Articles
Inventory Management
Decoupling Inventory: Definition and How It Protects the Supply Chain
In today’s complex logistics and inventory management world, maintaining a resilient and efficient supply chain is more crucial than ever. One key strategy businesses employ to safeguard against disruptions is decoupling inventory. This approach helps prevent inventory shortages and ensures customer demand is consistently met. Decoupling inventory is essential for anyone involved in manufacturing processes, […]
Read More
MRO Inventory: Definition, Strategies, and Types
By comprehending the definition, types, and significance of MRO inventory, as well as implementing best practices in inventory management, businesses can optimize their supply chains and ensure smooth operations.
Read More
Distributed Inventory: Definition, Management Strategies, and Benefits
Distributed inventory is a strategy for storing goods across multiple locations rather than in a single central warehouse. This approach is important in commercial shipping and logistics because it helps companies align inventory with market demand and significantly cuts delivery times. By distributing inventory, businesses can achieve greater flexibility and responsiveness, enhancing overall supply chain […]
Read More
Finished Goods Inventory: What It Is, Formula, and Examples
Finished goods inventory is a critical part of managing any manufacturing business. It refers to the final products ready for sale after the manufacturing process is complete. Efficiently managing this inventory helps companies meet customer demand, optimize stock levels, and avoid lost sales opportunities. Businesses that actively manage their finished goods inventory can reduce excess […]
Read More
Inventory Management Techniques And Their Benefits
Each effective inventory management technique is crucial for helping a business maintain smooth operations and meet changing customer demands. By implementing inventory management strategies, companies can optimize their inventory management process, avoiding stockouts or overstocking.
Read More
New ERP Smooths the Way for Skin Care Company
After an exhaustive review of its enterprise resource planning (ERP) system, E.T. Browne Drug Company, the maker of Palmer’s Cocoa Butter, understood it needed to upgrade. By recommitting to SYSPRO, its long-time ERP provider, E.T. Browne was able to leverage a scalable solution that has enabled the venerable skin care company to reduce inventory and grow profits.
Read More
Pipeline Inventory: How To Manage It and Why It’s Important
Pipeline inventory plays a crucial role in the smooth operation of businesses across various industries. Simply put, it refers to the goods that are in transit between the manufacturer, distributor, or retailer and are not yet available for sale. Properly managing this type of inventory is essential for maintaining efficient supply chains, reducing costs, and […]
Read More
Vendor Managed Inventory: Definition, Benefits, and Challenges
Reflecting on the strategic benefits of VMI and staying informed about future trends can help companies achieve greater efficiency and success in their supply chain operations.
Read More
Inventory Cycle Counting: Definition, Benefits, and How-To
Cycle counting is a crucial method in inventory management that helps businesses maintain accurate records without halting their daily operations. Unlike traditional physical inventory counts, which can be disruptive and infrequent, cycle counting involves regularly auditing small portions of inventory. The main advantage of cycle counting over traditional physical counts is its ability to provide […]
Read More
10 Tips for Managing Inventory Effectively
Effective inventory management starts with a proactive philosophy. Here are 10 steps to take that can help you improve accuracy, increase efficiency, and control costs.
Read More
How Does Integrated Business Planning (IBP) Drive Supply Chain Efficiency?
6 ways that Integrated Business Planning (IBP) improves supply chain efficiency.
Read More
The Power of Regionalizing Inventory
Regionalizing inventory and spreading stock across multiple locations near consumers can help mitigate rising shipping costs, expedite delivery, and drive a better consumer experience.
Read More
Retail Inventory Management: Definition, Importance, and Key Components
Effective retail inventory management is crucial for the success of the retail and logistics sectors. By adopting automated inventory systems, demand forecasting, and supplier relationship management strategies, businesses can maintain optimal inventory levels and improve their inventory turnover ratio.
Read More
Inventory Turnover Ratio: What It Is, How to Calculate and Significance
Understanding the inventory turnover ratio provides invaluable insights into a company’s operational efficiency and financial health. It measures how often a business sells and replaces its stock within a given period, offering a clear snapshot of inventory management efficiency. An optimal inventory turnover ratio measures indicates a company sells goods quickly, suggesting strong customer demand […]
Read More
What is Inventory? Definition, Types, and Challenges
Effective inventory control and management ensure that companies can meet customer demand efficiently while maintaining optimal inventory levels.
Read More
A Supply Chain With Beauty and Brains
While selling beauty products may seem like a straightforward endeavor, “When you talk about cosmetics, it’s a world of complexity,” says Germán Ricardo Rodríguez Parra, operations strategic planning senior manager, supply chain, for Latin American direct-sales beauty firm Belcorp.
Read More
4 Types of Inventory
Understanding the various types of inventory is crucial for effective inventory management. The four basic types – raw materials, work in progress, finished goods, and MRO inventory – form the foundation of most inventory systems. Managing these efficiently ensures a smooth production process and reduces costs.
Read More
What is Flexible Warehousing? Definition, Benefits, and What to Look For
Flexible warehousing stands at the forefront of modern logistics, offering scalability, cost savings, and operational efficiency. It empowers businesses to swiftly adapt to changing market demands and seasonal fluctuations without the long-term commitments of traditional warehousing.
Read More
Channel Strategy: Definition, Types, and Tips
Businesses can significantly optimize the customer journey for better retention, meet business objectives, and ensure a successful marketing campaign—all by optimizing various marketing channels.
Read More
Warehouse vs. Inventory: Their Roles And Differences
Understanding the crucial differences between warehouses and inventory is essential for operational excellence in supply chain logistics. This article explores the roles and connections between warehouse capacities and inventory management in enhancing overall supply chain efficiency. The Role Of A Warehouse A warehouse is a storage facility that efficiently stores and protects goods until they […]
Read More