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Why is inventory optimisation better than inventory management?
The importance of safety stock in inventory management
Shipping container shortages and how to better manage your inventory
Companies that use the right strategies in purchasing and logistics can gain advantages during these unique, uncertain times and, during the return “to normal,” have a greater competitive advantage and continued growth. As the global world economy has continued to recover completely from the aftermath of the Covid-19 pandemic, and...Read more
As we navigate a cost-of-living crisis that has seen prices and inflation soar, budgets are becoming tighter at home and work. To prevent drastic decreases in profitability or increases in debt, finance teams are scrutinising budgets and balance sheets to find areas to cut to make savings. Changes in business...Read more
ABC, ERP, EOQ, JIT…acronyms are everywhere in inventory and supply chain management, including MOQ. So what does MOQ mean? MOQ means minimum order quantity. A minimum order quantity is the lowest amount a supplier will accept for an order, which can be units, value or weight. MOQs can be for...Read more
Inventory optimisation is an often-misunderstood term. It isn’t just a fancy way of saying inventory management; it’s a way to elevate it. Here, we introduce inventory optimisation, explain what it involves and why you need it in your inventory management life. If you’re managing inventory, your focus will be ordering,...Read more
The supply chain world has been rocked repeatedly over the past few years due to global issues such as the Covid-19 pandemic, shipping container shortages, catastrophic weather events, and socioeconomic issues – many outside our control. Keeping business going has been a significant challenge for companies without robust supply chains...Read more
Inventory demand forecasting is how companies predict customer demand for an inventory item over a defined period. Accurate inventory demand forecasting enables a company to hold the right amount of stock, without over- or under-stocking, for optimum inventory control. Historical data trends and market knowledge of how demand can fluctuate...Read more