Are Ghost Assets Haunting Your Inventory Control?

Supply Chain Game Changer

Do You Want Inventory Turnover Breakthrough? It’s still being recorded in inventory and accounting systems. After an asset has broken, been sold, been misplaced or otherwise become unusable, it sometimes doesn’t get properly accounted for in inventory and record-keeping.

The Future of Inventory Management

Kinaxis

by Andrew Dunbar This post concludes my inventory management blog series. Inventory management is not a stand-alone business process that occurs after other processes are complete. How does your inventory manager’s role compare to the one I’ve described here?

This is Not Your Father’s Inventory Optimization

Logility

The first commercially available single-echelon inventory optimization solution was introduced in the 90s and the first commercially available multi-echelon inventory optimization solution was introduced in the early 2000s. Inventory Optimization

The Many Types of Inventory Management Technology

Cerasis

There are diverse types of inventory management technology and systems, designed to properly sort, control and act upon information with a company’s inventory. As explained by Kenneth Hamlett of the Houston Chronicle , the two dominant types of inventory management technologies include manual and automated systems. But, there are additional levels of inventory management in between. The basic and most limited type of inventory management system is a manual system.

Physician Preference Cards: The Key to Hospital Low Inventory Utilization and Waste

NC State SCRC

Almost every hospital or IDN faces significant challenges in managing their operating room inventory, which can be traced to a simple concept: utilization. People working in the stock room are often short-staffed, and don’t have time to re-stock a ton of inventory from each day’s surgery.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions. The distributor maintains the inventory plan.

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

What is vendor-managed inventory? VMI is the process whereby a supplier or vendor manages and replenishes inventory at a customer’s location at the levels required by the customer. The benefits of the vendor-managed inventory process include: Enhanced visibility for vendor.

Optimising Inventory Management for Multichannel Businesses

Unleashed

Managing multichannel inventory requires clear and concise inventory strategies to combat the challenges associated with multi-platform sales. By increasing visibility, working with supply chains, reconciling inventory, connecting systems, and managing safety stock levels, you can improve multichannel inventory management. Reconciling inventory. Regular inventory management can also be problematic when numbers don’t line up.

Retail Inventory Shrinkage Remains a Problem

Enterra Insights

For the last few years, inventory shrinkage has annually cost U.S. ” Regardless of how inventory is lost, shrinkage costs retailers a lot of money. To reduce shrinkage, retailers need to have a strategy to address each of the ways inventory can be lost. Inventory shrinkage strategies. Addressing inventory shrinkage begins with inventory management. Trujillo explains, “Take the plunge and invest in an inventory management system.

EDI 846 Inventory Inquiry – Explaining EDI

SupplyPike

You would send an EDI 846 (Inventory Inquiry/Advice) to your buyers/trading partners to notify them of your on-hand inventory. EDI 846 documents are also commonly used for e-commerce vendors that utilize a drop ship management model. The Inventory Inquiry/Advice is an incredibly effective document for use between trading partners to properly regulate their respective stock of a product. EDI + Data Exchange edi EDI 846 Inventory inquiryWhat is an EDI 846?

EDI 846 Inventory Inquiry – Explaining EDI

SupplyPike

You would send an EDI 846 (Inventory Inquiry/Advice) to your buyers/trading partners to notify them of your on-hand inventory. EDI 846 documents are also commonly used for e-commerce vendors that utilize a drop ship management model. The Inventory Inquiry/Advice is an incredibly effective document for use between trading partners to properly regulate their respective stock of a product. EDI + Data Exchange edi EDI 846 Inventory inquiryWhat is an EDI 846?

What is Web Based Inventory Management Software?

EMERGE App

You run a lean business model with minimal overheads and using web-based inventory management software plays a big part in this. And you expect the same standard for inventory management software. What to Expect from Web-Based Inventory Management Software. Introduction.

Is Your Company on top of its Inventory Planning Game?

Logistics Bureau

Good inventory management, like everything else, starts with good planning. But planning isn’t just the start; it’s the very foundation of effective inventory control. Inventory planning also happens to be an area that many companies fail to prioritise sufficiently.

Four Inventory Optimization Questions Every Life Sciences Supply Chain Team Should Ask Itself

Logility

How do you know if meaningful inventory optimization is possible for your life sciences organization? Supply chains in all branches of the industry involve high-value, high-margin items that tend to trap large amounts of working capital in excess inventory, so the potential benefit is real.

Four Inventory Optimization Questions Every Life Sciences Supply Chain Team Should Ask Itself

Logility

How do you know if meaningful inventory optimization is possible for your life sciences organization? Supply chains in all branches of the industry involve high-value, high-margin items that tend to trap large amounts of working capital in excess inventory, so the potential benefit is real.

8 Inventory Costing Methods That You Might Not Know About

EMERGE App

Inventory costing or valuation is an accounting concept that has a direct impact on your gross profit and thus taxable income. Methods of valuing inventory are simply different cost-flow assumptions about how to allocate your cost of goods available for sale. Retail Inventory Method.

WooCommerce and Inventory Management Software

EMERGE App

Then we’ll examine why you need a robust inventory management system behind WooCommerce. We’ll move on to present EMERGE App as an inventory management solution and the benefits of them working together. EMERGE App is one such add-on for inventory management.

Healthcare Utilization Management: Solving the Mystery of the Missing Inventory

NC State SCRC

I recently had a chance to interview a supply chain director from a mid-sized hospital in New York state, that was very insightful in helping me to think about the challenge around inventory management. And my clinical system which documents how many we used with patients shows that we used 90 of those Band-Aids. If you bought it, and documented that you used it, then you better not be cheating the system.

Video Podcast: Five Core Competencies of Inventory Optimization

Logility

A key characteristic of best-in-class companies is their success in using inventory optimization (IO) and cash management techniques to free up working capital. The amount of a company’s working capital trapped in inventory can be expressed as days inventory outstanding (DIO).

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Video Podcast: Five Core Competencies of Inventory Optimization

Logility

A key characteristic of best-in-class companies is their success in using inventory optimization (IO) and cash management techniques to free up working capital. The amount of a company’s working capital trapped in inventory can be expressed as days inventory outstanding (DIO).

Video 130

10 Best Practices for Inventory Cycle Counts

EMERGE App

They’re disruptive I know but they’re an essential part of maintaining inventory accuracy. Here, we’ll introduce inventory cycle counting and show you how it can complement your annual stock take exercise. What is an Inventory Cycle Count? Introduction.

Vendor Managed Inventory? Think twice and consider the risks!

Supply Chain View from the Field

Historically, businesses have used one of two extremes for inventory management: push-based or pull-based. Push-based inventory management uses demand forecast to manage inventory and replenish from the supply base. Pull-based inventory management, on the other hand, uses consumption to replenish from the supply base and manage inventory. Inventory levels actually increased at downstream (buyer) facilities.

Hybrent Launches Major Healthcare Software Update with Innovative Inventory Management Modules

Hybrent

Hybrent announced a major software upgrade to their med supply ordering and inventory management system with the release of Hybrent 3.0. Recording accurate usage reduces errors and automates inventory management practices.

WMS and Cycle Counting: How to Reach Inventory Management KPIs

Veridian Solutions

Greater control and efficiency in modern warehouse management rests on the reliability and accuracy of your inventory management processes. Warehouse Managers need to understand the challenges of cycle counting, how the right KPIs can help, and how to leverage WMS and cycle counting best practices to develop the best inventory management KPIs. Which Inventory Management KPIs Are the Best? Carrying cost of inventory.

KPI 40

Stripe and Inventory Management Software

EMERGE App

It’s not inventory management as that’s why you’re here. No sophisticated online software solution can help you if your payment systems are offline and separate from your inventory management solution. Why use EMERGE App and Stripe for inventory management?

The Weighted Average Cost Method of Inventory Valuation

Unleashed

The weighted average cost method in accounting is one of three approaches of valuing your businesses inventory stock and determines the average cost of all inventory items based on the individual costs and the quantity of each item held in stock.

Inventory Management and Xero Accounting Software

EMERGE App

There’s no question that inventory management and accounting are inseparable. Small and medium-sized businesses that deal in physical goods want to manage their inventory and the flow of goods in their business. Why Not Get All-in-One Accounting and Inventory Management Software?

Control Towers: If Only There Was A Clear Definition

Supply Chain Shaman

For example, only 29% of manufacturing companies can access total cost data and 31% struggle to see the impact of business decisions on inventory. Pictures, images, text, email, sentiment, contracts, documents are all areas of opportunity. We finished dinner.

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Purchase Orders and Purchase Requisitions: What’s the Difference?

Unleashed

Supply chains are a fundamental tool for any inventory business. These play a role in helping a company acquire, buy and set out purchasing steps when they are looking at the ordering cost of new materials and inventory. A purchase requisition is a type of document that lists the merchandise needed by a specific department. This document allows purchases to be requested. A purchase order is a document that’s used to pay for a product or service.

An Inventory Audit Guide for Wholesalers and Distributors

EMERGE App

However, we shall soon see why an inventory audit is critical for businesses dealing with physical stock. You shouldn’t confuse an inventory audit with two popular means of tallying your stock: physical stock takes and cycle counting. What is an Inventory Audit.

Bottlenecks and Poor Inventory Control Are Stunting Your Growth

Unleashed

Inventory control. One such bottleneck that will potentially inhibit business growth is an inventory bottleneck due to poor inventory control and that fails to meet the company’s growing demands. An inventory bottleneck is caused by a material variance. A shortage of inventory in one part of the production process can have a domino effect on the entire operation. Maintaining an organised warehouse helps to optimise inventory control.

Our Users Take Us Higher — We’re an Inventory Management FrontRunner Again!

Unleashed

Check out the March 2019 FrontRunners for Inventory Management Report. The post Our Users Take Us Higher — We’re an Inventory Management FrontRunner Again! Company News awards CA inventory management inventory management software North America US

What Are Some of the Necessary Skills of Great Inventory Managers?

Unleashed

If optimal inventory control is imperative to maintaining a successful, sustainable and profitable business, then it’s obvious that capable inventory managers play a crucial role in achieving this. Inventory managers are responsible for leading a team of workers as they manage the flow of inventory stock in, through and out of the business. Great inventory managers. It is important for inventory managers to understand what products they are managing.

Inventory Control Can Help Improve Your Sales Quoting

Unleashed

Efficient accurate sales quoting and inventory control. Cloud-based inventory control solutions provide valuable, transparent, real-time inventory data at a glance so that sales reps can see what stock is available, where it is and in what quantities. As sales are made, inventory stock levels are adjusted accordingly. The post Inventory Control Can Help Improve Your Sales Quoting appeared first on Unleashed Software.

Spreadsheets for Inventory: What Are You Actually Getting?

Unleashed

For a small business, using a spreadsheet is a simple, cost-effective solution to managing your inventory, right? In the early days of a small business, a spreadsheet is an easy way to reduce upfront costs and still manage your inventory. Maybe you don’t have the capital to invest in inventory software in the early days. However, using spreadsheets for inventory may be holding you back. Keeping your inventory all in one place.

Don’t Make These 8 Horrible Inventory Management Mistakes Before Halloween

EMERGE App

Not cleaning up the inventory skeletons in your closet can mean a difference between a ho-hum year and a bumper year. Here we’re going to cover some common inventory management mistakes that businesses make while winding up the year. Introduction.

Supply Chain Scope: New Study Shows Rise in US Inventories; California Estimated to Improve Freight Efficiency by 25% in 2030

Arkieva

A new study by the SupplyChainDigest analyzing the main components of working capital: Days Sales Outstanding (DSO), Days Inventory Outstanding (DIO), and Days Payables Outstanding (DPO) revealed an uptick in DIO. New Study Shows a Rise in US Company Inventories.