Inventory forecasting, also known as demand planning, is a data analysis method used by purchasing managers and decision-makers to predict inventory needs, anticipate demand fluctuations, uncover savings opportunities, enhance marketing strategy, and ensure customer satisfaction. Inventory Forecasting & Everyday Data Every single day the world collectively produces approximately 2.5 quintillion – 2,500,000,000,000,000 – bytes of…continue reading
5 inventory tools to help with inventory control and management
With the right inventory tools, small and mid-sized businesses can effectively manage their inventory Inventory management continues to play a critical role in the success of an organization. However, because of the domino effect businesses have on the overall economy, recently “unsold inventory created a big drag on the economy”. According to NRF Chief Executive…continue reading
How to track inventory with your inventory management software
If you’re getting started with inventory management software, here are some easy ways to start tracking your inventory There are many affordable resources that exist for small businesses who want to optimize their inventory practices. One such resource is inventory management software. There are many inventory management software that exist, some of them specifically for small…continue reading
Donovan Sachs talks: Effective inventory management reporting
Ask a QuickBooks Expert Series Topic: Effective Inventory Management Reporting Effective inventory management systems hold a world of data as a result of processes being performed within the business and entered into the software. If that software is just used as a holding cell for the data, the business is missing out on valuable advantages. But they…continue reading
