Featuring Our 10 Best Inventory Management Articles!

Inventory is often the single largest asset in most companies across any industry. It consumes a lot of cash, impacts return on investment and profitability, enables or impedes growth and customer satisfaction, and requires a tremendous amount of resource to manage it. Inventory Management is critical. Yet a lot of companies big and small, well … Continue reading “Featuring Our 10 Best Inventory Management Articles!”

11 Inventory Management Best Practices! (Infographic)

Supply chain leaders are continuously looking for inventory management best practices, and the role of technology in the supply chain offers significant advantages. Instead of relying on traditional, outdated inventory management best practices, supply chain leaders should follow these 11 steps to leverage technology and improve inventory management at last.

What is Inventory Management?

Inventory makes the world go round. Stockpiles of raw materials, components, sub assemblies, finished goods, returned goods, and reclaimed and refurbished materials enable all aspects of industry to function and all aspects of the economic engine to run. Trillions and trillions of dollars of inventories exist all over the world in every conceivable form and … Continue reading “What is Inventory Management?”

Mastering Small Business Logistics: Streamlining Efficiency through Inventory Forecasting!

In the dynamic world of small business logistics, the ability to optimize inventory management plays a pivotal role in achieving operational excellence. Efficient inventory forecasting is the cornerstone of successful logistics operations, empowering businesses to maintain optimal stock levels, reduce costs, enhance customer satisfaction, and drive growth. Let’s delve into the realm of inventory forecasting, … Continue reading “Mastering Small Business Logistics: Streamlining Efficiency through Inventory Forecasting!”

5 Inventory Management Mistakes to Avoid!

A very important part of many businesses is managing inventory. Companies in all different industries need to have inventory in stock in order to remain afloat and deliver their products to customers in a timely manner and avoid inventory management mistakes. Managing this inventory is very important and should not be underrated or ignored by … Continue reading “5 Inventory Management Mistakes to Avoid!”

Are Ghost Assets Haunting Your Inventory Control?

Imagine an asset that, instead of contributing to a business’s success, costs it money without producing return, makes it harder to get an accurate picture of performance and otherwise hinders its success. It’s a scary picture for any business owner or employee—and for many, it’s all too real. These assets are called ghost assets, and they’re … Continue reading “Are Ghost Assets Haunting Your Inventory Control?”

The Go-To List of Ways to Improve Inventory Management!

Today’s warehouse managers need to improve inventory management strategies. Shareholders want to increase profitability. Customers wish for better customer service. Amazon wants to take over the world. This is nothing new, but as the world has evolved, the ability to improve inventory management has evolved in stride. Supply chain leaders should follow these key strategies … Continue reading “The Go-To List of Ways to Improve Inventory Management!”

Double Inventory Turnover In 9 months!

“We are a Supply Chain Services Company,” I was told. “If we are truly a Supply Chain Services Company, then why is our Inventory Turnover only at 7?”,  I asked. I had just joined the company and in studying their financial performance it stood out to me that if we were truly a Supply Chain … Continue reading “Double Inventory Turnover In 9 months!”

Featuring Our 12 Best Procurement Articles!

Procurement is a core function in every single company. Whether purchasing goods or services to support the company’s product offering or purchasing goods or services to support the infrastructure and operation of the company, Procurement is key and featuring our best Procurement articles is more than appropriate. Depending on the type of industry you are … Continue reading “Featuring Our 12 Best Procurement Articles!”

Effective Inventory Management Keeps Your Business Thriving!

Effective inventory management is one of the most important aspects of running a successful business. It can be the difference between having the right products in stock when your customers need them and being caught short. Good inventory management means having visibility into your inventory levels at all times, so you can make sure you … Continue reading “Effective Inventory Management Keeps Your Business Thriving!”

The Exciting Use of Drones for Inventory Control!

In my experience companies always had a need for Inventory Control and an annual inventory count during which all operations were shut down for at least 2-3 days. Even then there would a period during which records were being reconciled before operations could resume normal function. On top of the annual inventory count there were … Continue reading “The Exciting Use of Drones for Inventory Control!”

A Basic Guide to ECommerce Inventory Management!

In this digital age, one of the best ways to earn money is to sell unique products online with the help of an eCommerce platform, such as Amazon, Alibaba, etc. However, to have a profitable online selling business, it’s crucial to understand the importance of inventory management in eCommerce.  An effective inventory management system is … Continue reading “A Basic Guide to ECommerce Inventory Management!”

World Class Inventory Turnover Infographic!

Achieving World Class Inventory turnover performance is an aspiration, a requirement and a challenge for many companies.  We’ve written several blogs on this subject to share our experiences in achieving truly game changing results in inventory management. Attacking just a single element of inventory has, in our experience and observation, proven to be an insufficient … Continue reading “World Class Inventory Turnover Infographic!”

What is Inventory Shrinkage?

There are many terms for inventory shrinkage: warehouse shrinkage, product shrinkage, loss of product. They all amount to the same thing — your merchandise is missing from the warehouse shelves. For businesses that sell physical things, some amount of shrinkage is unavoidable. At point of sale, stores can experience retail shrinkage from breakage and shoplifting. … Continue reading “What is Inventory Shrinkage?”

5 Inventory Management Tips for Manufacturing SMBs!

Inventory management is a holistic and logical methodology for handling both raw materials and finished products. It encompasses several manufacturing SMBs processes such as tracking stock levels, planning production schedules, and liaising with vendors.  Raw material inventory management represents a vital stage in the successful supervision of any manufacturing company’s supply chain. Without it, the … Continue reading “5 Inventory Management Tips for Manufacturing SMBs!”