The way you manage the inventory process flow in your warehouse is critical. Even if you have the best product on the market, you won’t be in business very long if your warehouse misplaces or loses merchandise. Making sure that your inventory flows smoothly in and out the door means managing your warehouse with a few best practices in mind:
Define What You Have
Topics: shipping, inventory management, inventory, john shepperson, oates co, moving, receiving, warehouse, inventory process
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
Inventory is the lifeblood of your business; it probably represents the biggest number on your balance sheet. Managing your inventory is possible through a number of different methods – you can use anything from top-notch software to Excel spreadsheets to paper-based documentation. And while of course each business must make their own decision about how to manage their inventory, we at Oates & Company recommend Sage’s Inventory Advisor. Not only does it make your inventory management easier and more effective, Sage’s products offer stellar customer service as well.
Sage’s Inventory Advisor software is a warehouse-centric system that enables you to track costs and sales histories by warehouse and to set up multiple price lists in multiple currencies and multiple warehouses – so the size of your company is not a boundary with this system. It supports assemble-to-order as well as build-to-order kits, includes lot and serial number tracking, and supports first in first out, last in last out, average, actual, standard, and warehouse-specific costing.
Topics: ERP, oates and co, Sage, inventory control system, enterprise resource planning, inventory management, inventory, john shepperson, inventory advisor, sage's inventory advisor
We all know that time is money. And if you’re losing stock or sales because you’re having inventory issues, you’re losing money by the minute.
If this is happening to you, you want to start saving money right away – which means it’s time to start using wireless inventory management.
Topics: oates and co, RFID, radio frequency, inventory management, inventory, john shepperson, data transfer, wireless inventory, wireless inventory management
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
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
It's not unusual for inventory control to be a challenge in a physician's office, especially in practices with multiple doctors. Out-dated and/or manual inventory control systems consume too much staff time and are less effective than other types of inventory management procedures.
Topics: inventory management, inventory, Sage 100, data management, Sage 100 ERP, inventory management procedures, john shepperson
