Insights and Updates: Explore the Latest Trends, Tips.

Simply put, delivery performance is nothing other than a measure of how well an organization is able to deliver products and services compared to customer expectancy. It is an important element in supply chain management as it displays the capability of the organization to meet customer demands. Delivery performance measures how well a business can […]

Inventory is the most important and valuable asset. Any business (apart from a service company) needs to purchase, store, consume in production, and sell inventory; this includes managing raw materials, accessories, parts, and finished goods. They also have to process and store inventory. It is the single most important business function for an organization. Managing […]

Businesses today have to be flexible and agile so that they can respond to fluctuating customer demands quickly and with less inventory. Stockpiling inventory is not the smart way to do business, as it ties up too much money, increased lead times, and leads to opportunity costs. Money invested too heavily in inventory means less […]

How much product to stock? This question can give businesses (whether street sellers or multinational corporations) a huge headache. Stock too less, and you have disappointed customers going away; stock too much, and you have rotting produce or out-of-fashion clothes. Poor inventory management can cost businesses tens of thousands of dollars annually. This problem has […]

Knowing when to order products and how much to order, to replenish your stock, is a critical element of inventory management. Unfortunately, many businesses do this without much forethought, and in a haphazard manner. They place orders on guesswork rather than use a scientific approach. This may not always be effective, as several external and […]

Managing every aspect of a company’s inventory – from purchasing and receiving to storage and turnover, and even reorder – in a system, together makes up an inventory control system. Of course, the various inventory activities may differ from company to company and may be included in different categories. However, they need to be executed […]

Any business that has to handle product inventory, like consumer goods, E-commerce, food, etc. is faced with the constant challenge of maintaining the right stock levels – neither too less nor in excess. If a high-selling item gets stocked out frequently, consumers will get annoyed and take their business elsewhere. Managers are aware that carrying […]

Most businesses have hundreds of inventory items that have been purchased from a few dozen vendors at least; these are shipped or sold to thousands of customers. The larger the business, the more complex this equation. Managing inventory of this complexity in an efficient way necessitates the use of smart strategies which help assign priorities. […]

Inventory is one of the most important assets for any business; after all, it is when a business sells goods that it earns revenue. There are dozens of aspects involved in inventory management; to ensure efficiency, the relevant persons in charge need to be diligent and ensure that, stock can be easily identified, there is […]

As a manufacturer, some of the questions constantly going through your head are most probably about when you should order your raw materials next, and how much to order. As important as they are, these questions are also difficult to answer. They are also extremely important for efficient inventory management. What is Reorder Point? Reorder […]