Benefits of Effective Supply Chain Management
[caption id="attachment_6039" align="alignleft" width="353"] iStock.com/Chaay_Tee[/caption] Effective supply chain management is vital for many businesses. It provides a competitive advantage and allows companies to lower their risk of errors when buying raw materials and selling products. Here’s what you need to know about the importance of supply chain management and the benefits it can bring your company. (more…)
How to Optimize Your Warehouse Replenishment
[caption id="attachment_6015" align="alignleft" width="300"] iStock.com/Wavebreakmedia[/caption] With the increasing pressure to deliver faster order fulfillment, it’s more important than ever for companies to streamline, improve, and reassess their existing warehouse operations and practices. Thanks to recent advancements in picking technology, companies are beginning to see improvements in their warehouses; however, one area that continues to be overlooked is replenishment. Here’s what you need to know about the importance of stock replenishment, plus we provide some helpful warehouse replenishment best practices to help you streamline your inventory management in your warehouse. (more…)
How to Manage Inventory when You Have Multiple Warehouses
[caption id="attachment_6009" align="alignleft" width="300"] iStock.com/Drazen Zigic[/caption] The warehouse is the core of inventory management where all goods are received, sent to production, and shipped out and delivered to customers. All these aspects must be streamlined and in perfect synchronization to ensure that your customers get their orders on time. As straight forward as it may seem, inventory management is not an easy task, especially when it comes to inventory management for multiple warehouse. The key to successfully managing multiple warehouses is to get a good understanding of the challenges they present and develop strategies for how to overcome them. Here...
9 Steps to Solve Common Inventory Problems
[caption id="attachment_6004" align="alignleft" width="300"] iStock.com/SeventyFour[/caption] Any organization that stores items in its warehouse needs some sort of inventory management. Without a proper strategy in place, your organization will face multiple challenges that could cost you money, waste time, and lead to poor customer service. Since the marketplace is constantly changing, you need to be able to adjust your processes to adapt to unexpected shifts. If you work within the e-commerce realm, you already know how important inventory efficiency is to draw in more customers and meet their demands. If you want to have a positive brand reputation, you will need...
Why Your Business Needs Real-Time Inventory Management
[caption id="attachment_5995" align="alignleft" width="481"] iStock.com/gorodenkoff[/caption] What is real-time inventory management and why does it matter? Real-time inventory management is the process of keeping track of inventory sales and purchases as soon as they occur by using software that gives the entire company a picture of what's happening. It allows your organization to have the information it needs to react faster to specific needs in the supply chain. Real-time systems record every transaction immediately, to allow for greater accuracy than periodically updating the inventory at certain intervals. Here are the benefits of real-time inventory management and why you should implement it...
Hidden Costs of In-House Warehousing
[caption id="attachment_5990" align="alignleft" width="481"] iStock.com/Smederevac[/caption] There are many reasons why growing companies switch from managing their warehousing in-house to hiring a third-party fulfillment company. There are many hidden costs and challenges when you manage your fulfillment and warehousing in-house, especially if you are a startup company. Although using a fulfillment partner may seem more expensive up front, you will ultimately save more money in the long run as your business grows. Here are some of the hidden costs of in-house warehousing, so that you can weigh your options and save on costs with a fulfillment partner. (more…)
How to Improve Stock Control: Tips and Techniques
[caption id="attachment_5985" align="alignleft" width="507"] iStock.com/gorodenkoff[/caption] Inventory management is one of the most important aspects of a successful business. Understanding the need for effective stock control is only part of the solution. You should also know how to implement it and make the most of it. There are various reliable strategies for improving inventory control, such as characterization, integrated mobile technology, warehouse management systems, and supplier relationship management. These strategies and more provide a foundation to improve your inventory management. If you're wondering how to improve stock control, here are some tips to consider. (more…)
How to Overcome These Common Challenges of Having Multiple Warehouses
[caption id="attachment_5975" align="alignleft" width="426"] iStock.com/petinovs[/caption] Adding extra warehouses to your business provides many benefits such as reducing shipping costs, increasing storage capacity, and having warehouses for specific purposes to simplify warehouse management. However, the more warehouses you have, the more challenges you may have to deal with. Here are some of the most common challenges with managing multiple warehouses and how you can manage multiple warehouses effectively to overcome these challenges. (more…)
How to Identify Slow Moving Inventory
[caption id="attachment_5967" align="alignleft" width="405"] iStock.com/Zephyr18[/caption] Slow-moving inventory is defined as stock that has had little customer demand over a certain period of time. But how do you identify slow-moving inventory? What qualifies as little customer demand? All of these questions are important to ask yourself when reviewing your inventory strategy. If your focus is on growing your business and staying ahead of your competitors, it’s important to dedicate time to improving your fast-moving inventory and managing the slow movers. Here’s why slow movers are a problem and how you can identify them to establish a strong growth strategy. (more…)
Tips on How to Plan Your Warehouse
[caption id="attachment_5951" align="alignleft" width="398"] iStock.com/dusanpetkovic[/caption] Today's business climate is competitive, which is why it is so important for business owners to make their warehouse planning and implementation as efficient as possible to drive growth and profits. This goes beyond research and development to include manufacturing, marketing, distribution, accounting, human resources, and warehouse or distribution management. The following warehouse planning tips can help you become more efficient, so that you can increase your success as your business grows. (more…)
