Inventory

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 – Definitions, Benefits, Examples

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 (80/20 Rule) in Inventory Management

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.

What Is Inventory Control? Definitions and Tips for SMEs

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

Inventory Adjustments Within a Manufacturing ERP

By implementing common sense and best practices for inventory adjustments, a company can realize inventory accuracy that keeps processes on track.

Stock Keeping Unit (SKU) – Definition and Best Practices

Following stock keeping unit best practices is recommended when managing the SKUs in your inventory. Here is an overview of some of the best tips to follow.

Inventory Valuation Methods – Finding the Right Approach

For manufacturing companies, few things are as important in finance departments as inventory valuation. Here’s an overview of different valuation methods.

How Stocktake Helps Prevent and Detect Theft

High-quality stocktake (inventory checking) provides assurance to managers of all units of the company that the financial statements and software system information on inventory is accurate and fair. At the same time, occasional stocktake works quite well to prevent theft.

7 key benefits of manufacturing inventory management software

With manufacturing gearing up for Industry 4.0, the rapid development of automated equipment and processes mean the pace of manufacturing has outgrown traditional techniques and procedures.

8 Ways to Reduce Manufacturing Inventory

What is your attitude toward manufacturing inventory? Well, that could depend on your position within the organization. For instance, the production supervisor views inventory as a safeguard against everything that can go wrong during manufacturing, and your accountant looks at it as an asset that has value.

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