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Cin7 vs Finale: Inventory Management System Review and Comparison
If you’re investing in an inventory management system, congratulations. It’s a sign that your business is achieving new levels of success – and experiencing the growing pains that come with it (overselling, over- or understocking, incorrect shipments, etc.). With sales most likely originating in a variety of online and offline channels, with multiple stock locations…
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The Ultimate Ecommerce Cheat Sheet [Free PDF]
Download this free PDF to kickstart your ecommerce business. Learn how poor tracking and multi-channel sales can hurt your ecommerce success. Download this free ecommerce cheat sheet for solutions to learn about ecommerce KPIs, acronyms, and metrics.
Understanding Raw Materials: Definitions, Formulas, Types, and Importance
Learn about raw materials in ecommerce: definitions, formulas, types, and importance. Discover strategies for effective management and sustainable sourcing.
Demand Planning With Inventory Management
If you aren’t sure how much product your store or warehouse needs, it’s time to incorporate demand planning into your business. Demand planning is the first step in supply chain management. It’s a process in which a team determines how much product needs to be ordered for a business’s future. Demand planning is crucial to…
How to Use Freebies to Address Stock Challenges
When you have leftover products, you may wonder how to sell them. Selling excess inventory can be difficult because a large stock often means the demand for your product was lower than anticipated. There are ways to get rid of those extra products, though — two solutions are promotion and freebies. How Retailers Approach Stock…
How to Reduce Shrinkage in Retail
When you are looking over audits, paperwork and receipts, you may feel your stomach drop if the numbers are not adding up. Shrinkage is a problem that many businesses suffer from every year. If you’re searching for ways to keep your inventory and sales numbers in line, follow our guide to prevent shrinkage in retail. …
Managing Preorders to Boost e-commerce Sales
Are you getting ready to bring in a new product that you’re hoping will boost your business’s e-commerce sales? Consider using preorders to grab attention and stir up excitement for your product — while bringing in some early cash flow. When it comes to preorder marketing, the right strategy is key to a successful product…
How the COVID-19 Pandemic Shocked Demand and Supply for Retailers
The COVID-19 virus has greatly changed the landscape of commerce today. The sudden changes in consumer spending, rise in unemployment and labor and material shortages created demand and supply shock that required retailers to rapidly adapt. In the current economic situation, it’s crucial to understand how the coronavirus impacts your business so you can respond…
Delivery and Shipping for Small Businesses After the COVID-19 Pandemic
As the risk of the coronavirus dramatically changes the landscape of retail and consumer shopping behaviors, small businesses are among those most affected. If your small business is struggling to navigate the changes the coronavirus has caused, the right strategy can help you adapt to serve your customers better. What Is Retail Delivery? For the past…
10 Reasons Why You Need Automated Inventory Management and Reporting
Inventory count accuracy was one of the top five priorities for distribution centers in 2019. To keep pace with the ever-tightening demand for accurate inventory counts, warehouses and retailers need automation. Automated inventory monitoring is more reliable than manual methods, and it frees up valuable time for small business owners and logistics managers. So, what is an automated inventory system?…
The Rising Issues in Inventory Management Today and 7 Tips to Stay Ahead of the Curve
As the world increasingly turns to online shopping and expects more from retailers, effective inventory management is crucial. The need to continuously improve operations is coming into sharper focus. Getting the right amount of merchandise to the right place at the right time requires a proactive approach. Inventory managers must develop best practices to avoid…
Medical Supplies and Inventory Management
Medical inventory has a lot of moving parts. Healthcare facilities must juggle budget restrictions and fluctuating drug demands while ensuring they comply with regulations. They don’t have time to be handling spreadsheets and managing inventory, especially when a faster option is available. Inventory management for healthcare environments allows doctors and nurses to spend more time…
5 Ways to Improve Warehouse Inefficiencies
Minimizing inefficiencies is a goal of warehouse management teams everywhere. Increasing warehouse productivity has benefits for the bottom line, customer satisfaction, accuracy and many other parts of your operations. Here are five factors to consider if you want to strengthen warehouse efficiency. 1. Automating Processes If you want to boost efficiency, automation is probably at…
A Guide to Superior Warehouse Customer Service
A warehouse is an integral part of customer service. It’s the last touchpoint for an order before it reaches the customer. Make any errors here, and your customer service representatives (CSRs) may hear about it in the future. Warehouse processes have a significant effect on the speed at which customers get their orders and the…
Going Green: Creating Eco-Friendly Warehouses
Warehouses have the potential to be eco-friendly environments. Environmentally friendly efforts in warehouses can help both your business goals and the plant. You can reduce your utility bills, minimize your carbon footprint and boost your reputation, all while helping the planet. How to Go Green in the Warehouse There are many ways to implement green…
Pipeline Inventory vs. Decoupling Inventory
If you work with inventory, you may have heard of terms like “pipeline stock” and “decoupling stock.” While they cover similar concepts, these two words have different meanings, and understanding them can help you manage your products effectively. What Is Pipeline Inventory? Pipeline inventory or stock refers to transit stock, or items that are in…
Leveraging Reorder Points
Leveraging Reorder Points to Maintain Stock Levels Without some statistical analysis, knowing when to reorder stock can feel like a guessing game. While you can’t predict the future, Finale Inventory is the next best thing. Our intuitive stock management software uses a sophisticated reorder point formula based on the inventory replenishment rules you set. Our…
Why You Should Be Using Automated Kitting
Automated kitting is an excellent way to improve your efficiency and speed up the fulfillment of certain types of orders. It maximizes the work of your skilled and highly paid workers by moving the more tedious tasks to automated storage and retrieval systems (AR/RS). Automated kitting can speed up processing common purchases or improve the…
What Is Gap Analysis? The Secret to Retail Business Growth
Gap analysis is an excellent way to ensure that your business is reaching its fullest potential. It allows you to identify areas where you could be improving by comparing current success with attainable goals. Let’s take a look at inventory gap analysis in strategic management and how it can work for your business. What Is…
How to Choose Your Point of Sale System: A Full Guide for Brands
According to recent reports, 41% of consumers expect in-store sales associates to know about their previous purchases. As a retailer, you may be wondering how you can collect that kind of data and use it to make your in-store experience that much better. The answer lies with a sophisticated point of sale system (POS). A POS system…
6 Reasons Why Excel Inventory Management Will Not Help You Grow
Many small businesses use Excel as their initial inventory management tool as it is easy to use and readily available on most computers. For a short while, using Excel for inventory management works just fine for many small companies. As their inventory management needs become more complex, business owners learn the hard way that Excel is…