Inventory is an important asset for a business. However, this asset can be costly if not moved quickly. In fact, holding inventory can cost you a whopping 25-30% more than its unit value. These costs can include taxes, storage, damage, theft etc. But not your Opportunity Cost, which is another 15% or more. In today’s competitive […]
Inventory Management
The 5 Golden Keys to Managing Your Inventory Around the Holidays
The holidays can be a stressful time, especially when it comes to inventory management. By considering these five keys, you can unlock a stress-free holiday season. Predictive Analytics Problem: Inventory forecast numbers are inaccurate and firms are either left with a shortage amidst the holiday rush or excess inventory in the new year. Solution: Predictive analysis […]
After the (Candy) Rush: Post Halloween and Inventory Management
What do you think about when you hear ‘Halloween?’ Candy? Costumes? Scary Movies? Unsurprisingly, inventory management professionals are thinking about the same things from a different perspective. They are thinking about the logistics of the holiday. How much candy to order, what costumes to stock – and how scary business will be if their forecast is […]
Are You Ready For Inventory Management Software?
Managing inventory in today’s fast-paced world can be a daunting task. For this reason, many organizations are using specialized inventory management software. It provides them with the ability to manage inventory and analyze trends effectively. However, many companies are still asking one important question: “Is my organization ready to implement inventory management software?” Is there an inventory system out […]
Investing in Inventory Software Can Save You Money
Investing in inventory software can be a big step for any organization. The question that most firms want an answer to is: “What will my return on investment (ROI) be?” The answer is largely the same: You get what you put in. Inventory processes vary for different organizations. So, inventory software that caters to your individual needs […]
Inventory Management Automation: Why companies aren’t doing it, and why they should
Inventory Management Automation is a growing trend. This is because it brings many benefits to firms. What exactly are these benefits? Well to name a few, it increases efficiency, improves accuracy, and is scalable to company growth. It has proven to be effective for many organizations ranging in size and complexity. Despite these benefits, many companies are […]
