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Inventory Management

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

6 Key Advantages of Inventory Management Software

As a small business retailer, you likely possess some kind of system in place for keeping track of the products you have in inventory. You need to recognize what you own, how much you have at present, and how much you need to order — and when! Is the way you manage inventory at present enough? Goods Order Inventory Management software allows for proper planning, real time inventory tracking, accounting integration, detailed analytics, and prompt… Read More

6 Reasons why you need Inventory Management Automation and Reporting

In today’s highly competitive business environment, retailers strive to achieve consistency, effectiveness & profit in their business but cumbersome manual processes continue to hurt them. Whether you are a wholesaler, manufacturer or retailer; inventory management can maximize the value of your business. Although E-commerce is showing an upward trend, firms are not yet aware of the importance of holding an automated inventory management system. When you’re a product-based company, inventory control is an obvious part of your… Read More

Quick tips for saving your Time and Money with Cloud-Based Online Inventory Management

As a business owner, it’s understandable that you want to keep costs low. After all, low costs and low overhead are meant more at the bottom line for the business, right? Basically yes, but what if those low-cost measures cost you more in lost opportunities? Basically, opportunity cost is the alternative cost or value of the next-highest-valued option. The notion of opportunity cost can come often in business and time is often what people give… Read More

Why Centralizing Inventory Management is a key factor to Increase Profit Margins?

Whether you are running a single store or selling over multiple channels- the success of your e-commerce business will depend on how well you manage your inventory. Because, if mishandled- a business can hamper product movements that immediately affects the profit margins. Is centralizing the new buzzword for managing inventory? When an order reaches your store, it is really significant to ensure product levels are updated. Manual updated across multiple channels can increase the risk of… Read More

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