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Category Archives: Inventory Management

Why Your Business Needs Real-Time Inventory Management

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What is real-time inventory management and why does it matter? Real-time inventory management is the process of keeping track of inventory sales and purchases as soon as they occur by using software that gives the entire company a picture of what’s happening. It allows your organization to have the information it needs to react faster to specific needs in the supply chain. Real-time systems record every transaction immediately, to allow for greater accuracy than periodically updating the inventory at certain intervals. Here are the benefits of real-time inventory management and why you should implement it in your supply chain.

Better Customer Experience

One of the primary benefits of real-time inventory management is the enhancement it brings to your customer experience. Without it, you can find yourself in this unfortunate scenario: you have a customer who is ready and able to make a purchase from your store, but you lose them because you don’t have enough stock for them to buy the product. This issue may not be a big deal if it happens the odd time, but if, due to your poor inventory management, this occurs multiple times, it will impact your immediate sales potential with your customers and your long-term brand reputation.

Organized Warehouse

Real-time inventory management helps you maintain an organized warehouse. This type of inventory management will help you keep track of where your products are moving, whether in or out of your warehouse, for a comprehensive warehouse management solution.

Enhanced Visibility

Another huge advantage of embracing real-time inventory management is gaining better visibility of what’s happening to your organization’s inventory. This is extremely important during critical periods such as peaks, like the busy holiday season when you need an optimal level of inventory on-hand.

Better Order Accuracy

Real-time inventory management provides you with a better idea of the inventory you have in stock, so you can prepare your customer orders quickly with less risk of errors. With a better understanding of your on-hand inventory, you can provide better information to your customers when they shop online or in-store and manage their expectations. You will also be able to reduce the chances of backorders or mistaken shipments.

Detailed Reports Helps Businesses

The detailed reports provided through real-time inventory management are useful for quick management meetings and presentations. These systems can produce reports at any time, so your management team has the data to respond to sudden changes in supply or demand.

Automation

Real-time inventory updates ensure you always have current information to work with. You can set up automatic reorder points on your products to notify you when they are running low. When an item is sent out for sale, the inventory count updates, so you can be aware of what you still have. The bottom line is that automatic updates help you do your job more efficiently.

Scalability

Your supply chain needs to grow as your business grows. Scalability is important, and many organizations state that once they adopted a model with real-time inventory management, they experienced scalability as one of the benefits.

Saves Time and Money

Real-time inventory management also brings monetary benefits. It helps organizations keep track of the products they have on hand and which products are set to arrive. It keeps your inventory counts accurate, so you don’t need to do frequent recounts and waste valuable time. Your records will be accurate, thanks to the real-time inventory management software’s reports, so you can save money and make the right decisions.

Increases Efficiency and Productivity

Real-time inventory systems come with a variety of devices that work together to increase efficiency and productivity. Some of these devices include barcode scanners and software. They eliminate manual processes and the errors and mistakes that come along with them. They also allow your employees to focus on other important areas of the business.

Reduces Overall Stocking Levels

When you know exactly how often your customers buy each of your products, you can make accurate predictions about how often to restock certain items. This helps you make better use of your warehouse space, as you won’t have to stock up on products as often or in such a high quantity. You can set up just-in-time ordering to order items that are beginning to run low, so customer requests are met every time.

Contact APS Fulfillment, Inc. for Your Real-time Inventory Requirements

Real-time inventory management can help you keep better track of your orders, sales, and the locations of your products. The advantages mentioned above are just a few of the many you will experience. You can have immediate inventory updates, automation, increased information accuracy, and much more. If you want to implement a robust inventory management software, our third-party logistics company can help you.

APS Fulfillment, Inc. cares about our clients’ success. Our professionals provide our clients solutions to meet their warehouse organization needs. We provide services such as real-time inventory management, e-commerce fulfillment, fulfillment solutions, and fulfillment markets. There are endless benefits to working with a third-party logistics company that uses the best-quality software systems to manage your warehouse, so if you’re looking for the right company, look no further than APS Fulfillment, Inc. You can contact us by e-mail at [email protected] or by phone at (954) 582-7450.

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How to Improve Stock Control

How to Improve Stock Control

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Inventory management is one of the most important aspects of a successful business. Understanding the need for effective stock control is only part of the solution. You should also know how to implement it and make the most of it. There are various reliable strategies for improving inventory control, such as characterization, integrated mobile technology, warehouse management systems, and supplier relationship management. These strategies and more provide a foundation to improve your inventory management. If you’re wondering how to improve stock control, here are some tips to consider.

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How to Identify Slow Moving Inventory

Slow Moving Inventory

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Slow-moving inventory is defined as stock that has had little customer demand over a certain period of time. But how do you identify slow-moving inventory? What qualifies as little customer demand? All of these questions are important to ask yourself when reviewing your inventory strategy. If your focus is on growing your business and staying ahead of your competitors, it’s important to dedicate time to improving your fast-moving inventory and managing the slow movers. Here’s why slow movers are a problem and how you can identify them to establish a strong growth strategy.

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Common Inventory Mistakes e-Commerce Startups Make

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If you’re new to the e-commerce industry, you may have some concerns regarding setting up an effective web site, finding your target customers, meeting your customers’ needs with your products or services, and providing quality customer service. Among these concerns, the most important aspect is solving inventory management challenges. Inventory management is so important because it affects every other area of your business. Managing inventory can be challenging for well-established businesses, so ensuring your startup is prepared to avoid inventory management mistakes is key to your success. Here are the most common inventory management mistakes by e-commerce startups and how you can get help to prevent these mistakes.

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Inventory Management Techniques to Save Money

Inventory management save money

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When most people think about inventory management, they instantly get a headache from thinking of the overwhelming number of items to count and organize. However, developments in technology have allowed many businesses to access inventory management software that makes this process tremendously simpler. Instead of manually tracking everything, the software records the information and provides statistics and measurable data for you, and anyone in your network that you allow. Are you ready to save money with inventory management techniques? Here are some tips to follow.

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Debunking Top Myths about Inventory Management

Inventory management myths debunked

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Inventory management is not a simple task for many e-commerce businesses. You may either have too much or too little in stock or may have difficulties monitoring the movements of your products in and out of your warehouse. Inventory management software can help you prevent problems like these, by automating the process as much as possible. However, there are many misconceptions about inventory management that have led businesses to hold off on including it in their operations. Here are the most common inventory management myths and why this software is so important to your success.

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10 Key Inventory Metrics for Small Businesses

inventory managementProducts come in and out, but you should be in control of that cycle at all times. And if you run a small business or fulfillment company, you have to; your success depends on it.

If you’ve never given much thought to inventory metrics, here are 10 factors to take note of:

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An Overview of Just-In-Time Inventory Management

Just-In-Time Inventory ManagementA vital part of maintaining the efficiency of any business or warehouse is in coordinating the supply-and-demand of your inventory. To avoid overstocking items that surpass the customer demand, it is important for companies to implement a leaner practice that manages production on an as-need basis. That’s where the just-in-time inventory system comes into play.

What Is the Just-In-Time (JIT) Inventory System?

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Maximizing Inventory Management

APSFulfillment_image_100615Inventory management is the system you use to oversee the movement of products in and out of your business. For an e-commerce company, this mostly relates to the flow of products through your warehouse rather than a physical store, but the same principles apply. Numerous inventory management strategies exist that serve to track stock, manage invoices and orders, govern inventory-related accounting, and other elements. Here are some tips for maximizing the capabilities of your inventory management system.

Approach From a Supply Standpoint

Business owners can usually identify roughly how much inventory they have available. Not all can say how many weeks of supply their stock makes up. By keeping in mind how many sales your current inventory can support before being restocked, you can link inventory levels to sales projections. Generally speaking, the ideal inventory level is just enough to match predicted sales until restock arrives along with a buffer in case of sales spikes, late stock delivery, or other complications.

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How to Deal With Slow Moving Inventory

How to Deal With Slow Moving InventorySlow moving inventory is a situation which almost every retailer has to deal with at some point. The good news is that you can prepare for slow moving inventory if you focus on proper inventory management practices. Managing these circumstances carefully saves capital and keeps your profit margins stable.

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