Jan 6, 2018 | Business Tips, Top 10
ShareTweetShare Walmart lost $3 billion in 2013 due to poor inventory management, leading to frequent stockouts. If that’s how improper inventory management affects a mega-corporation, how do you think it would affect your business? We don’t want to be too hyperbolic...
Dec 30, 2017 | Business Tips
ShareTweetShare Obsolete inventory is the worst kind of inventory you can have (next to no inventory, of course). It increases your cost of inventory and is hard to get rid of. If you have too much inventory on hand that’s not selling, chances are you want to know how...
Dec 23, 2017 | Business Tips
ShareTweetShare Would you like to know exactly when you need to reorder stock and how much you need to reorder? Then you need to calculate your economic order quantity (EOQ). EOQ – much like a reorder point formula – helps you take the guesswork out of...
Dec 16, 2017 | Business Tips
ShareTweetShare A minimum order quantity is often seen as a necessary evil in wholesaling, retailing, and manufacturing. Some businesses like it, some businesses hate it, and some businesses have to use it. But what is a minimum order quantity exactly? What are its...
Nov 11, 2017 | Business Tips
ShareTweetShare Are you managing your inventory as effectively as possible? It’s OK if you’re not. Most businesses have plenty of areas to improve, especially in their warehouses. But if you don’t begin the process of upgrading and streamlining your business...
