To build a sustainable, scalable company in today’s business environment, you need to use tools that help you streamline tasks, improve productivity, and leverage data in real-time. The right system can put you on the right track. An inventory management system is vital for companies, no matter the size. In addition, systems such as ERP, CRM, […]
Inventory Management
Inventory Management for the Utility Industry
A recent study was conducted to determine the current state of warehouse and inventory management operations throughout the utility industry. Companies were asked about their inventory visibility and segmentation, stock level criteria practices, and safety stock level determinations. Although utility companies recognize the importance of inventory management, 60% reported poor inventory optimization performance. So what can be done to improve […]
Inventory Management for the Food Industry
Inventory management is essential for any and all industries, but it is particularly important for the food industry. The food industry is complex and has many different components. One of the main differences that set the food industry apart from other industries is the quantity of perishable items. They face a number of challenges such […]
Inventory Management Affects Your Customers’ Experience and Sales
According to Bill Hardgrave, a professor at Auburn University, “Accurate inventory is the single thing retailers have got to get right for everything else to work.” The moment shoppers began to buy across several channels, inventory management became more complex. Consumers are expecting fast and accurate orders, and want complete transparency into the entire order fulfillment process. This visibility is […]
Time’s Up! Stop Hitting Snooze & Update Your Inventory Management System
It’s common to delay fixing a problem until you no longer can. A weak inventory management system triggers problems, which can’t be fixed overnight. Once you realize where the gaps are in your system, you can take steps to fix them. This blog will help you identify your inventory management problems, and show you how […]
The Ghost Economy & Inventory Risk Explained
In a research report in 2015, IHL Group, a retail analyst firm, found that $1.75 trillion dollars are lost every year due to the ghost economy. The term ghost economy is unknown to many retailers. It’s the hidden costs that appear due to inefficiencies that are preventable. They are made up of many components. Instead […]
