Category Archives: Inventory Management

If you're a business owner, then you know that time is money. The faster you can get orders through your system and delivered to your customers, the more money you'll make. That's why improving order cycle time is so important. In this blog post, we will discuss the benefits associated with improving order cycle time and how you can go about doing so. What Is Order Cycle Time? Order cycle time (OCT) is the total time from when an order is placed to when it is received. In other words, it is the time it takes to manufacture a product...

Businesses have a lot to worry about—from inventory management and sales goals to meeting customer demands. But one of the biggest concerns for business owners is inventory risk. Inventory risks refer to various circumstances that might make a company unable to sell their products due to unexpected changes in demand or a loss in product value. This can lead to lost sales and a decline in customer satisfaction. In this blog post, we will discuss some common inventory risks and how to avoid them. We will also talk about how a 3PL provider can help you resolve any inventory risks...

A dreaded term in the fulfillment industry is inventory write-off. It is the formal recognition that some of a company’s inventory no longer has value and cannot be sold. Sometimes inventory write-offs are necessary; sometimes items go out of style and need to be reworked or recycled for another purpose. Other times, a product gets damaged in the warehouse, either during storage or transportation, and has to be written-off. If write-offs happen here or there, it won't cause a huge loss to your organization; however, if they are happening frequently, it indicates that your company has poor inventory management. Here...

[caption id="attachment_6004" align="alignleft" width="300"] iStock.com/SeventyFour[/caption] Any organization that stores items in its warehouse needs some sort of inventory management. Without a proper strategy in place, your organization will face multiple challenges that could cost you money, waste time, and lead to poor customer service. Since the marketplace is constantly changing, you need to be able to adjust your processes to adapt to unexpected shifts. If you work within the e-commerce realm, you already know how important inventory efficiency is to draw in more customers and meet their demands. If you want to have a positive brand reputation, you will need...

[caption id="attachment_5995" align="alignleft" width="481"] iStock.com/gorodenkoff[/caption] 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...

[caption id="attachment_5985" align="alignleft" width="507"] iStock.com/gorodenkoff[/caption] 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. (more…)

[caption id="attachment_5967" align="alignleft" width="405"] iStock.com/Zephyr18[/caption] 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. (more…)

[caption id="attachment_5913" align="alignleft" width="498"] iStock.com/SeventyFour[/caption] 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...

[caption id="attachment_5887" align="alignleft" width="329"] iStock.com/SeventyFour[/caption] 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. (more…)

[caption id="attachment_5876" align="alignleft" width="311"] iStock.com/Zephyr18[/caption] 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....