What is an Inventory Audit? An inventory audit uses analytical procedures to check a company's inventory methods and confirm if the financial records match the actual count. While counting all your stock items can sound mind-blowing, with the right tools, an inventory audit can be effective and valuable...

Has this ever happened to you? You go online to research the latest trend in laminated flooring for a do-it-yourself upgrade project you’re planning for your family room. You find exactly what you want at the website of a major home improvement chain and decide that since there’s a store...

Whether you run a manufacturing or retail business, what would you say is the “secret sauce” to greater productivity and profitability? According to an article in Industry Week, it’s understanding data, and being able to effectively use that data as a management tool especially when...

It’s getting harder and harder to ignore how technology is impacting how we do business, especially in the area of inventory management. We’ve said it before, and we’ll keep on saying it.  Retailers must get on the technology train to survive the future. There just is no good reason...

Here it comes – the holidays. Those omnichannel retail business owners who made the smart decision to implement a solid technology-driven inventory management system this year may be feeling very thankful indeed at the dinner table on the day before Black Friday’s kickoff into the holiday...

If you had to rate counting inventory for your retail business on a scale from one to 10, with one being the least favorite task to accomplish, what would your answer be?  It wouldn’t be a surprise if your answer were number one. Counting physical inventory can be slow and tedious. It’s...

Inventory shrinkage is a serious problem for companies that carry physical stock and it can be incredibly costly. Without the proper checks and measures in place, a business could suffer a significant loss of product, which can directly impact the bottom line. If you own a company that stocks inventory,...

Managing inventory can be challenging. The most efficient and effective way to do so is by implementing inventory management software. But what if you’re a business that’s just starting out and you’re working within a very limited budget? Are you stuck keeping track of items coming...

As with anything else in business, there is a right way and a wrong way to manage inventory. Many businesses make the same mistakes that ultimately cost time, money and aggravation. The good news is, most of these routine errors can easily be avoided, provided you are aware of what to watch for. Let’s...

If your organization has any type of inventory, developing strategies to manage that inventory most effectively is essential – regardless of what industry you happen to be in. Effective inventory management can save your company time, money and aggravation and also better prepare you for the future....

Managing a warehouse is no easy feat. Keeping track of what’s stored where, how much is in stock and any number of other inventory questions is critical to the ongoing success of your business. Without the right strategy in place, however, this can easily turn into a chaotic nightmare,...

If your company holds any kind of inventory, developing and implementing an effective management strategy is essential. We’re not talking about Excel spreadsheets. We’re talking about a quality system that will do more than just keep track of what’s on the shelves. Not convinced? Here’s...