Inventory Archives - Blog for Manufacturers and Distributors

Work in Process Inventory – What Is WIP and How To Calculate it?

We have all seen manufacturing depicted in cartoons. Basic resources are rolled into a factory, followed by loud noises and a smoking chimney. Then, shiny finished products emerge on the other side. In reality, manufacturing is a bit more complex. On their journey toward becoming final products, raw materials go through work in process inventory. […]

By Mattias Turovski 12 min read

InventoryManufacturing TipsSupply Chain

Material Planning – Definition, Tools, and Tips

Material planning is the process of figuring out what and how much is needed in order to produce goods within a specified timeframe, and ensuring the timely delivery of those materials. Accurate material planning can contribute significantly to the efficiency and profitability of a company.

By Madis Kuuse 13 min read

InventoryManufacturing TipsSupply Chain

What Is Economic Order Quantity (EOQ) and the EOQ Formula?

Economic order quantity is a supply chain management technique used to determine the optimal lot size per order. This is done in order to avoid stockouts and overstocking, thereby balancing inventory costs and opportunity costs.

By Madis Kuuse 9 min read

InventorySupply Chain

What is Consignment Inventory?

With eCommerce taking the world by storm and complex, continent-spanning supply chains the new normal in retail, selling goods on consignment is gaining popularity across diverse manufacturing sectors. In this post, we look at what is consignment inventory and weigh its pros and cons.

By Mattias Turovski 11 min read

InventoryManufacturing Tips

How to Use Inventory Tags and Labels to Organize Inventory?

Inventory tags and labels are an essential tool for organizing your inventory. From increasing efficiency in the stockroom to improving traceability in the supply chain, tagging and labeling your items and equipment can bring your company many benefits.

By Madis Kuuse 8 min read

InventoryManufacturing TipsSupply Chain

Inventory Planning – A Quick Guide

Inventory represents the very foundation of any manufacturing or distribution operation. Keeping the raw materials, WIP, and finished goods inventories at optimal levels is crucial for short- and long-term business success.

By Mattias Turovski 10 min read

InventoryManufacturing TipsSupply Chain

Purchase Order Management – Achieving Consistent Deliveries

For any manufacturing company that relies on components and raw materials from suppliers, purchase order management constitutes an important set of practices that can significantly simplify the procurement process. In this article, we look at how to achieve consistent success with your procurements using the best purchase order management practices and solutions.

By Mattias Turovski 9 min read

Case StudyImplementationInventoryManufacturing Tips

Managing Consignment Goods in MRPeasy

Consignment inventory is an inventory management and purchasing method wherein the goods procured from a vendor remain in the ownership of the supplier until they are sold or consumed. Here is how our US-authorized consultants Business Solution Providers, Inc. implemented consignment inventory for a client.

By Karl H Lauri 13 min read

InventoryProduction planning

Serial Number Tracking in Manufacturing

Knowing the location and details of materials, components, and products as they move through inventory and the shop floor is important for any manufacturing company. Serial number tracking is one of the essential tools for ensuring traceability in manufacturing.

By Mattias Turovski 7 min read