What is just-in-time inventory? Is it the right inventory management method...
Storage facilities and large stocks of inventory can be a huge drain on a business. The physical area has to be taken care of, rent has to be paid, and personnel have to spend time overseeing and...
View ArticleHow to identify bottlenecks in the supply chain, and ways to prevent them...
Any company aims to have their operation run so smoothly and efficiently that they’ll have minimal outlay and make maximum profit. Sadly, many fall short of that goal because of holdups along their...
View Article8 ways to get the best out of warehouse inventory management
A manufacturer’s inventory is its lifeblood, the basic ingredients for whatever is being made. When it comes to storing materials in the warehouse, there has to be enough materials on hand at all...
View ArticleSupply chain as a service (SCaaS) – the ultimate guide
To quote writer and editor Stewart Brand: “Once a new technology rolls over you, if you’re not part of the steamroller, you’re part of the road.” Wise words in this day and age when more and more...
View Article5 trends in 3PL to watch out for in 2023
Third-party logistics is a growing area, and expectations are that this upward trajectory will continue into 2023 and beyond. In fact, ReportLinker’s Third-Party Logistics (3PL) Global Market Report...
View ArticleWhat is demand planning, and why is it crucial for supply chain management?
Guesswork plays no part in today’s business world. Every decision that’s made, every action that’s put into place is based on verifiable needs, and this verification comes from precise data. When...
View ArticleHow to avoid being stuck with obsolete inventory
A retailer’s mark of expertise is shown when they stock items people want to buy and have them in the right quantities to meet demand. But this skill is not an exact science. Even with the tracking and...
View ArticleOrder tracking in ecommerce: It’s importance and good ways to implement it
Any customer buying online is taking a leap of faith. They’re trusting that the item they’re buying is everything they think it is, and they’re trusting that the website they’re buying from is honest....
View ArticleHow Cin7 Omni’s order management system can be a game changer for wholesalers
Wholesalers stand between manufacturers and retailers, buying in great bulk from the first and selling in small quantities to the second. What these two sales entities have in common is inventory and...
View ArticleThe future of retail is here: How BOPIS is changing the game
In today’s fast-paced world, convenience is everything. Consumers want to shop when and where it’s best for them, and retailers are looking for ways to meet those demands. One method retailers use to...
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What is the B2B2C model? What should you consider in setting up a B2B2C model...
The U.S. Census Bureau News reported that the retail ecommerce sales for the first quarter of 2022 crossed $250 billion, an increase of 2.4% from the fourth quarter of 2021. It represented 14.3% of the...
View Article4 ways order management can improve your customer experience in 2023
What goes on behind the scenes to get goods to a customer after clicking the “buy” button is a lot more complicated than most realize. While the process for getting an online order to a shopper breaks...
View ArticleHow lean warehousing cuts waste and costs
The global supply chain is growing at a tremendous rate, putting pressure on wholesalers and retailers to get more mileage out of their warehouses. These giant storerooms must hold more inventory, and...
View ArticleHow to make improvements to inventory control in 2023
Inventory is the backbone of retail and manufacturing companies, and managing it as it moves through the supply chain is a crucial task for businesses. From ordering to storing to using inventory in...
View ArticleReasons automated order management systems are better than manual order...
Reasons automated order management systems are better than manual order managementOrder management is the process that takes place in a company to get purchases to the customers who have bought them....
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The future is intelligent commerce
The last few years have been a rollercoaster for businesses, from the sudden and dramatic shift to online selling through the global pandemic, to the recently reported slowdown in online sales. Based...
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4 Ways Businesses can Future-Proof their Inventory and Accounting Systems
The COVID-19 pandemic presented challenges to most businesses, especially small businesses. It was tough to manage inventory distributions in brick-and-mortar locations amid lockdowns and increased...
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Stop the stress: The future of budgeting and forecasting
A lot of hype happens when ‘budget season’ comes around for a business, with images of late nights and spreadsheets and stress levels boiling over. For accountants, it’s just another normal financial...
View ArticleEight Signs It’s Time to Implement an Inventory Management System
Let’s face it, inventory management is complex. Tracking all costs from procurement to distribution is not a small task. It’s okay to start small with an Excel spreadsheet to track inventory, but as...
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What is a Good Inventory Turnover Ratio? [Formula]
Quick Answer: A good inventory turnover ratio is typically between 4 and 8 for most industries. While the optimal ratio may vary depending on your industry, this range generally indicates a good...
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