Inventory Classification 101
Why Classify Inventory? Classifying inventory is one of the most basic, yet essential and strategic parts of inventory management. Classifying inventory allows business owners to focus on items that make the most impact on their business goals while identifying (and potentially removing) items that aren’t contributing to the bottom line, selling or are obsolete. Beyond […]
Excess Stock: When Less is More
Excess stock is part of running pretty much any business that carries inventory. Demands can change quickly, bulk pricing is tempting, supplier minimums can be tricky and there’s more than enough room for human error when forecasting stock manually. In some cases, identifying excess stock is easy (remember those dusty boxes in your warehouse?) but […]
A Proactive Approach to Stockouts
The Threat of Stockouts Stock-outs are one of the biggest threats to businesses that rely on inventory on the shelves to meet their customers service expectations. In fact, 42% of small to medium businesses report stock-outs as being their top inventory management concern. While one or two lost sales due to stock-outs may not be […]
Top Inventory Concerns
Spend too much time reording, are repeatedly battling stockouts or have too much capital tied up in invertory? Don’t fret, you are not alone. StockIQ has the people, process and tools to help!
The Partner Channel Interview with StockIQ Technologies
In 2015, Jeffrey teamed up with two of his previous colleagues from RockySoft who had formed their own company and had devoted a year to developing a new inventory planning solution for the Microsoft Dynamics market: StockIQ. Jeffrey explains, “We began with a wonderful opportunity to focus 100 percent on development of an application from […]
People, Process or Tools?
Is it the processes that I put in place? Is it the software I implement? Sure, the processes in place define the parameters for your management to work within. And the software you choose is imperative to how your inventory data is analyzed, aligned to goals and presented for action. When done correctly, both can […]
