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, understockThe Consumer Response to Stockouts Can Significantly Impact Your Business
The one constant between eCommerce channels and brick and mortar stores is the critical importance of inventory stock availability. Consumer response to stockouts varies but will generally have a negative impact on your business or brand. For retailers, stockouts lower the impact of promotions and can increase operational costs through the provisio ... Read More
May 16, 2019 inventory control, inventory stock, stock control, under stock, 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, understockHow the Grocery Price Wars May Affect Your Business
Prices of supermarket products declined by 1.3% last year in the U.S., the first annual decline in these products since 1967. This has obvious benefits for customers, but it can greatly hinder the profitability of businesses in the food industry. Increasingly lowering the cost to the consumer has had a snowball effect, so that almost […] ... Read More
October 5, 2017 inventory control, inventory management, understock, US, USAInventory 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, understockHow Understocking Can Affect Your Business
Having too little product on hand can have far-reaching consequences for your business. Take for example the retailer Lululemon, which implemented a strategy of lean inventory in its stores. The combination of supplier issues and a website migration resulted in widespread dissatisfaction as the company had a lack of inventory available for purchase ... Read More
June 30, 2017 customer satisfaction, inventory levels, understock, 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, understock4 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, understockCorrect Inventory is Crucial to Business Success
In a stock-centric industry such as retail, inventory is typically one of the business’ largest assets. Keeping an accurate record of inventory levels and performance is critical to realizing the full potential of your business. Here are some ways that investing in accurate inventory information (and, in particular, correct inventory levels) will ... Read More
February 24, 2017 inventory levels, understock, understockingThe Risks of Having Too Little Inventory
The costs of holding excess and stale inventory are well documented and understood; handling and storage costs, depreciation and shrinkage can easily eat into your profit. Less well understood, however, are the knock-on effects of having too little inventory. If your business carries too little inventory, there is a risk of running out of stock, mi ... Read More
October 12, 2016 cost efficiency, customer satisfaction, inventory forecasting, order fulfillment, understockHow 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