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E-commerce Expert Insights: Q4 2024
The upcoming Q4 holiday shopping season is set to be one of the most lucrative and unpredictable yet. With a perfect storm of factors in play—ranging from shifting consumer habits and economic pressures to supply chain hiccups—this season will be anything but predictable. For e-commerce sellers, it’s not just about riding the holiday wave, but…
Shortage vs. Surplus: Causes and Definitions
Shortages and surpluses are similar in that they disrupt the flow of a business and can cause financial troubles and a loss of customers. However, they differ in numerous ways. The causes and solutions of shortages and surpluses are very different and require businesses to look within to determine what they can do to help…
5 Ways to Improve Inefficient Inventory Management
As businesses look for improvements in their companies, they should consider assessing their inventory management systems. Any kind of inefficiency can negatively affect your business, impacting how your customers view your services and how you compete with similar companies. Prioritize inventory management efficiency today and discover how you can improve it with five essential tips.…
7 Tips for Small Business Inventory Management
If you already own or are gearing up to start a small business, one thing you have to pay extra attention to is inventory management. For small businesses, inventory management is one of the most integral parts of the entire process. It helps you evaluate how well your business is doing and whether it’s on track for success. With these…
Controlling Warehouse Inventory Errors
Inventory management requires careful error control. While we have more ways to control warehouse inventory errors than ever before, we can still make mistakes. Integrating the right precautions into your workflow can help you reduce inaccuracies. Discover the kinds of warehouse inventory mistakes you can make and how to prevent them. Types of Mistakes in…
Understanding the Inventory Audit Process
Conducting an inventory audit can seem confusing at first. Fortunately, knowing what to expect and how to break it down will have you stock auditing like a professional in no time. There are steps you can take before and during the process to simplify it for you and your business and limit the disruption it…
Kitting and Bundling Best Practices for the Health and Beauty Industry
Determining how to best sell your health and beauty products is a great first step toward increasing your sales and improving your overall business practices. Kitting and bundling let your company create interesting product offers that excite customers and benefit your business. Great deals make shoppers more likely to continue buying from you. When you sell products,…
Best Excel Functions for Inventory Management
Inventory control formulas in Excel can increase the efficiency and productivity of your business as you become more organized in your inventory management. As your business grows, you need to keep up with the growing demands, and Microsoft Excel can help you do that. Download Our Excel Functions Template Below 20 Useful Microsoft Excel Formulas…
5 Reasons Why You Need an Order Management System
An order management system can shape the way you run your business, increasing your productivity and morale amongst your employees — and so much more. Here’s more on why you should consider making the investment and the benefits of order management systems. What Is Order Management? Order management is the process of integrating orders from…
Guide to Centralized Inventory Management: Is It Right for Your Business?
Inventory management can take many forms, but the two broad categories are centralized and decentralized. Centralized inventory management offers a way for businesses to address stocking, order fulfillment and more through a simple network. A centralized inventory system can be a great fit for many business types. Learn about the characteristics of this inventory style…
How Inventory Alerts Improve Efficiency and Performance
Inventory alerts are an essential component of effective inventory management. Low stock alerts can be the difference between whether your business fulfills an order. Mismanaged inventory can lead to issues like inconsistent stock levels, fulfillment delays or miscommunication between warehouses. Protecting your company from poor inventory management is crucial, especially for businesses with a multichannel…
What Is a Stock Transfer, and How Do You Do It Efficiently
If you’re interested in growing your e-commerce or small business, you may want to know more about stock transfers in inventory management. Stock transfers can quickly become complex, especially following an expansion, a move to a new location or the addition of a new storage facility. Let’s look at what a stock transfer is, the…
Leveraging Reorder Points to Maintain Stock Levels
Best Practices: Leveraging Reorder Points to Maintain Stock Levels It doesn’t matter if you’re a small start-up e-commerce business or a multi-warehouse giant, leveraging reorder points to maintain stock levels will have a positive effect on your day-to-day operations and help ensure that you capture every sale you can. Even before my previous e-commerce business was mature enough to justify an inventory…
Who Should Use ShipStation? A ShipStation Guide
As e-commerce businesses scale their operations, they need an order management tool that can keep up with growth while delivering on-target order tracking and reports. ShipStation is a popular solution that streamlines order fulfillment and stock management. The software gives businesses of all sizes the benefits of automating order processing and streamlining inventory supervision. With Finale…
The Benefits of QR Codes for Your Business
Quick Response codes, or QR codes, have increasingly grown in popularity and usage over the past decade, especially with the increase of social distancing due to the COVID-19 pandemic. In past years, you might have occasionally seen a QR code that led to an app download or social media account. But over the past several…
Soft vs Hard Inventory Allocation
Gaining control over your company’s inventory allows you to meet customer demand and minimize supply chain challenges. The key to inventory control is inventory allocation, which is the process of tracking inventory across your network. Your network might include warehouses, distribution centers and brick-and-mortar stores. With the correct allocation of stock, you can avoid stockouts…
5 Reasons Small Businesses Should Have an Inventory Management System
If your small business sells products, an inventory or stock management system is necessary. With an inventory management system in place, you know how much of an item you have on hand, when you need to order more and whether you’re ordering the correct amounts or not. While older methods of managing inventory typically involved keeping track…
What Is Inventory Shrinkage?
As a business, your primary goal should be to serve your customers well, which you can accomplish through staying organized and accurately managing your inventory. If you find your company experiencing inventory shrinkage, take the time to reevaluate your company practices. By remaining aware of your options, you can formulate a plan to prevent future…
What Is Store Inventory Control
From the beginning to the end of all retail operations, keeping track of your store’s inventory is crucial to maintaining efficiency throughout the rest of your business operations. Luckily, in today’s digitized world, inventory control systems make managing your store’s products easier than ever. Store inventory software can help your business thrive by introducing you…