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, […]
Should We Use a Blanket PO?
Choosing the right ordering style for your business is a critical part of your ordering process. In many cases, businesses may use more than one style of order to get the job done. Regular purchase orders are put in when you need a specific product at a specific time. They will include specific quantities of […]
Inventory Based Businesses and Product Development Strategies
Any time you create a new product, you need a product development strategy that will help you bring your new product to your target market and ensure that you have the right inventory on hand to help you manage your product. With the right, most effective product development strategy, you can do a better job […]
How Do Businesses Use Inventory Forecasting Software To Prepare for Unexpected Downturns?
The last two years have seen unprecedented disruption across many businesses and industries. Businesses have found themselves struggling with inventory shortages and supply chain challenges. Not only that, many sources are warning of a potential economic downturn. Small business owners and large business owners alike are wondering how they can prepare for a potential downturn […]
7 Reasons to Move Away from Spreadsheets to Manage Inventory
It’s easy to get attached to your current inventory management systems. After all, chances are, they have worked for your business for several years. You may worry about the learning curve of moving away from spreadsheets as well as the potential expenses associated with moving to a comprehensive inventory management system. However, spreadsheets may not […]
How To Build the Right Inventory Management System
When you start looking into the best strategies for building an inventory management system for your business, you don’t just want a generic system that looks like anyone else’s. Instead, you want an inventory management system that takes the unique needs of your business and your supply chain into consideration. Look at the elements you […]
What is Inventory Control?
Your inventory control process is critical to making sure that your business can maintain the proper level of stock, keep up with the demands of your customers, and avoid potential delays. Do you have effective inventory control in place for your business, or are you struggling to maintain the stock you need to keep up […]
Guide To Understanding Safety Stock Patterns & Antipatterns
Building a comprehensive supply chain is incredibly important for ensuring the steady movement of stock through your business. Unfortunately, supply chains can collapse all too easily. Understanding supply chain patterns and how they have the potential to impact your business certainly means understanding how they work, but it’s just as important to understand when they […]
