Test-Awareness ppc - EazyStock

Inventory turnover – what is it and how to improve it

A free resource from EazyStock ‘7 Ways to Fix Your Inventory Turnover Challenges’ will show you seven great ways to increase your inventory turnover, without simply cutting back on stock.

About your free inventory turnover eBook

In this eBook we show you how to increase your inventory turnover rates without damaging stock availability.

We also introduce the concept of inventory optimisation and show you how simple techniques can lead to great results.

Get our eBook now!

Download this eBook and discover:

  • Why inventory turnover challenges exist
  • Strategies to increase inventory turnover without harming stock availability
  • How inventory optimisation software can deliver optimal stock turnover ratios

The importance of improving inventory turnover

Inventory turnover measures the efficiency of a warehouse or stock control processes. It’s a ratio of the cost of goods sold to the average stock held.

If you’re looking to improve your inventory turnover, the chances are you’ve considered reducing your stock levels. But at what cost? Cutting back on stock can increase your risk of stock-outs and lost sales.

The answer lies in inventory optimisation. These techniques help many businesses reduce their stock levels, which increases inventory turnover – without damaging stock availability.

Tips to improving inventory turnover

Here’s five ways to help improve your inventory turnover ratio:

Improve forecasting accuracy.

Factor in demand patterns, volatility, seasonality, market trends and qualitative data so you’re stocking items that customers want.

Use inventory classification.

Group items based on their value to the business and set stocking policies that reduce the risk of stock-outs of your most important lines.

Track product life cycles.

Track items near the end of their lifecycle and look for ways to reduce stock levels before they turn obsolete.

Use-up excess stock.

Identify and use any surplus stock in your supply chain before ordering from suppliers.

Think twice about bulk buying.

Weigh up the unit-cost savings of placing bulk orders against the impact on stock turnover. If the items aren’t best sellers, they could end up as excess!

Want to learn more? Get our free eBook on inventory tunrover now!

Improve inventory turnover with EazyStock

Many businesses are still using spreadsheets or basic inventory management systems to forecast and replenish their stock. These often lack the functionality to ensure consistently high inventory turnover rates, without causing stock-outs.

More and more inventory managers are therefore turning to inventory optimisation tools, such as EazyStock.

EazyStock software is designed to optimise stock levels, so you always have enough to meet demand, without over-investment.

EazyStock connects to your current stock system and uses advanced algorithms to bring accuracy and speed to inventory management.

The cloud solution automates demand forecasting, stock classification and reordering calculations, producing optimised order recommendations.

Inventory managers can ditch the spreadsheets, giving them more time for strategic decision-making and looking after suppliers and customers.

Why EazyStock?

Ensure stock availability

Ensure stock availability

Make sure you always have the right products on the shelf to prevent stock-outs and delight your customers.

Optimise demand forecasts

Optimise demand forecasts

Utilise advanced algorithms to track product demand, accounting for life cycle stages, trends and seasonality variances.

Lower inventory levels

Lower inventory levels

Get rid of excess and obsolete stock, freeing-up working capital for investment elsewhere in your business.

Automate re-ordering

Automate re-ordering

Produce automated order proposals to process in EazyStock or send back to your ERP.

Accurate replenishment

Accurate replenishment

Automatically calculate safety stock levels, re-ordering points and order quantities to ensure optimised inventory levels.

Be smarter with suppliers

Be smarter with suppliers

Place orders more cost-effectively by considering suppliers’ delivery schedules, lead times, discounts and costs.

Improve efficiency & save time

Improve efficiency & save time

Ditch the manual spreadsheets and save time that can be spent on strategy and innovation.

Get a fast ROI

Get a fast ROI

Benefit from rapid ERP integration and get up and running fast with a system that’s easy to deploy.

Trusted by growth-driven companies

Get our free eBook on inventory turnover

Inventory is expensive and no business wants to see capital unnecessarily tied up in warehouse stock. But at the same time hitting stock availability targets is critical to customer satisfaction.

In this eBook we provide 7 ways to increase your inventory turnover rates without simply cutting back on stocked lines.


Sign up for the EazyStock Newsletter!

Latest news, trends & tips     Best practices     Cancel anytime