The more complex your business, the more important it is to have an effective inventory management system. Often this is because of the nature of your products or services and the way they are distributed. For example, if you're a manufacturer or wholesaler, you may need to track your inve...
While it can feel daunting to create a home inventory, it can prove invaluable if you want to upgrade or replace your belongings, or if you have to file an insurance claim. We break down the process of how to create a home inventory and ways to make it faster and easier. What is a...
How to Create an Inventory Spreadsheet Creating an inventory spreadsheet can feel like a daunting task, particularly when you sell a range of products or store them in various locations. But, it's a vital step in inventory control and will pay dividends down the line. To make things easier,...
An example of inventory management is a retail store using a barcode scanning system to track stock levels. The system forecasts demand and sales trends to determine optimal stock quantities and automatically reorders products when stock hits a predetermined threshold. ...
can be hard to read if they are damaged or dirty, and they can also be counterfeit. This can be difficult to spot, so it is important to check the legitimacy of a barcode before relying on it and keep your knowledge up-to-date when implementing an inventory system with barcode scanning...
The 7 types of waste is a concept that is an integral part of Lean management. Learn what costs you money and resources as well as how to eliminate waste.
Once you’ve finished counting your inventory, compare the total number of each item to the inventory levels for that product recorded in your POS system. Are you missing any items? Inventory discrepancies (shrinkage) can be due to human error, administrative errors like mislabeling an item, su...
If you’re looking for all the functions of an advanced inventory management system, Brightpearl gives you everything you need. Thanks to the great integration partner ecosystem and APIs, you can create a tech stack that scales as you grow. As well as complete visibility and accurate forecasts...
inventory levels and production rates, can be used to give context to financial performance reports and create more accurate forecasts. Additionally, a comprehensive ERP reporting system enables companies to track and report onkey performance indicators (KPIs),which help measure progress toward strategic ...
Stock inventory level:You’ll need to know your current inventory levels to create an efficient production schedule that minimizes inventory costs down and meets customer demand. Production capacity:This is the maximum output that can be achieved by your organization in terms of manufactured goods. ...