Inventory Management vs. Warehouse Management: Understanding Key Differences
When it comes to ensuring the seamless flow of goods, inventory-based businesses need to effectively manage resources, spaces, and logistics. In this field, two primary processes govern how goods flow from manufacturers to consumers: inventory management and warehouse management. And while these processes have similar names and they overlap in their goals, they have notable […]
6 Times StockIQ’s Inventory Management Software Saved the Day
For inventory-based businesses, effective inventory management is essential for organizational excellence. Organizations need to maintain the right balance of stock at all times, to properly meet customer demand while minimizing excessive inventory costs. In today’s highly competitive, fast-paced business ecosystem, companies need to have streamlined, efficient, and technologically advanced processes and systems in place, to […]
7 Inventory Problems StockIQ Solves
Managing inventory effectively is a crucial aspect of running any business that deals with stock, regardless of its size or industry. However, these organizations can often face challenges, which can lead to issues such as overstocking, understocking, and inaccurate forecasts, which subsequently impact operations and the customer experience. Instead of struggling to meet demand and […]
The Importance of Gauging the Security Protocols of Your Third-party Suppliers
Inventory-based businesses often rely on third-party suppliers for seamless and complete functionality of their organization. From raw materials to equipment, these third-party suppliers are often the critical backbone of an inventory-based business, facilitating the smooth flow of goods and supplies from production to distribution. And while the security of your own organization might be airtight, […]
How To Improve Your Sales Order Fulfillment Process
Your order fulfillment process is a critical part of keeping your business moving forward smoothly. You want to receive orders, pack them, and ship them out in as effective a manner as possible to help improve overall customer satisfaction. Are you working to improve your sales order fulfillment process? There are several key steps you […]
How Does an Inventory-Based Business Truly Measure Success?
For any business, there are several critical metrics to take into consideration. As an inventory-based business, you may assume that your bottom line is one of the most critical measures of success. While that is certainly a metric to consider, there are other measurements of success to focus on as you determine how your business […]
What is Multi-Site MRP Software?
Choosing the right system to help plan your purchasing is critical. MRP software is a key part of ensuring that you have the right materials coming into your business at the right time so that you can manufacture the goods you need, in the quantities needed. Having the right solution can make a huge difference […]
How Can Inventory-Based Businesses Combat Inflation?
Inflation has become a genuine problem for businesses in a variety of industries. Increases in household demand, supply chain shortages, and a strong labor market have all contributed to inflation in recent days. As an inventory-based business, it may not take long for you to start feeling the strain. Fortunately, there are some things you […]
Can You Shift Inventory Risk Onto the Manufacturer?
“Who should own inventory risk?” This key question has been asked by a number of businesses over the last few years. There are a lot of challenges that go into inventory management, made worse by supply chain shortages, delays, and other challenges to meet increased consumer demand in a variety of industries, many businesses have […]
Navigating Fluctuating Inventory Priorities
Many inventory-based businesses have seen their priorities change in recent years. Prior to the pandemic, keeping the “right” inventory on hand meant keeping overall inventory as low as possible while still meeting consumer demand. In most cases, business owners felt confident in the overall supply chain and its ability to deliver the inventory they needed, […]
