Inventory optimization has proven to be a great tool in keeping records and the inventory flow from inside to the outside of the organization. With newer advanced technology and innovations, the business world is undoubtedly changing. More recent trends are taking place, eliminating the traditional options. Globalization, digitalization has not brought changes only in the …
Supply chain digitization can bring a whole-lot difference in the traditional business processes and their supply chain operation. Newer innovation and technologies are already in the application of different business processes. Consumers worldwide are well known about the market conditions and demands, and they expect more visibility and efficiency from the companies. Even the companies …
The inventory control system is a sensitive issue in any company/business because it is a process of balancing the costs involved and the benefits that will be generated from excess inventory. At the same time, this control also involves the calculation of the warehouse stock. Making an inventory in stock is always important to evaluate …
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After Trump imposed tariff changes in May 2019, the retail industry became threatened. Do you know how do tariffs affect companies inventory system? It is believed the amendments came as a result of the trade war between China and the US. When the war trade began, large retailers who had been performing well started witnessing …
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The supply chain used by a company is one of the most valuable assets to its business and its vendors. However, supply chains’ designs and their management involve a hefty price. In today’s competitive scenario, most organizations have failed to completely realize the business value offered by effective supply chain management. Consequently, supply chains of …
What if you could get inside the head of your inventory buyer before you even picked up the phone? What if you could somehow read their mind? Would that help you choose the buyer that was right for you? Finding the right inventory buyer is the secret to getting maximum returns for your inventory disposition. …
Do you know what is excess inventory? Excess inventory refers to products that sell slow and exceeds the market demand of that particular product. Economically, excess inventory relates to several significances such as late stock delivery and when that happens, there is nothing you can do other than come up with strategic ways to deal with the …
Why is The Retail Store Closing? Do you know about the recent breakdown of retail stores which is also known as retail Apocalypse? Well, many retailers who were market leaders have been closing their stores in different locations. They are gathering their overstock inventories in one place and distributing them through different channels. And this …
When it comes to inventory, calculating excess or old inventory can be a daunting task. For a long time, I was faced with the menace of calculating excess inventory. But what is excess inventory? Basically, Old or excess inventory is a selected class of items on the stock that moves on a slower rate than the …
As a retailer, holding the appropriate amount of inventory can be quite challenging especially during the holiday season due to the increased demand. Therefore, this makes it challenging to effectively carry out retail inventory management resulting in plenty of unsold products. Having an excess inventory is costly. It is because excess inventory eats into your …
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