Inventory Management

Cloud-Based Inventory Management – What is it and Top Solutions

For almost all businesses, inventory management could be considered the “meat and potatoes” of corporate life. It may not be as glamorous as PR or as well recognized as digital marketing, but it’s the process that keeps everything moving. Without a close eye on your stock, there’s no way to tell what you need, what you’re selling or how much money you stand to make.

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The 10 Most Important Inventory Management Metrics and KPIs

Visit any manufacturer and observe the Balanced Scorecards (BSC), dashboards, reports and performance measurements they use. You’ll be able to tell relatively quickly how they define themselves as a business, what matters most, the level of collaboration going on and, most importantly, how they prioritize their customers (or how they don’t). Analytics, metrics and Key Performance Indicators (KPIs) need to define the most effective behaviors for a supply chain operation, including Inventory Warehouse Management, to get to its goals.

Louis ColumbusThe 10 Most Important Inventory Management Metrics and KPIs
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What is Just in Time Inventory Management (and What Software Should You Use)?

Managing inventory and storage can be costly. Therefore, businesses are always looking for ways to reduce the need for warehouse space and lower expenses in the process.

One of the most innovative and effective approaches for doing so is by using Just in Time (JIT) inventory. It can not only help reduce the expenses associated with inventory management, but also greatly improve operational efficiency, which has benefits reaching far beyond just inventory.

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How the Internet of Things (IoT) is Revolutionizing Inventory Management

The greater the speed, scale and accuracy of data collaboratively shared across supply chains, the stronger supplier networks become. The world’s best-performing supply chains, as defined by Gartner earlier this year in their annual Supply Chain 25 List, are all using digital transformation technologies including the Internet of Things (IoT) and predictive analytics in full production environments. IoT is revolutionizing every aspect of these world-class supply chains.

Louis ColumbusHow the Internet of Things (IoT) is Revolutionizing Inventory Management
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Differences Between Inventory Systems in Retail, Manufacturing and Distribution

Today, almost all businesses make use of stock control and inventory systems. The movement and management of resources plays a big part in the smooth functioning of retail stores, warehouses, wholesalers, distribution companies and more. After all, if you don’t know how much you’ve got, you won’t know how much money it’ll make.

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Best Practices in Stock Control

Some people call it stock control. Others call it inventory control or management. Regardless of what you call it, whether you think of the materials used for business processes as stock or inventory, this type of operations management is important, and plays a critical role in a business that ships products to customers.

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Should I Use Vendor Managed Inventory Systems?

The traditional method of supplying a customer is, of course, to wait for an order or request. The customer places a purchase order for the goods or products they need, and the supplier responds. It’s their job to process the purchase order, take payment, and prepare it for delivery. While there are no major flaws in this system, there are times when it could be carried out much faster.

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The Ins and Outs of Inventory Management Systems

Inventory management systems are important to today’s businesses. Having a targeted and comprehensive inventory management system can save a lot of money, helping them pursue operations in a more successful way. If you haven’t heard much about these powerful business tools, read on; we’ll be covering practically everything you need to know about inventory management systems.

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Software for Inventory Audits

Managing inventories and orders is a critical component for any inventory-based business. The inability to track these items can lead to delayed orders, lost orders, and in a worst case scenario, a loss of customers. Carrying out inventory audits on a regular basis is essential to ensure that you avoid any operational headaches. That’s why businesses have turned to inventory audit software to save time, effort and money.

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5 Benefits of Inventory Tracking Software

Inventory tracking and inventory management tools are important for today’s companies. Having a targeted and comprehensive inventory tracking software can save businesses a lot of money, and help them pursue operations in a more successful way. Below are just a few of the major benefits that come with implementing these modern inventory tracking solutions.

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