Inventory

How to Achieve Traceability in Manufacturing?

Traceability essentially means having insight into the chain of events that is your business. But how to achieve it and what are the mechanisms that support it?

Shopify Inventory Management Basics for Manufacturers and Resellers

Setting up a business in Shopify is an easy thing to do. Properly managing that business, however, takes work. Here are some techniques and apps for effective Shopify inventory management.

How to Calculate the Cost of Goods Manufactured (COGM)?

Calculating the Cost of Goods Manufactured is a good way to get an overview of production costs and how they relate to the bottom line of your business. It allows management to identify cash drains, to adjust prices, and to track the development of the business.

Inventory Turnover Ratio – Formula and Tips for Improvement

The inventory turnover ratio is a good indicator of the performance of your company. Find a balance between sales and stock by using these formulas and tips.

Materials Management – Best Practices for Small Manufacturers

Implementing proper materials management methods allows businesses to make sure raw materials reach the shop floor at the right time, in the right quantity and quality. Follow these best practices to get more control over this essential supply chain function.

Kitting – a Comprehensive Guide for Manufacturers and Distributors

Kitting could be a valuable addition to the managing practices of both your raw material and finished goods inventory. There are two types of kitting and numerous instances when either of them could prove useful.

What Is Demand Forecasting and What Can MRP Software Do With It?

Demand forecasting could be the key to a business’s future. But how does it work and how could it be leveraged in a way that would be most beneficial?

Periodic vs. Perpetual Inventory System in Modern Manufacturing

Although a periodic inventory system might seem clear-cut and foolproof at first glance, its disadvantages may outweigh the benefits. Perpetual inventory systems, however, are already becoming mainstream.

ABC Analysis in Inventory Management – A Quick Guide

ABC analysis helps manufacturers get insight into their supply chain, reduce inventory, and improve inventory management. And it does not require a data analyst nor a substantial amount of resources to do it right.

What Is Safety Stock and How to Calculate It?

Safety stock is the buffer that helps manufacturers keep serving their customers when disruptions occur.

What is a Warehouse Management System?

As warehousing becomes more complex, there is a need to automate all processes to align them with automation already taking place in supply chain management (SCM). Modern Warehouse Management System can help.

Inventory Control – What is it and Why it is Important

Inventory control allows companies to maintain the proper balance of stock in their warehouses and help with providing superior customer service.

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