Inventory optimization software provides the tools for implementing best practices seamlessly through automation and heightened visibility. The benefits of Inventory Optimization Software 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…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
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
