Anyone who has experienced the joys of inventory control understands that one of the most critical components of this task is keeping costs down as much as possible. The key is striking the optimum balance by keeping only the amount of inventory on hand as is needed. Failure to do so effectively will...

Today’s technology enables businesses to connect and compete at an incredibly high level, and the warehousing industry is no exception. Things like cloud computing and advanced software have virtually revolutionized the warehouse management function, streamlining operations, maximizing efficiency...

In order for a manufacturing company to be successful, the production process must be optimized as much as possible. That includes managing employees, materials, inventory levels and costs in a way that maximizes efficiency and stays comfortably within the proposed budget. To follow are several tips...

‘Supply chain operations’ involves managing inventory in a way that maximizes efficiency, optimizes performance and increases profitability. It’s inclusive of the entire inventory process, from initial procurement of stock, to adequate storage and maintenance of that stock, and...

Like it or not, people make mistakes. Until we are able to shift the entire inventory management process to machines, the human element will remain to some degree, which means there will always be room for some type of error. As with anything else, some inventory mistakes are more costly and impactful...

Inventory management may seem like a standalone task, but in reality, it’s something that can be further optimized for benefit of the entire organization, provided it’s properly integrated with other key back office functions. If you haven’t yet done so or are still on the fence, here...

In terms of inventory management, most businesses opt to keep stock levels at a bare minimum. But there are certain upsides to keeping a higher number of items on hand, provided that you do your homework first and do so in a way that complements and supports your business goals. That said, here are some...

One of the most important components of inventory management is that of valuing the items you have on stock (or in-transit), both for pricing as well as accounting purposes. Not only does this help you manage your cash flow and keep your books balanced, but it also helps you determine how much to charge...

Managing a warehouse is no easy feat. There are a number of critical aspects the individual in charge is tasked with, from supervising staff to overseeing the shipping, receiving and inventory process to working with other departments to properly plan, measure and forecast and, of course, ensure optimum...

Have you ever considered using barcodes in your inventory management plan? Perhaps you’ve given it some thought, but decided against it due to concern over pricing and the overall assumption that implementing such a strategy is too big of an undertaking. While these concerns may have been warranted...

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...

As with just about everything else in business, there’s a right way and a wrong way to conduct an inventory count. While a few errors here or there may still occur even with the best inventory management strategy, an influx of consistent blunders could be costing your organization money. Here are...

When it comes to inventory management software, not all products are created equal and price doesn’t always indicate which one makes the most sense for your particular business. For instance, choosing the top of the line product won’t necessarily guarantee the software will be a good fit....