As you explore the possibilities and benefits of inventory management, you may be wondering, “What should be included in an inventory information system?” Good question. An inventory information system is the combination of inventory management software and inventory management processes & procedures to connect, track and manage the flow of goods, activities, information and resources across a business. So, an…continue reading
10 Steps to Better Purchasing Management
Determine how & where spending has occurred by vendor or vendor type to gain a better understanding where savings opportunities exist. Use the information to aggregate spend across the organization, leveraging volume for improved pricing & increased efficiencies. Know your vendors & optimize supplier relationships. Develop vendor expectations & selection criteria based on historical vendor performance…continue reading
