Posted by John Shepperson | Jan 27, 2015 2:11:00 PM
Inventory is a major asset in a business, as it ties up considerable cash that could be used for other purposes.
For this reason, good inventory management is a must. What is good inventory management? Essentially, it is a balance between over-stocking and under-stocking – that is, stocking sufficient materials to fill customer orders without having too much or too little inventory.
Topics: training, software, inventory management, inventory, inventory control, john shepperson, oates co, cycle counting, variances, blind counting, procedures, adjustments
From healthcare to manufacturing, modern businesses rely on inventory control in order to stay competitive and make the most of their resources. The more inventory you need to move, the more important it is for you to make use of advanced inventory management systems so that you can maximize gains while minimizing loss. The exact functions and features of your inventory management system will depend on your company's individual needs, but all successful advanced inventory management systems share some common features.
Topics: automation, inventory control, inventory management procedures, john shepperson, oates co, barcode, reduce human error, analytics, multiple sites, advanced inventory management, bar code, predict future needs
As a startup or small business, it might seem like a good idea to use free inventory control spreadsheets to manage your inventory. It's certainly cheaper than using software that comes with an inventory management program and its own spreadsheets.
Topics: oates, oates and company, inventory management, inventory, inventory control, john shepperson, spreadsheets, free software, free spreadsheets
When a company needs to reduce costs, inventory is often the area that takes the hit. Unfortunately, these decisions are often made in a vacuum with little regard to how the supply chain and the business as a whole will be affected.
Topics: oates and co, cutting costs, inventory control, inventory management procedures, john shepperson
Most business’s largest expense is inventory. Between raw materials, work-in-progress goods, finished goods, and the supplies to make the goods, a great deal of cash is tied up in inventory. Cash tied up in inventory means that it is unavailable for reinvestment.
Topics: control procedures, inventory control system, raw materials, work in progress goods, finished goods, oates and company, inventory, inventory control
Inventory management includes all activities of replenishment and forecasting used to ensure that a business has all the materials it needs to complete product orders and keep customers happy.
Topics: control procedures, materials requirement planning, order point system, oates and company, inventory, inventory control, john shepperson
Posted by John Shepperson | Oct 4, 2013 7:40:00 AM
In many companies, inventory is the largest asset. Mismanagement of inventory will lead to financial problems because it will contribute to losses. If inventory is mismanaged badly enough, a business will close.
Topics: oates, oates and company, inventory management, inventory, inventory control, just in time, economies of scale, john shepperson
Inventory control is one of the biggest challenges for any company that manages a supply chain. Suppliers from numerous industries are seeing the advantages of switching to Vendor Managed Inventory (VMI).
Topics: vendor managed inventory, vmi, build customer relationships, oates and company, inventory, inventory control, john shepperson
Inventory control procedures are crucial to keeping accurate and reliable inventory counts for any organization or business. Control is a delicate balance from the time of order placement, reception into the warehouse, counting, verification, labeling, putting away, picking and shipping. Knowing where every single piece of inventory is at all times is essential to business success.
Topics: product distribution, oates and company, inventory management, inventory, inventory control, inventory management procedures, john shepperson
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