Inventory management combines inventory management software, processes and procedures to ensure the correct quantities of inventory are ordered and managed to satisfy customer demand.
QuickBooks Online Inventory Limitations discusses the differences between QuickBooks Online and QuickBooks Desktop features and addresses how QuickBooks Online compensates and where a third-party software is needed. QuickBooks Online (QBO) is the exceedingly popular web-based application developed by Intuit for smaller businesses or those not necessarily needing the full functionalities of the QuickBooks Desktop suite….
What is anticipation inventory? Simply put, anticipation inventory is a basic use of inventory purchased in advance and stocked to meet expected fluctuations in supply and demand. Anticipation inventory is a proactive response for business when there are expectations of sales surges based on seasonality, current events, trends, promotions, and other events. It is also…
Inventory optimization solutions balance inventory levels and customer demand in ways that achieve optimal customer satisfaction and business profitability. Disruptions to business are inevitable and constantly occurring—from technological advances to consumer expectations to labor strife to mergers and acquisitions to cyberattacks to natural disasters to a global pandemic. The above statement was made in response…
Inventory management in the food industry requires inventory control, lot & serial number traceability, and order management to ensure food quality and safety. Operating within the food industry as a distributor, supplier, or manufacturer is not for the faint of heart. Federal and state regulations surrounding food and beverages are strict, customers are demanding, and…
How to keep track of inventory – that is a subject many distributors, sellers, and manufacturers ponder every day. A sudden influx of orders, the need to fulfill orders quickly, a desire to maintain consistent inventory accuracy, and a number of other challenges can all leave you wondering how to keep track of inventory. Acctivate…
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…