What is Amazon FBA and How Does it Work?
Amazon FBA, or Fulfillment by Amazon, is a service offered by Amazon that allows you to sell your items through Amazon’s online platform and allows Amazon to manage much of the inventory associated with the process. By using Amazon FBA, many businesses have been able to grow their customer base and their sales, which can […]
Understanding and Combating Retail Shrinkage
Combating retail shrinkage is an ongoing challenge for many businesses. If you manage inventory, you know that shrinkage can occur for a variety of reasons–and that managing it is a critical part of protecting your profits. Fortunately, StockIQ can help combat many of the challenges associated with retail shrinkage and make it easier for you […]
The Overview: Infor ERP and Inventory-Based Enterprises
Recently, we’ve been covering some of the leading ERP solutions for inventory-based businesses. So far, we’ve looked at solutions like Dynamics 365, NetSuite, SAP, and Epicor, which are all industry-leading solutions with massive market share. Continuing this trend, we’re discussing a unique solution today: Infor. While Infor doesn’t necessarily have the same market share as […]
Epicor and Inventory-Based Enterprises, Part Two
This post is a continuation of Epicor and its relationship to inventory-based enterprises. Please see part one, which covers Epicor basics and demand planning. Epicor Inventory & Operational Analytics Inventory Optimization & Control This is the bulk of what most of you are here to read about. Retail businesses alone shed over $1 trillion in […]
The Overview: Epicor and Inventory-Based Enterprises
Inventory management — which involves end-to-end visibility across inventory, facilities, and transportation — is the single most critical component of the supply chain for inventory-based businesses. Yet, despite almost every supply chain manager practicing inventory management strategies, inventory-based businesses are still losing trillions of dollars due to stock-outs and overstock annually. Something isn’t working. Those […]
Inventory Forecasting Within Microsoft D365 and Business Central
Inventory control is the table stakes of supply chain management for 3PLs and distributors. At the end of the day, despite whatever pressures or short-term challenges are weighing on your supply chain, predicting inventory demand and managing inventory loss is your single most important responsibility. Here’s the problem: historical accuracy rates for inventory management stand […]
How to Best Understand Stock Planning
Stock planning is a concept that involves more than just maintaining adequate quantities of certain goods in the warehouse. It involves analyzing how your enterprise handles goods at every single stage of the supply chain. It’s an integral part of controlling costs and maintaining efficiency throughout an enterprise. Therefore, it’s critical for supply chain managers […]
The Best Inventory Planning for Your Needs
Inventory is a precarious aspect of every company. The need to assess demand and supply curves is critical in advising the need for inventory in manufacturing and warehousing, hence the need for inventory planning to address these and other top inventory concerns. Types of Inventory An appropriate and effective inventory plan starts by factoring in […]
Why You Need an Accurate Inventory Forecasting Approach
The greatest challenge faced by startups and established businesses with physical goods on hand, is stock and inventory management. While entities may tie up staggering amounts of capital in inventory, most still fail to track their merchandise or still leverage conventional manual approaches. This could lead to many setbacks that may increase wastage and lower […]
Inventory Classification 201
While one of the basic processes in successful inventory management is inventory classification, as we discussed in our Inventory Classification 101 article, there are some additional considerations for practitioners of best-in-class inventory management that can help make sure optimizing your inventory investment. Inventory Classification Fundamentals The fundamentals of inventory classification are always helpful, whether or […]