3 Inventory Costing Methods to Consider When Valuing Your Stock

How much have you spent on your current inventory? How much did you spend on inventory that you’ve already sold? These are some of the most critical things retailers should be asking, and believe it or not, there is no one “right” answer to these questions, because of the various inventory costing methods out there. What is Inventory Valuation? Inventory costing or valuation is an accounting concept that has a direct impact on your gross… Read More

Is QuickBooks Online good for inventory management?

QuickBooks is a phenomenal piece of software for businesses to keep track of their accounts. But is QuickBooks Online good for inventory management? The short answer is no, especially when it comes to ecommerce retailers selling across multiple online channels. While there are benefits to using QuickBooks inventory management, most growing businesses will need much more robust software that can push data over to QuickBooks to complete their accounts. Here, we discuss why. Why we require… Read More

Enhance your business with Serial Number Tracking for your Inventory

A way to keep their inventory in check is required by each and every manufacturer, supplier, wholesaler, retailer, and business organizations to manage their stock. Without a well-defined system, any business will suffer from confusion, delays, and errors during the day to day operations. What Is Serial Number Inventory Tracking? Organizing and accounting for an entire inventory of items is difficult to work, and having a complicated system in place can result in inefficiency and… Read More

Top 4 Benefits of Having Multi-Warehouse Inventory

Even if you have advanced cloud-based inventory management software in place, it’s still a good idea to build multiple warehouses for your products as your business expands. Many companies realize that one warehouse isn’t enough to fulfill the demand, the online shopping world grows, and the demand for fast delivery increases. At that place, multi-warehouse inventory systems come in and play an important role. What Is Multi-Warehouse Management for Businesses? A multi-warehouse inventory system generally… Read More

Want to take your business to the next level with Inventory Management Software

Your customers are becoming more discerning, your competition is a lot more-fierce, and there’s pressure on you to bring new products to the market. How do you keep up? You might be surprised to see that there are at least six ways an inventory management system can help.  Let’s take a look at inventory management software is so vital, especially business keeps changing and changing fast. IT ENHANCES YOUR EFFICIENCY If you tend to notice… Read More

Control Your Expenses by using Inventory Management

Spending too much on inventory management? Want to reduce your costs and boost your margins? What is inventory management? Inventory management is the act of keeping track of a company’s stocked goods and management is to minimize the expenses occurred during holding inventory or stocks which helps business owners to know when it’s time to replenish products, or buy more materials to manufacture them. Essential inventory management techniques The cost of inventory can quickly add… Read More

How to Analyse and Minimizes Inventory Overstocks and Understocks?

Goods Order Inventory System is a cloud based inventory and order management system that caters all types of businesses and runs over platforms What Do Under-stocking and Over-stocking Mean? In stock administration world, overloading passes by a couple of various names, for example, overabundance stock, abundance stock and stock overflow.  Conversely, under-stocking is the point at which an organization needs more stock to stay aware of the interest. Reason behind Over-stocking and Under-stocking Inaccuracy in… Read More

How to reduce Inventory stock loss

Inventory stock loss refers to the difference between the physical count of your stock and the amount your records say you should have. It is something that retail companies are wary of. It can be caused by several factors such as theft, damages, spoilage or administrative errors on stock movements. In order for you to prevent Inventory stock loss, you need proper inventory management strategies. Good Order Inventory Management will help you automate your workflows so… Read More

Moving to a Cloud based Inventory Management System

Making the switch to a Cloud based inventory system can sound intimidating to those who have always relied on traditional methods to track their products. The truth is that most Cloud based inventory system designs are intended for people who want to streamline the business process. They aren’t overly complicated because they know you are busy and do not have time to learn a complex system. Cloud Based Inventory System Set Up Setting up a brand new inventory… Read More

Top 6 questions to ask when choosing an inventory management system

Many businesses moved from inventory management system solely maintaining records and reporting on inventory to more strategic inventory requirements to plan, project and fill customer orders and improve profitability. If you’re choosing which type of inventory management system your business needs, and trying to narrow it down from the many different types on offer, here are some questions to ask yourself to help select the right one for your business. What type of business are… Read More

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