Inventory Inventory Shrinkage – Causes, Consequences, and Tips Inventory shrinkage is a common issue in most businesses that deal with physical inventory. The consequences of shrinkage may include financial losses, operational disruptions, and loss of competitiveness. But how does it happen and how to prevent it? By Madis Kuuse 11 min read
Choosing a SoftwareInventory The Best Inventory Management Software Systems in 2024 Choosing the right inventory management system is vital for the success of any business that deals with physical merchandise. Here are the top systems for industries like manufacturing, distribution, retail and e-commerce, and hospitality. By Madis Kuuse 14 min read
InventorySales Inventory Turnover Ratio – Formula, Examples, and Tips The inventory turnover ratio is a good indicator of your sales and inventory management performance. Find a balance between sales and stock by using these formulas and tips. By Madis Kuuse 11 min read
InventoryManufacturing Tips Kitting – Benefits, Examples, and Best Practices Kitting is a valuable method to help manage raw material and finished goods inventories and optimize the manufacturing process. There are two main types of kitting and numerous instances in which either of them can prove useful. By Madis Kuuse 15 min read
Inventory The Emerging Role of AI in Inventory Management (with Examples) From demand forecasting and warehouse optimization to image recognition and predictive maintenance, various AI applications are set to significantly impact inventory management practices in the near future. By Madis Kuuse 9 min read
Inventory Automated Inventory Management – A Quick Guide An automated inventory management system is a software-based solution that is designed to automate processes in the warehouse, thereby streamlining workflows, optimizing stock levels, and reducing inventory-related costs. By Madis Kuuse 9 min read
Inventory Raw Material Inventory Management Guide for SMEs (2023) Raw materials are the substances or components used in the production of goods. Properly managing their raw material inventory allows manufacturers to ensure a smooth production flow, control costs, and respond promptly to customer demand. By Madis Kuuse 14 min read
Inventory ERP Inventory Management – Benefits, Types, and Top Solutions Managing inventory is a difficult task made much easier with ERP inventory management systems. Here are their benefits, implementation tips, and the top solutions for each industry. By Madis Kuuse 15 min read
InventorySupply Chain What Are Lot Numbers and How to Use Them? Lot numbers are unique identifiers assigned to specific batches of products, allowing for traceability and quality control throughout the supply chain. Understanding lot numbers is essential for businesses to ensure product safety, regulatory compliance, efficient inventory management, and effective recall processes. By Madis Kuuse 9 min read