Inventory optimization software helps employ best practices seamlessly through automation and heightened visibility. According to a report from McKinsey & Company, the worldwide cost of inventory distortions, i.e., overstocks, stockouts and shrinkage is $1.1 trillion. Reducing those distortions can lower inventory costs by 10%. Inventory optimization software puts the “best” in these 5 inventory management…continue reading
Slow Moving Inventory: Identify, Prevent, Manage
Product performance varies within inventory-based businesses, so it is important to have the right tools to manage inventory overall with the ability to identify, prevent and manage the outliers, including slow moving inventory. Consider product performance in relation to the general idea of the Pareto principle (also known as the 80/20 rule). The gist of…continue reading
eCommerce Inventory Control
eCommerce Inventory Control identifies the common challenges multi-channel distributors and manufacturers face without synchronized online inventory management and why it is important to incorporate it. If you are a multi-channel distributor or manufacturer, you know the challenges a lack of proper inventory management or limited visibility can bring – especially if one or more of…continue reading
How to Become a Dropship Supplier in 5 Steps
How to Become a Dropship Supplier in 5 Steps details the steps small and mid-sized multi-channel distributors can take to expand inventory offerings and/or maximize warehouse space by drop shipping products. Dropshipping – for any unfamiliar readers – is a method of commerce that allows a distributor to present and sell inventory items located in…continue reading
6 Inventory Cost Management Practices to Consider for Tax Preparation
Tax season is the time of year when businesses are forced to confront the truths of the overall state of the company. Business owners must evaluate costs, cash flows, write offs and margins to gauge the health of the company as a whole. Business health entails assessing the efficiency of functions of several different components,…continue reading