When finished goods are built from a set of components, a Bill of Materials (BOM) is extremely useful for inventory management purposes. A bill of materials is usually associated with production planning in manufacturing, and is typically used in manufacturing software such as materials resource planning systems (MRPs). BOMs are...Read more

If you’re wondering what is the best way to manage inventory with hundreds or even thousands of SKUs, you’ve found your answer: ABC classification (otherwise known as ABC analysis). In this post, we’re going to discuss how you can classify your inventory into three ABC categories and introduce the concept of...Read more

ABC inventory analysis is a method used to classify a business’s stock items into three categories – A, B and C, based on their value to the business. A items are the most important in terms of the value they bring a company, while C items are the least valuable....Read more

The concept of inventory optimization helps many businesses improve their inventory turnover – without damaging stock availability. This post will explain how, but first, let’s deal with a few simple definitions. Many stock-holding businesses have a significant amount of working capital invested in inventory sitting in their warehouse. The quicker...Read more

eCommerce is a rapidly growing phenomenon across the globe. Statista projects that eCommerce sales will surpass $740 billion in the US by 2023. But it’s not just the B2C sector experiencing rapid growth. B2B ecommerce sales have also accelerated; Forrester projects that 17% of all eCommerce sales in the US...Read more

The growth of eCommerce in 2020 was phenomenal as more customers, B2B and B2C alike, shopped online due to the COVID-19 pandemic. In Q3 of 2020 Amazon reported sales up 37% year-on-year, with eBay close behind at 25%. Forrester projects that B2B eCommerce transactions will reach $1.8 trillion by 2023,...Read more