Inventory Management

Stock-keeping units, or SKUs, are crucial tools for inventory management. They provide identification for your products and help businesses keep track of available inventory. You can also use them to track sales trends, optimize future items and improve the customer experience at your stores. However, managing the number of SKUs in your inventory is important.…

Businesses use the supply chain to order and distribute goods to consumers. Supply chain layers work together to create and distribute products across the globe. However, disturbances in this chain can disrupt access to goods and other business functions. In the phenomenon known as the bullwhip effect, retailers make larger orders in response to sudden…

Retailers and manufacturers use a variety of identification methods during inventory management. These codes help you organize products and maintain inventory accuracy, which is crucial for business success. One example is a SKU. Inventory professionals use these frequently for various inventory operations. But what does SKU stand for, and how are they used in inventory…

Your inventory is the life of your business. Finding a way to ensure your items are safe and protected, whether they’re in your warehouse or another storage facility, will give you peace of mind and keep your business running smoothly. This guide will take you through factors you should consider to ensure your products’ safety,…

Perpetual inventory systems and physical inventory systems attempt to keep businesses organized and provide them with data that can help them make accurate decisions and know the correct amount of available inventory. However, these different types of inventory systems achieve these goals through different means. What Is Perpetual Inventory? Perpetual inventory systems are methods of inventory…

As the retail industry continues to grow, maintaining a good stock of your products is crucial for success. Having enough supplies on hand keeps both customers and employees happy. And the best way to keep track of your on-hand items is with thorough inventory counts. With the right inventory strategy, you avoid product shortages and ensure…

Order picking has a critical role to play in your warehouse operations. It impacts your efficiency, accuracy and customer satisfaction, and you can amplify your business by finding the right method.

Shipping labels might seem simple, but they have an integral role to play in warehouse shipping processes. Inventory management and shipping labels go hand in hand, with these labels providing valuable information about the package’s origin, destination, handling requirements and much more. They can direct the package through its journey, allowing employees to work more…

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…

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.…

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…

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…

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…

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…

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…

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…