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

Things to consider while choosing Cloud-based Inventory Management Software

Whether you are an enterprise selling your products online, or an individual business owner trying to use the various online selling platforms to make a profit, an inventory management system is a must for you. Here are a few tips on how to choose the right inventory management system for your needs. What is an inventory management system? An Inventory management system is anything that helps your selling process to run efficiently, right from the… Read More

How to Choose the Right Inventory Tracking Software

Let’s cut to the chase. If your business carries more than five stock items that are sold for profit, you need inventory tracking software. The age of inventory management on spreadsheets and log books is over. Paper-based inventory management invites errors and costly mistakes that hinder company growth and profitability. Companies still searching spreadsheets on a shared drive for inventory data are putting their company at risk, especially in an increasingly competitive marketplace. Yet in today’s… Read More

Five ways to Reduce Inventory Cost

Managing inventory is still a challenge for small and medium businesses, which struggle with keeping costs under control in this field. Whether you’re a restaurant owner, a small manufacturer, or a web shop owner, you need to take a closer look at your inventory if you want to lower your costs. A high level of inventory and poor turnover can influence business efficiency. It’s not just about the money you block in your inventory, but also… Read More

5 Smart Ways to Optimize Your Inventory

When it comes to a ‘perfect inventory management’ for wholesalers and distributors, it can be simply defined as a process implemented to maximize a company’s use of inventory. The goal of inventory optimization is to generate maximum revenue and spend least on inventory management processes without compromising on customer satisfaction levels or business workflow. There are a number of ways to ensure that your inventory management system is well-optimized for maximizing efficiency and profitability. Below… Read More

Why Using an Inventory Management Excel hurts your Business?

If you run a small business – or if you used to run one and your business has gotten bigger – you’re probably familiar with Excel. This versatile little piece of software is great for budgeting, accounting, scheduling, project management, customer relationship management and more. In particular, Excel can be a really handy tool for inventory control and management when you’re just starting out. Whether you’re operating out of a garage or a small retail shopfront, Excel… Read More

Top 8 Strategies to Optimise your Inventory Management System

Inventory optimization is the provision of the right inventory, in the right quantities and at the right locations, to meet the supply and demand of parts and materials in the enterprise. Significant benefits exist for organizations that optimize their inventory by reducing inventory items and stock levels, thus avoiding associated carrying costs and obsolescence write-downs. Indirectly, organizations can generate savings by using time formerly spent on inventory management to ensure physical assets’ reliability and availability.… Read More

6 Reasons Why Small Businesses need Cloud-Based Inventory Management System

Small businesses, particularly those that are growing, often struggle with inventory management. Many end up utilizing outdated or manual processes that are anything but efficient. As a company grows, however, inefficient inventory management becomes a major headache rather than a minor annoyance, and the need to improve inventory management processes becomes both real and urgent. Accurately tracking and controlling your inventory is one of the most essential components of inventory management for small business. Getting it right… Read More