, 2017     

Factors Impacting Inventory Management

Understanding what impacts your inventory management system is crucial, regardless of what type of business you run. These factors can influence your business profitability in ways you might not have considered! Factors That Affect Inventory Management Product Availability Product availability is something to consider when identifying factors that ... Read More

  September 2, 2017     

Stock 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     

Why correct inventory levels are a must

Keeping correct inventory records is a major management tool for any business that carries inventory. Businesses need to be able to rely on accurate inventory levels to operate and fulfil client orders. Here are some of the key benefits from accurate inventory management: Correct inventory levels are essential for planning By having correct invento ... Read More

  August 1, 2017     

Four Proven Ways to Streamline Your Inventory Management

Inventory management is a core business function which is responsible for all decisions about all goods and materials in an organization. Effective inventory management involves ensuring that policies, activities and procedures are in place to make sure the correct amount of each item is held in stock at any time. Let’s discuss four proven ways [ ... Read More

  July 20, 2017     

Inventory Turnover Ratio: What is it telling you?

The inventory turnover ratio is the number of times a business sells and replaces inventory within a specified period. In effect, the inventory turnover ratio determines how long a company takes to sell its on-hand inventory and helps a business determine how well they are performing. Calculating Inventory Turnover The first task in establishing yo ... Read More

  June 6, 2017     

When is Stock Considered Inventory?

For many businesses, inventory is one of the largest items on the balance sheet, so it is important to understand what constitutes inventory. In essence, inventory refers to the stock that a business has on hand – whether that stock is raw materials or a finished product. A more nuanced understanding can be difficult – […] ... Read More

  May 13, 2017     

Avoid stock run outs with per warehouse controls

Keeping inventory records on Excel spreadsheets has a fatal flaw for businesses – they won’t tell you when it’s time to purchase stock, or move stock between locations to ensure optimal inventory levels. ... Read More

  December 14, 2016