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…continue reading
Inventory optimization solutions for 2021 and beyond
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…continue reading
Inventory Management in the Food Industry
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…continue reading
How to keep track of inventory
How to keep track of inventory 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…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
